RBI governor meets bank CEOs to discuss AI, geopolitics and ECL guidelines

RBI governor met bank CEOs to discuss geopolitical risks, AI, ECL guidelines, cybersecurity, digital currency, and FCNR(B) deposit mobilisation. Oil prices spiked over 9% to $83.30 per barrel after the US reimposed a naval blockade on Iran and launched fresh military strikes, raising energy import cost concerns for India. Banks expect $30-50 billion in FCNR(B) and ECB inflows by the September-end deadline, though high overseas rates and market volatility have slowed progress.