IN-T3 Regulated-Entity AI Readiness Checklist (RBI, SEBI, IRDAI)
Verification required. This is a working template, not a regulator-approved form. Where it names an instrument or a date, the claim comes from secondary sources or from memory of the law and is a pointer to check. This is not legal advice.
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For banks, NBFCs, intermediaries and insurers. The themes follow the reported structure of the RBI FREE-AI report [Reported]. The list of recommendations was not seen, so fill in the recommendation numbers from the RBI report.
| # | Theme | Question | Status | Evidence | Wiki control |
|---|---|---|---|---|---|
| 1 | Governance | Board-approved AI policy and a named accountable executive | AI-CTRL-012 | ||
| 2 | Inventory | Complete AI and model inventory with risk rating | AI-CTRL-011 | ||
| 3 | Model risk | Independent validation before use and on change, in line with the RBI model risk draft | AI-CTRL-037, AI-CTRL-038 | ||
| 4 | Fairness | Bias testing and customer outcome review | AI-CTRL-041 | ||
| 5 | Explainability | Explanation for adverse customer decisions | AI-CTRL-041, AI-CTRL-023 | ||
| 6 | Human oversight | Review and override; kill switch | AI-CTRL-023, AI-CTRL-025 | ||
| 7 | Vendors | Due diligence and outsourcing controls for AI suppliers | AI-CTRL-014 | ||
| 8 | Data | Lawful basis, localisation, retention | AI-CTRL-013, AI-CTRL-007 | ||
| 9 | Cyber | AI-specific security testing; incident reporting | AI-CTRL-005, AI-CTRL-035 | ||
| 10 | Consumer protection | Disclosure that AI is used; grievance route | AI-CTRL-039 | ||
| 11 | Capacity | Training of staff and board | AI-CTRL-012 | ||
| 12 | Sector filings | Circular-specific disclosures (SEBI); IRDAI directive actions | AI-CTRL-038 |
Overall rating: __ Owner: _ Date: Next review: ___