The Reserve Bank of India (RBI) held its half-yearly meeting with the Managing Directors (MDs) and Chief Executive Officers (CEOs) of Public Sector Banks and selected Private Sector Banks in Mumbai on July 14, 2026. The meeting focused on the performance of the banking sector, new technologies, customer service, and important financial initiatives.
Senior RBI Officials Attended the Meeting
The meeting was chaired by the RBI Governor. It was attended by Deputy Governors Shri Swaminathan J., Dr. Poonam Gupta, Shri S. C. Murmu, and Shri Rohit Jain. Executive Directors responsible for supervision, regulation, enforcement, consumer protection, financial inclusion, and other key areas also took part in the meeting.
RBI Governor Appreciates Banking Sector Growth
In his opening speech, the RBI Governor said that the banking sector has shown strong and broad-based growth. He encouraged banks to continue supporting all sections of the economy with responsibility, efficiency, and careful planning.
Banks Asked to Use AI and Advanced Technology
The Governor advised banks to make better use of advanced technologies, including Artificial Intelligence (AI). He said that AI can help banks reach more customers, improve efficiency, reduce operating costs, and provide better customer service. At the same time, he stressed the importance of strong cybersecurity, effective internal controls, and proper safeguards to prevent fraud and misuse of customer data.
Focus on Better Customer Service
The Governor also asked banks to put customers at the centre of their operations. He said banks should work towards providing excellent customer service and build a customer-focused banking system.
Other Important Topics Discussed
The meeting also covered several important banking and financial initiatives. These included the Central Know Your Customer Registry (CKYCR), early detection of Fake Indian Currency Notes (FICN), adoption and promotion of the MuleHunter system to detect mule accounts, the Central Bank Digital Currency (CBDC), Unified Lending Interface (ULI), Account Aggregator framework, FX Retail services, and the RBI Retail Direct platform.
Banks Shared Their Feedback
During the meeting, bank representatives shared their views and suggestions on these topics. They also discussed other important issues affecting the banking and financial sector.
