Skip to content

RBI Governor Malhotra Urges AI for Customer Complaints

18 March 20251 min read
BANKING & FINANCERBI GovernorMalhotra Urges AIfor CustomerComplaints18 March 2025safalsetu.com

Why in the news

RBI Governor Sanjay Malhotra asked RBI-regulated entities to harness artificial intelligence within internal controls to tackle complaints about misselling and aggressive sales practices.

Key facts

  • 95 commercial banks logged over 10 million customer complaints in FY 2023-24.
  • He cautioned that the count could rise with a bigger customer base and product range unless banks act early.
Suggested AI usePurpose
Data analysisDetect spikes in ATM failures and erroneous charges; send preemptive alerts
Chatbots and voice recognitionOvercome language barriers in a diverse country

Way forward

  • Invest in human capital to improve customer service and strengthen grievance redressal.

Exam angle

  • RBI Governor: Sanjay Malhotra.
  • Terms: misselling, grievance redressal, AI-driven chatbots.

Test yourself

1. How many customer complaints did 95 commercial banks in India receive in FY 2023-24, as cited by the RBI Governor?

95 commercial banks received over 10 million complaints in FY 2023-24.

2. RBI Governor Sanjay Malhotra suggested AI-driven chatbots and voice recognition mainly to overcome which problem?

They were proposed to overcome language barriers in India's diverse population.

3. Which of these did the RBI Governor say AI could help detect early through data analysis?

AI can detect spikes in ATM failures and erroneous charges for preemptive alerts.