RBI Committee Recommends AI Framework for India’s Financial Sector

/in /tarafından

A Reserve Bank of India (RBI) committee has proposed a comprehensive framework to develop AI capabilities in the country’s financial sector while managing associated risks. The recommendations, released Wednesday, aim to balance innovation with security and governance.

Key proposals include creating digital infrastructure for building indigenous AI models, establishing a multi-stakeholder committee to assess risks and opportunities, and setting up a fund to support homegrown AI solutions tailored to India’s financial services. The report contains 26 recommendations across six areas: infrastructure, capacity, policy, governance, protection, and assurance.

Other notable suggestions include integrating AI with digital public platforms such as the Unified Payments Interface (UPI) and designing audit frameworks for responsible AI adoption. The committee, led by IIT Bombay computer scientist Pushpak Bhattacharyya, was tasked with developing the Framework for Responsible and Ethical Enablement of AI (FREEAI). The RBI emphasized that regulating AI requires balancing societal benefits with risk mitigation.

Bullish Prices IPO Above Range, Raises $1.11 Billion

/in /tarafından

Bullish, the cryptocurrency exchange backed by billionaire Peter Thiel and owner of media outlet CoinDesk, has priced its U.S. initial public offering (IPO) at $37 per share, above its earlier target of $32–$33. The offering raised $1.11 billion from 30 million shares, valuing Bullish at $5.41 billion.

The IPO comes as U.S. equity markets see a rebound after more than two years of a dry spell. Other high-profile recent offerings include stablecoin issuer Circle Internet, whose shares have surged over 400% since its IPO in June, and design software maker Figma, which jumped 250% in its market debut two weeks ago.

Bullish, led by former NYSE president Tom Farley, operates a crypto exchange offering spot trading, futures, and derivatives, and is expected to begin trading on the NYSE under the ticker “BLSH” on Wednesday. Institutional investors such as BlackRock and Cathie Wood’s Ark Investment Management have committed to buy up to $200 million in shares. JPMorgan, Jefferies, and Citigroup are the IPO’s lead underwriters.

The listing reflects growing investor confidence in crypto, bolstered by U.S. President Trump’s July law creating a regulatory framework for stablecoins—a move widely seen as legitimizing the crypto industry.

Brazil’s Lula Announces Social Media Regulation Proposal Ready for Congress

/in /tarafından

Brazilian President Luiz Inacio Lula da Silva stated on Tuesday that a proposal to regulate social media platforms in Brazil is finalized and will be sent to Congress shortly.

KEY DETAILS

  • Lula told BandNews the proposal will be on his desk on Wednesday afternoon, enabling the government to forward it to lawmakers.

  • The initiative comes amid ongoing global discussions on digital regulation and content moderation.

TRADE AND DIPLOMACY CONTEXT

  • Earlier this month, U.S. President Donald Trump imposed 50% tariffs on Brazilian imports, citing “unfair trade practices” in digital trade and political tensions related to former President Jair Bolsonaro.

  • Lula expressed willingness to meet Trump, emphasizing a civilized dialogue between heads of state.

  • The Brazilian leader also confirmed sending an invitation to Trump for COP30, the global climate summit to be hosted in Brazil later this year.

  • Lula plans to call leaders from France, Germany, and the EU next week to discuss ongoing negotiations between the EU and the South American Mercosur bloc.

CONCLUSION
The proposal marks a significant step in Brazil’s efforts to regulate digital platforms, amid rising international attention on social media governance and trade relations with the United States.