New Delhi, Dec. 16 -- The Minister of State for Micro, Small and Medium Enterprises (MSMEs) Shobha Karandlaje on Monday said that the government and the Reserve Bank of India (RBI) are promoting the responsible and ethical use of artificial intelligence (AI) in the financial sector to improve access to credit for MSMEs, while ensuring transparency, fairness, and regulatory oversight.

Replying to a question in the Rajya Sabha, Minister of State for MSMEs Shobha Karandlaje acknowledged the growing adoption of AI-driven tools by scheduled commercial banks for credit appraisal, noting that such technologies are being encouraged as enablers of faster processing, improved risk assessment, and greater financial inclusion, particularly for small...