QRC & CSAI Hosts Maharashtra Roundtable on AI Risk Governance

Navi Mumbai, India – 18 July 2026: As Artificial Intelligence becomes increasingly embedded across banking and financial services, the conversation is shifting from what AI can do to how organizations can govern its risks responsibly.

Against this regulatory backdrop, QRC Assurance And Solutions, in collaboration with the Cyber Security Association of India (CSAI), hosted the CSAI Maharashtra Chapter Industry Roundtable, bringing together leaders and professionals to discuss the Reserve Bank of India’s Draft Guidance on Regulatory Principles for Model Risk Management, 2026. The occasion also marked the official inauguration of the CSAI Maharashtra Chapter, establishing a new platform for continued industry collaboration around cybersecurity, responsible AI and digital trust.

RBI’s Draft Puts Model Risk in the Governance Spotlight

The timing of the roundtable was significant. Released on 24 June 2026, RBI’s draft proposes a comprehensive governance and risk-management framework covering models used by regulated entities, including Artificial Intelligence and Machine Learning models.

The proposals extend across the model lifecycle – from development and validation through deployment, monitoring, change management and eventual decommissioning. For AI and ML specifically, the draft introduces considerations around areas such as explainability, bias and fairness, hallucination risks, human oversight, cybersecurity safeguards, monitoring and customer transparency.

This changes the nature of the AI governance conversation for financial institutions.

Moving the Discussion from Regulation to Implementation

The CSAI Maharashtra Chapter Industry Roundtable focused precisely on this transition. Participants examined the RBI draft, discussed governance and implementation considerations, exchanged industry experiences and challenges, and explored practical recommendations for strengthening AI governance across financial services.

The discussions highlighted a fundamental question facing regulated organizations: how can innovation continue while accountability remains clear throughout the AI and model lifecycle?

That requires organizations to consider more than model performance.

Leadership Supporting the Dialogue

The event reflected the collaborative efforts of QRC and CSAI in bringing together perspectives from cybersecurity, governance and industry.

QRC acknowledged the leadership and contribution of Prof. NK Goyal and Lt. General (Dr.) Rajesh Pant, Chairman of CSAI and former National Cyber Security Coordinator, Government of India.

The newly inaugurated Maharashtra Chapter brings together a leadership group spanning cybersecurity, financial services, governance and emerging technology. The Chapter leadership includes:

• Adv. Pinky Bhansali, Head – Maharashtra Chapter
• Betty Varghese, Technology Risk & Cyber Governance Professional
• Sanjeev Khanna, former AGM-CISO, State Bank of India
• Vamsi Krishna Maramganti, CEO, QRC Assurance And Solutions
• Dr. Shravani Shahapure, Quantum Safe Cyber Security Expert

Their involvement establishes a foundation for continued engagement with the cybersecurity and technology community across Maharashtra.

Inaugurating the CSAI Maharashtra Chapter

Alongside the regulatory discussion, the inauguration of the CSAI Maharashtra Chapter marked an important milestone for the regional cybersecurity ecosystem.

CSAI brings together professionals and stakeholders working across cybersecurity, technology, policy and digital governance. The Maharashtra Chapter creates an additional platform for industry leaders to exchange knowledge and contribute to discussions around evolving cybersecurity and emerging-technology risks.

For QRC, collaborating on the roundtable and supporting the Chapter’s inauguration aligns with a broader commitment to strengthening knowledge exchange around cybersecurity, governance, AI risk and responsible technology adoption. The initiative also creates opportunities for future dialogue as organizations respond to a regulatory landscape that is increasingly addressing AI alongside traditional cybersecurity and technology risks.

What the RBI Draft Means for Financial Institutions

The direction emerging from RBI’s proposed guidance is clear: AI adoption and model governance will increasingly need to evolve together.

For banks, NBFCs and other regulated financial entities, readiness may therefore require a broader examination of existing governance structures.

Organizations may need to understand their complete model landscape, establish clear ownership, classify models according to risk, strengthen independent validation, monitor models throughout their lifecycle and establish appropriate governance over third-party AI technologies.

For Boards and senior management, the challenge is equally important.

Responsible AI requires organizations to demonstrate not simply that controls exist, but that accountability, transparency and oversight remain effective as models and technologies evolve. The roundtable provided a timely opportunity for the industry to begin examining these implications collectively.

Continuing the Responsible AI Conversation

The CSAI Maharashtra Chapter Industry Roundtable demonstrated the value of bringing regulators’ expectations, industry experience, cybersecurity expertise and governance perspectives into the same conversation.

As AI adoption accelerates, collaboration of this kind will become increasingly important in translating emerging regulatory principles into sustainable organizational practices.

QRC Assurance And Solutions and the Cyber Security Association of India look forward to continuing these conversations through the Maharashtra Chapter and supporting greater awareness around responsible AI, cybersecurity, model risk management and digital trust.

Follow QRC Assurance And Solutions and the CSAI Maharashtra Chapter for further industry discussions on AI governance, cybersecurity, model risk and responsible technology adoption.