Reserve Bank Governor Sanjay Malhotra warned on October 3 that present financial resilience should not be mistaken for a guarantee of future stability. Speaking at the Kautilya Economic Conclave in New Delhi, he highlighted risks from geopolitical events, cyberattacks and technological failures, according to PTI’s report that afternoon.
Moneycontrol’s October 3 report of the address says Malhotra identified stretched artificial-intelligence valuations as a potential source of global market disruption. He also said a correction could redirect some capital towards India.
Malhotra said he saw no imminent signs of stress. His message was that regulators and financial institutions should prepare before vulnerabilities become crises, including those linked to private credit and cyber threats. The address was a risk assessment, not a new policy-rate announcement.