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    A Vision for Responsible AI, Resilient Banking - Keynote Address [Contributions by RBI colleagues Ms. Chandni Trehan Saluja and Ms. Kavita Gangwal, De...
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August 20, 2026
Show AI Summary
Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
August 19, 2026
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
August 19, 2026
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Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
August 19, 2026
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Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
August 19, 2026
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AI reliability engineering expands through an enterprise hub supporting AI assurance, agentic engineering, observability and trusted AI deployment.
QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
August 19, 2026
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Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
Money-laundering investigation under the Prevention of Money Laundering Act led to searches of premises associated with the Maulana Mohammad Ali Jauhar Trust, its university, linked companies, promoters and a chartered accountant. The inquiry concerns alleged diversion of government contract funds through private contractors and their alleged subsequent use, including for creating assets of the Trust and university. Separate planning-law issues concern allegations that most university buildings were constructed without approved plans.

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UST Partners with Anthropic to Bring Claude Into UST''s Platforms, Engineering, and Operations and Train 20,000 UST Employees Globally

July 8, 2026

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Under the strategic alliance, UST will combine Anthropic’s Claude models with UST’s proprietary industry and horizontal platforms, engineering services, domain solutions, and internal operations, helping clients modernize and transform core systems and operationalize trusted AI at scale.
Aliso Viejo, San Francisco, CA, United States & Bengaluru, Karnataka, India – Business Wire India
UST, a leading AI and technology transformation solutions company, today announced a strategic alliance with Anthropic, the AI safety and research company behind the Claude family of models. The partnership is focused on helping Global 1000 enterprises become AI-native. UST will embed Claude into the engineering environments and operational workflows it designs, builds, and runs for clients — helping organizations move from isolated AI pilots to trusted, enterprise-scale AI embedded in the systems that drive their business.
The alliance combines Claude models with UST's implementation, engineering, and domain expertise, enabling customers to adopt Claude more quickly and responsibly within existing enterprise environments.
Rooted in a shared commitment to responsible AI, the alliance strengthens UST’s position as a Global Premier Partner in the Claude Partner Network Services Tier and expands UST’s ability to help organizations move from experimentation to trusted, large-scale deployment. By combining Claude models with UST’s engineering expertise, deep industry knowledge, and global delivery model, customers can adopt Claude with greater confidence across complex enterprise environments.
Claude for Physical AI: Enhancing UST's Engineering Platforms
UST is integrating Claude into the engineering platforms that semiconductor, automotive, manufacturing, telecom, embedded, and IoT companies use for design verification, semiconductor validation, factory operations, and field service. This will enable teams to catch design flaws earlier, speed up chip validation, and integrate hardware and software into a single system from the factory floor to the field. These processes are foundational to physical AI, moving intelligence off the screen and into the equipment and robotics that run production.
UST-iDEC is one of the clearest examples. The platform already changes the economics of hardware and silicon validation, cutting cycle times by 50–70% and compressing standard four-day turnarounds into 48 hours through a closed-loop, agentic validation pipeline. UST is now integrating Claude as the reasoning layer into that pipeline to further extend it. Claude Code reads chip pinouts and hardware schematics natively and writes and runs regression test scripts that engineers previously scripted by hand, while Claude's reasoning models compare live edge data against digital twins to flag firmware regressions and signal-integrity faults.
UST is targeting an already-fast validation pipeline that gets even faster, with less manual scripting, earlier fault detection, without adding new tools for engineers.
UST Platform solutions accelerated by Claude for Industry and Enterprise Workflows
UST will integrate Claude into selected industry platforms and horizontal enterprise platforms. Together, these integrations will give clients a consistent way to apply AI across industry-specific and shared enterprise workflows where accuracy, data protection, compliance, and reliability are critical.
Healthcare Payer: UST CarePath uses Claude to streamline member services, care management, and claims workflows, giving care teams a single, real-time view. Claude Code and MCP connectors link the platform directly to claims and care management systems, while an agentic layer routes each recommended action for approval before it reaches a member. The platform will help teams turn healthcare data into clear next steps, improve patient and member engagement, and resolve issues faster while staying within healthcare data governance controls.
Telecom: UST IntelliOps will bring Claude into network operations, service assurance, and OSS/BSS modernization. The platform has Claude’s reasoning layer wired in to help operators identify service issues, predict RAN failures, and reduce outage duration through approved response workflows and secure system integrations. This gives telecom operators fewer SLA penalties, shorter customer-facing outages, and less time NOC teams spend sorting signal from noise.
Banking: Most mid-tier banks still run on core systems built for overnight batch processing, not real-time banking. Every new integration or product change requires months of vendor-dependent work. UST FinX connects legacy banking systems to a single modern, real-time platform built for open banking and API-first integration. Claude drives the platform's AI capabilities, accelerating onboarding, automating document processing, and providing staff with faster access to account and compliance data, all within FinX's built-in governance and audit controls. That's what lets a bank modernize without hiring a bigger compliance team just to keep up.
Scaling Claude Across UST’s Horizontal Platforms and Industries
UST puts Claude to work everywhere clients feel the friction of change. In consulting, teams use Claude to redesign workflows and transformation roadmaps, helping enterprises adopt AI across functions and make change management repeatable rather than a one-off project. In business applications, Claude Code and approved MCP connectors handle configuration by hand, writing integration logic and letting teams describe what they need in plain language. In data and automation, Claude builds pipelines, accelerates analysis, and coordinates end-to-end handoffs between systems that once required manual stitching. In cloud, infrastructure, and security, Claude supports migration planning, writes infrastructure as code, checks it against policy before it ships, and helps teams get to the bottom of an incident faster, all under the same governance running across the alliance. Looking ahead, UST will also bring Claude into its retail, consumer goods, and manufacturing platforms to sharpen merchandising and inventory planning, strengthen digital commerce, and improve supply chain execution.


