India’s central bank proposes AI, blockchain adoption for banking sector

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A top official from India's central bank has proposed that the banks employ AI and blockchain to ensure long-term growth and stability.

The move comes against the backdrop of the Indian government’s ambiguous attitude towards cryptocurrencies.

He also said there is a need for more exclusive innovations that may be helpful in dealing with the financial industry’s new and severe issues.

In India, there is no central authority that regulates cryptocurrency as a payment medium. There are no norms and regulations, nor are there any standards for resolving issues while dealing with cryptocurrency.

 

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