RBI mandates kill switch for AI models at banks, introduces comprehensive model risk framework

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The Times of India reports that India’s central bank is drafting stricter AI rules for banks and financial firms, including a required “kill switch” for AI models and a broader model risk framework. The headline also says human oversight must remain in place. This matters because it shows how regulators are responding to AI safety, especially in high-stakes settings like finance where errors can have real-world consequences.

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