Banks can’t outsource accountability for algorithmic decisions: RBI Deputy Governor

“An institution may outsource the computation, but it cannot outsource the consequence,” said Rohit Jain, Deputy Governor, Reserve Bank of India, in a keynote address at Global Fintech Fest (GFF) 2026, on why banks and other regulated entities cannot shift responsibility for algorithm or AI decisions onto the vendors or developers that build or supply the underlying models. AI complexity cannot excuse a lack of accountability: Jain further said that the growing sophistication, complexity or unex