New Delhi, April 24 — Finance Minister Nirmala Sitharaman said on Friday that Indian banks are adequately prepared to face emerging technology-related challenges, while warning of fresh risks linked to Anthropic’s new Mythos AI model and urging heightened vigilance across the sector.
Speaking to reporters, Sitharaman said India is closely monitoring potential threats posed by the Mythos AI model, which has attracted global attention for its advanced capabilities. She stressed that the country is assessing how such technology could affect the banking ecosystem.
The minister said the Ministry of Electronics and Information Technology (MeitY) is actively engaging with international governments and authorities to better understand the model’s risks and to evaluate possible impacts on Indian financial institutions.
Sitharaman acknowledged that Indian banks remain resilient but noted that the rapid evolution of artificial intelligence demands greater oversight. She indicated that existing regulatory and security frameworks may need updating to address newer and more sophisticated AI-driven threats.
Highlighting the need for coordinated action, the finance minister said banks have been asked to work together on this issue. The Indian Banks’ Association will lead consultations among lenders to address concerns and strengthen sector-wide preparedness. Her remarks followed a warning a day earlier that the Mythos model poses “unprecedented” risks.
Separately, Sitharaman reiterated comments made at the National Institute of Public Finance and Policy’s golden jubilee on April 6, saying: “India has fiscal space with room to maintain the government’s capex programme, room for the RBI to cut rates and room to offer targeted support to affected sectors. This is the dividend of a decade of fiscal discipline that is paying dividends.”
Taken together, the statements signal closer scrutiny of advanced AI by regulators and bankers, even as the government highlights India’s fiscal strength and the Reserve Bank of India’s policy flexibility amid emerging technological and economic challenges.
Original Source: https://tripurachronicle.in/national-news/fm-sitharaman-warns-of-unprecedented-risks-from-anthropics-mythos-ai-says-banks-must-stay-vigilant/
Category: National News
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Publish Date: 2026-04-24 16:52:00
