Recently the Supreme Court released a comprehensive guidance on the use of AI in Judiciary for which comments were filed by Naavi/FDPPI ( Copy of comments ) , after many articles here.
Some time back, Naavi.org had reported about the Bhattacharya Committee having published its report on “Framework for Responsible and Ethical Enablement of AI, referred to briefly as -FREE-AI).
Now RBI has adopted the recommendations and released a draft guideline for public comments, copy of which is available here.
Draft Guidelines for AI for Public Comments
According to the Press release, comments can be submitted by public till July 24, 2026
The comments / feedback may be submitted through the link under the ‘Connect 2 Regulate’ Section available on RBI’s website or alternatively be forwarded to:
The Chief General Manager, Operational Risk GroupDepartment of Regulation, Central OfficeReserve Bank of IndiaShahid Bhagat Singh Marg, FortMumbai – 400 001
Or
By e-mail with the subject line ‘Feedback on Guidance on Regulatory Principles for Model Risk Management’
According to the Press release, the objectives of this document is as follows:
The Reserve Bank had issued the draft “Regulatory Principles for Management of Model Risks in Credit” on August 05, 2024, with a view to strengthen governance and risk management practices relating to use of models in credit, followed by report of the Committee on Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) on August 13, 2025. Considering model usage has expanded significantly and regulated entities are increasingly using models, including those employing Artificial Intelligence / Machine Learning (AI / ML), across various business and decision-making processes; weaknesses in their governance, oversight, risk management and controls may expose the regulated entities to financial, operational, compliance, and reputational risks. Recognising this, the Reserve Bank has today released draft ‘Guidance on Regulatory Principles for Model Risk Management’ which provides holistic and broad regulatory expectations for model risk management across the model lifecycle. The Guidance is applicable to all models used by regulated entities, including third party models and models employing AI / ML.
To facilitate public to formulate their views, some comments shall be provided here in a series of articles. Hope it would be of use.
Naavi
