New Delhi [India], October 20 (ANI): Growing geopolitical tensions, increasing use of artificial intelligence (AI) and risks emerging from non-bank financial institutions have raised fresh concerns over global financial stability, policymakers and experts highlighted during the Reserve Bank of India's (RBI) two-day SAMVAD 2026 seminar in New Delhi.

According to a series of posts shared by the RBI on social media platform X, discussions at the seminar focused on strengthening financial systems, managing emerging risks and ensuring that technological innovation does not undermine financial stability.

During a panel discussion on financial stability, RBI Deputy Governor Poonam Gupta observed that financial stability has become a policy objective in its own right, with the focus shifting from individual financial institutions to the broader financial system, including non-banking entities.

The RBI's post noted that participants highlighted the need to remain vigilant as 'crises were now coming quicker and were more intense.'

The discussions also stressed the importance of addressing risks arising from climate change, financial technology companies, increasing use of AI agents and geopolitical fragmentation.

Former RBI Governor and Principal Secretary-2 to the Prime Minister, Shaktikanta Das, also cautioned against emerging financial vulnerabilities linked to artificial intelligence.

Das highlighted how prolonged conflicts and growing global fragmentation were tightening financial conditions and increasing sovereign debt stress.

He also warned that untested AI valuations and uncertainty over profitability could increase financial vulnerabilities, while calling for stronger financial institutions, adequate financial buffers and improved regulatory supervision.

Meanwhile, Department of Economic Affairs Secretary Anuradha Thakur highlighted India's relatively strong position amid global uncertainty.

She stressed that India faces the challenging global environment from a 'position of macroeconomic stability', supported by a credible fiscal trajectory and flexible inflation targeting.

The seminar also examined the future of digital payments, particularly challenges surrounding AI-driven transactions and cross-border payment systems.

The RBI said discussions on payment systems highlighted the importance of 'access, affordability, security, speed, convenience and interoperability.'

Participants also emphasised common standards for cross-border transactions, stronger safeguards against financial crimes and improved access to domestic payment solutions.

On financial inclusion, Chief Economic Adviser V Anantha Nageswaran highlighted that expanding access to financial services could itself support income growth and create economic opportunities.

The discussions stressed that financial inclusion must move beyond access towards effective usage, financial empowerment and greater economic resilience.

The two-day international seminar, organised by the Reserve Bank of India, was held in New Delhi on October 19 and 20. It began with a welcome address by RBI Governor Sanjay Malhotra and a keynote address by Union Finance and Corporate Affairs Minister Nirmala Sitharaman. (ANI)