The Reserve Bank of India (RBI) held its half-yearly meeting with the Managing Directors and CEOs of public sector banks and select private sector banks in Mumbai on July 14, 2026, chaired by Governor Sanjay Malhotra along with Deputy Governors and senior RBI officials.
The Governor highlighted the banking sector's broad-based growth and urged banks to continue supporting all segments of the economy with prudence while leveraging advanced technologies, including artificial intelligence (AI), to improve operational efficiency, reduce costs and enhance customer experience. He also emphasized the importance of strengthening cybersecurity, internal controls, fraud prevention and data protection.
The meeting also covered key initiatives such as CKYCR, early detection of counterfeit currency (FICN), MuleHunter, Central Bank Digital Currency (CBDC), Unified Lending Interface (ULI), Account Aggregator, FX Retail, and Retail Direct, with participants sharing feedback on these and other issues impacting the financial sector.