Are you ready to navigate the future of AI in Indian banking and finance? The Reserve Bank of India (RBI) has unveiled its FREE-AI framework, a comprehensive 26-point roadmap to responsibly integrate artificial intelligence into the financial sector. At the upcoming OZG Digital Event, we will unpack this guideline in depth and translate it into practical steps for Ozgians (chartered accountants, company secretaries, compliance officers, fintech engineers, and legal professionals).
At its core, FREE-AI focuses on ethical AI deployment. RBI expects transparency, fairness, explainability, and accountability in AI models to prevent biased outcomes in lending, credit appraisal, customer scoring, and automated decision-making. We will discuss how to convert these principles into board-approved policies, standard operating procedures, and audit-ready documentation that align with your internal control and governance frameworks.
A key pillar of the framework is AI Kosh, RBI’s proposed centralized data infrastructure platform. Think of it as a national repository of curated, anonymized financial datasets for AI training and testing. During the event, we will explore how banks, NBFCs, fintechs, and their advisors can use AI Kosh to build and validate models while staying compliant with the DPDP Act, data localization expectations, and sectoral privacy obligations. This will be especially relevant for professionals drafting data sharing agreements, consent frameworks, and internal data governance policies.
Innovation is encouraged through AI sandboxes for regulated entities. These controlled environments allow institutions to experiment with generative AI and machine learning prototypes without exposing the full balance sheet to unknown risks. We will cover how to structure sandbox experiments, define test metrics, document risk findings, and prepare approval notes for boards, audit committees, and regulators so that pilots can be safely scaled into production.
Governance and risk management are non-negotiable under FREE-AI. The framework sets expectations around credit assessment, model validation, stress testing, and ongoing risk monitoring. We will walk through how to integrate AI-based credit scoring with human oversight, three-lines-of-defence models, internal audit reviews, and regulatory reporting. For emerging players, including smaller NBFCs and fintech startups, RBI indicates supportive measures such as lighter reporting in early stages and priority access to sandbox resources. We will discuss how to structure your compliance roadmap to benefit from these enablers.
For compliance officers, CAs/CSs in practice, and legal advisors registered at the OZGIAN platform, the event will include ready-to-use checklists and draft clause ideas. These will cover multilingual AI models that operate across Hindi, English, regional languages, and dialects, and the associated risks around misinterpretation, mis-selling, and disclosure obligations. We will also address liability architecture: allocation of responsibility between the regulated entity, the AI vendor, cloud service providers, and outsourcing partners; implications for contractual drafting; and potential use of insurance covers, indemnities, and limitation of liability provisions under evolving regulatory expectations.
This event constitutes a practitioner-oriented framework for implementing artificial intelligence (AI) in alignment with the Reserve Bank of India (RBI) regulatory framework on Responsible AI. The OZG Digital Event provides actionable guidance to operationalize the RBI's guidelines into verifiable action plans, compliant documentation, and robust governance mechanisms capable of withstanding regulatory examination.
Apply for the OZGIAN Membership:
Go to ➡ membership.ozgian.com
Book your ticket at the link:
Go to ➡ ticket.ozgdigital.com
Ticket @ ₹999/ + ₹192/ OZGiAN Membership Fee.
