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RBI Model Risk Management Guidance (draft)
Guidance on Regulatory Principles for Model Risk Management, 2026 (draft, issued by the Reserve Bank of India for public comments)
Zusammenfassung
Draft guidance requiring regulated entities to establish human oversight for AI models, including override, suspension or deactivation mechanisms described as kill-switch arrangements, and retention of decommissioned models for ten years.
Anwendungsbereich
All models used by Reserve Bank of India regulated entities, including third-party models and models employing artificial intelligence or machine learning, across the model lifecycle.
Erfordert
- disable-capability
- human-oversight
- record-preservation
Daten
introduced: 2026-06-24 | adopted: — | inForce: — | appliesFrom: —
Quellen
- Reserve Bank of India — 2026-06-24 — primary — https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63006
- Reserve Bank of India — 2026-10-05 — primary — https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=5089
- ThePrint — 2026-06-26 — https://theprint.in/tech/a-human-firmly-in-the-loop-rbi-proposes-kill-switch-for-ai-used-by-banks-nbfcs/2970201/
Hinweise
Why regulates is recorded as deployer
The duty attaches to the entity that uses the model, not the entity that built it:
An RE acquiring, using or relying upon third-party models at any stage of the model lifecycle is accountable for its outcomes.
This is the only instrument in this register whose stop obligation falls on the operator of a deployed model. Every other entry binds a developer, binds an operator-provider above a revenue threshold, is split between the two, or is recorded as unclear.
The required capability
override, suspension, or deactivation mechanisms, including kill-switch arrangements
The same provision requires “Human-in-command arrangements (e.g., human-in-the-loop / human-on-the-loop” and “periodic review of model outputs and model-driven decisions by humans to identify anomalies”.
Retention
Decommissioned models are to be retained “for at least ten years from the date of
decommissioning”, and regulated entities are to “maintain a comprehensive record / log of
changes and versioning, and approvals”. That is the basis for the record-preservation
tag.
Covered entities
From the retrieved draft: commercial banks including foreign banks, small finance banks, payments banks, local area banks, regional rural banks, urban and rural co-operative banks, non-banking financial companies across all layers, all-India financial institutions (EXIM, NABARD, NaBFID, NHB, SIDBI), asset reconstruction companies, and credit information companies.
What is not in this instrument
incident-reporting is not tagged. No obligation to report a model failure or a
loss-of-control event to the Reserve Bank was identified in the retrieved draft.
safe-state is not tagged. No defined safe state or fallback to non-artificial-intelligence
control was identified in the retrieved draft.
Status and provenance caveats
This is a draft issued for public comment, not a final instrument. Comments were
invited until 2026-07-24 and that window is closed. No final version had been issued as
of 2026-10-12; a search of the Reserve Bank’s own site returned only the draft and the
press release. status is recorded as proposed for that reason.
Section and paragraph numbers are deliberately omitted from this page. The paragraph references extracted from the draft were internally inconsistent — the oversight provisions were attributed to one section and the record-keeping provision to another, out of sequence. The quoted wording was consistent across the Reserve Bank’s own page and two independent accounts; the numbering was not, so no provision above is cited by number.
Date discrepancy, recorded rather than resolved. The press release is dated
2026-06-24. The draft document as served carries an unsigned reference number and the
placeholder “June xx, 2026” in place of a date, which is consistent with a pre-signature
draft. Secondary accounts give release dates of 2026-06-25 and 2026-06-26.
dates.introduced carries the press release’s own date.
Source composition
Two of the three sources above share one publisher, the Reserve Bank of India, and both are primary. ThePrint is the second distinct publisher and is not primary. The gate is met on unique publishers, not on source count.