During a press conference in Pune, Union Finance Minister Nirmala Sitharaman stressed the necessity for Indian banks to adopt a proactive approach to combat emerging threats posed by artificial intelligence (AI). Following a high-level meeting with key stakeholders, including the Reserve Bank of India and the National Payments Corporation of India, Sitharaman noted that while Indian banks have historically avoided major cyber incidents due to robust security measures, the evolving landscape of AI presents new challenges that require innovative solutions. She called for banks to collaborate under the Indian Banks' Association to identify vulnerabilities and enhance defensive capabilities, including the recruitment of cybersecurity professionals. Additionally, Sitharaman acknowledged the geopolitical implications of the West Asia crisis, particularly its effect on crude oil prices, and reiterated the importance of a flexible roadmap for the banking sector's future, aimed at addressing various economic challenges.