Reserve Bank of India (RBI) governor Sanjay Malhotra called on Indian banks to approach AI as a board-level strategy instead of basic technology purchases and cautioned that slow adopters risk losing control of the shift. According to him, AI could aid financial judgement in the same way UPI supported payments. Malhotra said AI was not comparable in a simple way with earlier changes in technology. He said that while electricity increased energy and the internet increased connectivity, AI increases intelligence, affecting the way banks assess and extend credit. Referring to recommendations from the RBI's committee on the responsible and ethical enablement of AI, Malhotra said banks should move immediately on several fronts.