MUMBAI, August 11, 2026 – The banking sector’s premier annual conference, FIBAC 2026, officially kicked off today at the Hotel Trident in Nariman Point, Mumbai. Jointly organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Indian Banks’ Association (IBA), the two-day flagship event is centered on a highly relevant theme: ‘Winning in the AI Era: The New Playbook for Indian Banks’. The Boston Consulting Group (BCG) is serving as the knowledge partner for the conference.
The Inaugural Session took place this morning between 10:15 a.m. and 11:30 a.m.. The highlight of the morning was the inaugural address delivered by Reserve Bank of India (RBI) Governor Shri Sanjay Malhotra.
Addressing a massive gathering of industry stalwarts, banking executives, and policymakers, Governor Malhotra outlined a clear vision for the future of artificial intelligence in the Indian financial system. He cautioned that the banks destined to succeed in the AI era will not necessarily be the ones that adopt the technology the fastest. Instead, the winners will be those institutions that truly understand the technology they are deploying and maintain clear, strict accountability for its outcomes.
1.A Total Change in Mindset:
The RBI chief emphasized that integrating AI is not merely a technological upgrade but a fundamental structural shift. “Doing business, doing banking, and so on, requires a total change in mindset,” Malhotra stated, noting that AI will completely reshape how banks evaluate risk, serve their customers, price capital, and organize their internal operations.
2.Shaping the AI Revolution:
Governor Malhotra issued a strong call to action, warning that India must actively shape the AI revolution in the banking sector, rather than passively allowing the technology to shape the industry.
3.Leveraging Digital Public Infrastructure:
He pointed out that India possesses a distinct global advantage, as the nation’s robust digital public infrastructure—including systems like UPI and Aadhaar—provides a highly capable and strong foundation for the widespread adoption of AI technologies.
The Governor further noted that the integration of AI strongly converges with the RBI’s ongoing regulatory agenda, which prioritizes overarching financial stability, enhanced customer-centricity, and driving down intermediation costs.
The FIBAC 2026 conference comes at a critical inflection point for the industry. With AI shifting from a mere technology investment to a core strategic imperative, the event will feature two days of intensive panel discussions and business sessions. Topics on the agenda include AI-led credit transformation, risk management, MSME lending profitability, and the responsible governance of autonomous banking systems.
Published by True Roots Media Network