On March 17, India's central bank governor Sanjay Malhotra highlighted that central bank-regulated entities could employ artificial intelligence internal controls to address consumer complaints regarding mis-selling and aggressive practices. In the 2023-2024 fiscal year, 95 commercial banks in India received over 10 million customer complaints, indicating the need for action.

Malhotra emphasized the importance of proactively addressing complaints due to the rapid expansion of customer bases and product offerings. He pointed out that utilizing AI could enable financial institutions to analyze vast amounts of data to detect issues like ATM failures or incorrect charges, providing timely alerts.

Additionally, Malhotra suggested using AI-driven chatbots and voice recognition tools to bridge language barriers in India's linguistically diverse landscape. He also stressed the necessity for financial institutions to invest in human resources to enhance customer service and grievance redressal processes.