Trump backs government AI safeguards in banking system, acknowledges risks

April 15, 2026 6:04 PM

Trump backs government AI safeguards in banking system, acknowledges risks

U.S. President Donald Trump acknowledged the risks artificial intelligence posed to the banking system and said there should be government safeguards, but also believed the technology could make the banking system better and safer, according to an interview broadcast on Wednesday. Asked if AI could undermine confidence in the banking system, Trump told Fox Business Network: "Yeah, probably. But it could also be the kind of technology that allows greatness in the banking system, makes it better ...

RBI to discontinue daily Variable Rate Repo auctions amid liquidity surplus

June 10, 2025 2:32 PM

RBI to discontinue daily Variable Rate Repo auctions amid liquidity surplus

The Reserve Bank of India (RBI) on Tuesday announced that it will discontinue daily Variable Rate Repo (VRR) auctions from June 11, 2025, in light of a growing liquidity surplus in the banking system, which currently stands at approximately ₹3 lakh crore. In a statement, the RBI said, “Further, on a review of current and evolving liquidity conditions, it has been decided that the daily VRR auctions, as announced in the above press release, will be discontinued with effect from June 11, 2025...