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      Question

      What is the main aim of the RBIтАЩs newly formed

      committee on Artificial Intelligence (AI) in the financial sector?
      A To regulate the pricing of AI-based financial products Correct Answer Incorrect Answer
      B To create a framework for ethical AI usage in financial services Correct Answer Incorrect Answer
      C To monitor AI adoption in global financial markets Correct Answer Incorrect Answer
      D To develop new AI-based financial products Correct Answer Incorrect Answer
      E To impose taxes on AI-driven financial companies Correct Answer Incorrect Answer

      Solution

      The Reserve Bank of India set up a committee to develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector, with the aim of ensuring ethical AI usage and assessing its current adoption.

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