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flag India's RBI forms committee for AI ethics in finance, enhancing credit access and fighting digital fraud.

flag The Reserve Bank of India (RBI) is forming a committee to develop ethical guidelines for AI in the financial sector, focusing on transparency and data protection. flag This initiative aims to promote the safe integration of AI while addressing risks like algorithmic bias and data privacy. flag Additionally, the RBI is expanding credit accessibility through the Unified Payments Interface (UPI) for Small Finance Banks and launching an AI-driven tool, MuleHunter.AITM, to combat digital fraud involving mule accounts.

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