UST's Own Operations, Accelerated by Claude
UST already applies AI across its own operations and continues to expand its use of Claude and Claude Cowork. Within UST, deploying these capabilities across contracts, legal, talent, marketing, infrastructure, and finance demonstrates a commitment to innovation and operational excellence. Teams are transforming manual processes into reusable, Claude-native workflows and developing role-specific Claude skills to support key functions. These workflows operate with clear guardrails and human oversight at critical points, ensuring that automation supports accountability and informed judgment alongside speed. The result is more consistent operations and more time for employees to focus on judgment, negotiation, client work, and creative problem-solving. The impact is twofold. Operations run faster and cleaner, and people gain time for decisions, negotiations, and imagination that drive growth.
By gaining firsthand experience with the operational, technical, and change management challenges of AI adoption, UST is building the foundation for how it helps customers reimagine their enterprise transformation. That experience is evolving into an operating playbook of tested workflows, governance models, and value frameworks, proven within a complex organization and designed to accelerate time-to-value while managing financial and operational risk.
UST commits to training 20,000 developers and industry experts equipped to build with Claude at enterprise scale
A core pillar of this alliance is powering UST’s transformation into an AI-native company, starting with how UST works internally, not just what it delivers to clients. As part of the alliance, UST plans to certify 20,000 associates worldwide on Claude, across roles from architects and engineers to consultants, industry specialists, and forward-deployed engineers who can sit alongside client teams to think, build, and solve problems every day. This reflects UST’s continued emphasis on talent enablement, grounded in its core values of Humility, Humanity, and Integrity, while developing a growing community of AI-native developers, FDE-style practitioners, architects, and industry experts equipped to build with Claude at enterprise scale.
UST will build specialized teams to deploy Claude, with support from Anthropic enablement, technical guidance, and certification.
"Our alliance with Anthropic reflects UST's unwavering commitment to helping clients navigate the AI landscape with confidence and achieve meaningful business outcomes. By combining the capabilities of Claude with UST's engineering, industry knowledge, and delivery expertise, we are bringing to market industry-specific platforms and digital and engineering solutions that improve productivity, accelerate business outcomes, and help clients operationalize AI-led decisions in a safe and secure environment," said Krishna Sudheendra, Chief Executive Officer, UST.
"UST helps the world's banks, telecoms, and manufacturers put new technology to work. They're proving Claude inside their own engineering first, training 20,000 of their own people on it, before bringing it into the systems they build and run for clients," said Paul Smith, Chief Commercial Officer, Anthropic.
“We are wiring Claude into how UST designs, builds, and runs solutions across our consulting, platforms, engineering services, and industry offerings. This alliance with Anthropic helps us deliver higher-value outcomes for clients while advancing UST’s transformation into an AI-native organization built on trust, human oversight, and long-term impact,” said Manu Gopinath, President, UST.


About Anthropic
Anthropic is an AI safety company that builds reliable, interpretable, and steerable AI systems. Founded as a public benefit corporation, Anthropic develops the Claude family of AI models and products, including Claude Code, Claude Cowork, and Claude Enterprise, used by organizations around the world. For more information, visit anthropic.com.
About UST
Since 1999, UST has worked side by side with the world's best companies to make a powerful impact through transformation. Powered by technology, driven by AI, inspired by people, and led by our purpose, we partner with our clients from design to operation. Our AI-driven digital solutions, proprietary platforms, engineering, R&D, products, and innovation ecosystem turn core challenges into impactful, disruptive business outcomes. With deep industry knowledge and a future-ready mindset, we infuse expertise, innovation, and agility into our clients' organizations—delivering measurable value and positive lasting change for them, their customers, and communities around the world. Together, with 30,000+ employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com.


(Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR

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