ET AI Awards 2025: Nominate now for the AI for Banking & Financial Services Transformation category

India’s banking and financial services sector stands at the forefront of artificial intelligence (AI) adoption, driven by the dual imperatives of digital inclusion and competitive differentiation.

Generative Artificial Intelligence (AI) has the potential to improve banking operations in India by up to 46 per cent, according to a report by the Reserve Bank of India (RBI). The generative AI segment alone is projected to exceed Rs 1.02 lakh crore (about USD 12 billion) by 2033, growing at an annual rate of 28-34 per cent, according to the RBI…