In May 2025, the Reserve Bank of India (RBI) released its Annual Report for the fiscal year 2024–25, detailing the central bank’s regulatory developments and performance within the fintech and payments sectors. Key highlights include the expansion of the Central Bank Digital Currency (CBDC) to new use cases, including cross-border pilots, and the introduction of business-to-customer functionality in the Unified Lending Interface (ULI). Additionally, the RBI plans to scale its AI/ML (Artificial Intelligence/Machine Learning) solution, MuleHunter.AI, across more financial institutions, alongside establishing a framework for responsible AI adoption within the sector. These initiatives signal the RBI’s commitment to driving innovation and enhancing digital financial services.
In this video, MediaNama journalist Ishika Gupta explains the RBI’s report, which outlines several initiatives aimed at strengthening India’s payments ecosystem and ensuring cybersecurity preparedness. The Department of Payment and Settlement Systems (DPSS) is tasked with evaluating digital payment trends and launching a prototype for a digital payments intelligence platform. Moreover, the RBI is focusing on improving cross-border payment efficiency and advancing the Indian Financial Sector Cloud (IFS) infrastructure. The report also emphasizes strengthening consumer protection, enhancing the grievance redressal framework, and improving the RBI’s complaint management system. These efforts reflect the RBI’s holistic approach to fostering a secure, efficient, and consumer-friendly financial environment.
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