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Informist, Tuesday, Aug. 11, 2026

 

--HDFC Bk official: To use AI for grievance handling 

--CONTEXT: HDFC Bank digital banking head speaking at FIBAC 2026 

--IndusInd Bk official: Governance has been fast-tracked due to AI 

--CONTEXT: IndusInd Bk head of business transformation speaking at FIBAC 2026 

--Canara Bk ED Manjumdar: Can use AI for low risk, repetitive treasury ops 

--CONTEXT: Canara Bank ED Manjumdar speaking at FIBAC 2026 

--Bk of Baroda ED: Not very comfortable with AI for irreversible transactions 

--CONTEXT: Bk of Baroda ED Mudaliar speaking at FIBAC 2026 

--HDFC Bk official: Have put guardrails to protect customer data 

--HDFC Bk official: Cost became a consideration post using multiple AI models 

 

MUMBAI – Agentic artificial intelligence has helped banks with risk management and governance decisions at some level and provided security, banking industry officials said at a panel discussion at the Financial Institution Benchmarking and Calibration seminar 2026 here. Taking the use of AI a step further, Canara Bank's Executive Director S.K. Majumdar said agentic AI could also be used for low-risk and repetitive treasury operations. 

 

"Low-risk repetitive functions can be entrusted with AI," Majumdar said at the panel discussion. However, he said there was requirement for human intervention at some level even in such low-risk operations.   

  

Pankaj Sharma, head of business transformation at IndusInd Bank, said there was a "big" return on assets when one invests in AI for credit operations and risk management. When it comes to the bank, 25% of IndusInd Bank's workforce was moving to AI, he said. 

 

At the same panel discussion, Sanjay Mudaliar, executive director of Bank of Baroda, said agentic AI could be used in small-value transactions, not in long-value payments or irreversible transactions.

 

Sharma said governance has been fast-tracked after the use of AI. Talking about more operational uses of AI, Sharma said banks could build data access ledger but this should be monitored by humans.

Top banking officials said expansion of the use of AI could be started with deployment in fragile technology, governance, risk management, and some low-risk operations.

 

Apart from these, AI could also be used to handle customer grievances in a bank, said Anjani Rathor, group head for digital banking and customer experience at HDFC Bank. The official said the bank had put guardrails to protect customer data. Rathor said cost became a consideration after the bank started to use multiple AI models.  End

 

Reported by J. Navya Sruthi and Sagar Sen

Edited by Avishek Dutta

 

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