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Informist, Tuesday, Aug. 11, 2026

 

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--SBI Setty: India's banking sector shows remarkable resilience
--CONTEXT: SBI Chairman CS Setty speaks at FIBAC 2026
--SBI Setty: Sustainable profits enabled banks to support growth
--SBI Setty: Banks using AI to understand customers better, risk mgmt
--SBI Setty: Agriculture presents opportunity for AI use
--SBI Setty: High AI use introducing new vulnerabilities
--SBI Setty: AI will be more than the next chapter in the story of tech

MUMBAI – The banking industry should strengthen its defence mechanism as it continues to expand the usage of artificial intelligence, State Bank of India's Chairman C.S. Setty said Tuesday. "Increasingly autonomous AI systems require us to think differently about oversight, model risk, transparency and responsibility," Setty said while addressing FIBAC 2026.

 

Setty said banks have already started using AI to understand customers better, improve surveys, strengthen risk management and make credit processes more efficient. "For banking, its possibilities are particularly profound because we sit at the intersection of people, businesses, information and capital."  

 

 

However, high usage of artificial intelligence will lead to new vulnerabilities. "More sophisticated technology can create even more sophisticated cyber threats," Setty said. "Fraud can evolve at a speed that conventional systems may struggle to match."

 

Setty highlighted the use of artificial intelligence in agriculture presents significant opportunity. "AI can support better farm-level decisions, while data-driven risk assessment, digital records and satellite imagery can help banks improve both credit access and portfolio management," he said.

 

Setty said banks in India continue to show strength and resilience and reported sustainable profits which enabled banks to support growth. The stronger balance sheets, healthier asset quality, sound capital positions and sustained profitability have enabled banks to support households, businesses and the broader economy with confidence, he said.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by J. Navya Sruthi, Pratiksha, Sagar Sen, and Radhika Tiwari   

Edited by Akul Nishant Akhoury

 

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