Can India govern AI it does not own? RBI’s model risk framework and its limits

RBI's new AI governance rules for banks place significant accountability on financial entities for all predictive models, including third-party ones. While aiming for robust risk management, the guidelines face challenges due to India's reliance on foreign AI models. This dependence raises concerns about biases, lack of local context and potential supply chain disruptions, questioning India's ability to fully govern AI it doesn't own. Listen to this article in summarized format The point is not that India cannot govern its AI models at all. Rather, governance remains limited when the technology stack is not sovereign. “Shortchanged ahead of IPO”, ex-Juniper CEO seeks INR365-cr compensation India ran a $4-trillion economy half-blind for decades. That just ended Is Bitcoin finally becoming digital gold equivalent?

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