RBI Deputy Governor Swaminathan J is driving key banking sector reforms in India, advocating a shift from periodic to continuous supervision amid digital risks. In a January 2026 speech at the College of Supervisors Conference, he urged banks to prioritize year-round operational resilience, data integrity, and ecosystem oversight over quarter-end compliance, warning that traditional balance sheet checks fall short against cyber threats and AI-driven vulnerabilities. His push addresses rising digital frauds, third-party dependencies, and model risks, calling for technology-neutral, risk-based rules with clear accountability—even when outsourcing to fintechs. Recent emphases include governance ownership, fraud pattern-sharing, and granular district-level credit planning for inclusion. These reforms aim to fortify stability without stifling growth, building on ECL provisioning and LCR guidelines, positioning India's banks for Viksit Bharat resilience.