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(AI) had the potential to automate complex processes and improve efficiency, it came with risks like algorithmic bias and data privacy. “To harness the benefits, it is critical to address the attendant risks early in the adoption cycle,” said the RBI. Accordingly, the committee was set up...
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, overdraft or credit thereby created and all related charges arising thereby at prime lending rate applicable from time to time. I agree that frequent dishonor of cheques or high-value cheque returns due to insufficient funds may lead to discontinuation of checkbooks/closure of bank account....
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“To harness the benefits, it is critical to address the attendant risks early in the adoption cycle,” said the RBI. Accordingly, the committee was set up to “recommend a robust, comprehensive, and adaptable AI framework for the financial sector.” The committee would include the following ...
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