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The Reserve Bank of India released draft guidance on model risk management for AI/ML models used by regulated financial entities, applying across most RBI-regulated sectors and covering both internally developed and third-party models. India's regulator indicated additional AI-specific requirements may follow.
So what for us
What it is: RBI published draft guidance on model risk management for AI/ML in regulated financial entities.
Why it matters: Establishes baseline regulatory expectation; likely precursor to UK/international harmonization of AI governance standards.
Workflow fit: Feeds directly into Model Risk Management and Compliance frameworks; informs vendor due diligence and internal control design.