The growing use of artificial intelligence and machine learning in financial services globally can lead to financial stability risks and warrants adequate risk mitigation practices by banks, the Governor of the Reserve Bank of India said on Monday.

Who also worries misinformation on social media could threaten liquidity The governor of India's Reserve Bank, Shri Shaktikanta Das, yesterday warned that AI – and the platforms that provide it – could worsen systemic risk to the nation's financial system.

Some Indian non-banking finance companies (NBFCs) are aggressively pursuing growth and chasing excessive returns on equity, which could pose financial stability risks, the central bank governor said on Wednesday.