Indian Banks Pass Stress Test, but Face Growing AI-Based Cyber Threats

According to the report's data, the country's commercial banks (SCBs) are fully safe and sound. The main reasons behind this strengthening of the banking and non-banking sector are: The results of the'Macro Stress Test'conducted from the Reserve Bank to assess the strength of the system have been quite positive. According to the report, even if there is a major economic shock to the economy in the future or hypothetically adverse situations arise, the Indian banking system is easily able to withstand it. Even in times of any such crisis, the total capital ratio of banks will remain well above the limit set by the regulator, which is a great relief for ordinary depositors. Despite the excellent financial strength, the report has serious warnings about a major technological threat. Currently,'AI-based cyber attacks'have emerged as the biggest and most urgent challenge from the point of view of cyber threats. In addition, rapid growth in artificial intelligence (AI) and increasing technological disruption across the globe are turning the global political landscape into a global force of global political power. RBI Governor Malhotra said that AI is transforming the global political landscape.