Artificial intelligence will be a defining force in the further transformation of Clearing Corporation of India Ltd (CCIL), said C S Setty, chairman, State Bank of India, adding that it is positioned to lead the next phase. 

“In this dynamic environment, CCIL’s role will become even more strategic. Artificial intelligence will be a defining force in this transformation, having the potential to significantly enhance risk management, improve operational efficiency and enable real-time market surveillance,” he said on Wednesday while speaking at an event celebrating 25 years of CCIL. 

Setty noted that AI would help in real-time risk assessment and more accurate prediction of counterparty exposures by analysing vast data sets of historical transactions, counterparty behaviour and market conditions. 

CCIL positioned to lead the next phase

CCIL is positioned to lead the next phase, considering its track record of innovation, strong risk management framework and close alignment with regulatory vision, Setty said. 

Setty emphasised that CCIL’s next phase won’t focus merely on scaling up, but on achieving intelligent scale. “Financial markets are now evolving at a faster pace, are more interconnected and complex. New asset classes will emerge, cross-border flows will intensify and risk will develop in ways that are less visible, but potentially more systemic.” 

He highlighted the need for innovation and prudence for new frontiers such as digital assets, tokenised securities and enhanced cross-border settlement mechanism. “Cyber resilience, technological robustness and regulatory alignment will remain critical pillars as we navigate this evolving landscape.” 

Setty unscored CCIL’s pivotal role in transforming the market to date. “In these 25 years, India has transitioned from paper-based settlements and episodic volatility to a resilient digital and increasingly sophisticated financial ecosystem. Through every phase of this transformation, CCIL has been part of this country’s financial nervous system…”