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Rules / India

Report of the Committee to develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the Financial Sector

In forceGuidelineNon-binding

RBI committee report setting 7 ‘sutras’ and 26 recommendations under six pillars for AI use by banks, NBFCs and other regulated entities, including board-approved AI policies, AI incident reporting, disclosure to customers and an AI innovation sandbox. It is a framework report and has no binding force as directions.

Why it matters

It signals what RBI supervisors will expect from regulated lenders using AI; its recommendations are now being converted into RBI guidance (see draft Model Risk Management guidance, June 2026).

What it requires

Human oversightIncident reportingData governanceRegulatory sandboxTransparency to usersConsumer rights
SourceReserve Bank of India: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=61018 Checked against the source on 4 Oct 2026.

Cite this record

WTA-R-IN-0004: Report of the Committee to develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the Financial Sector. Reserve Bank of India. wheresthe.ai, https://wheresthe.ai/rule/in-rbi-free-ai-framework-2025/ (checked 4 Oct 2026).

History

  • Summary changed from …report, not binding… to …report and has no binding force as…

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