Who is the chairperson of the RBI’s committee formed to develop the Framework for Responsible and Ethical AI (FREE-AI) in the financial sector as of December 2024?

The correct option is Professor Pushpak Bhattacharyya from IIT Bombay.

To understand why this option is correct, let's look at the background and context of the committee's formation:
As the use of Artificial Intelligence (AI) in the financial sector has grown exponentially, regulatory bodies like the Reserve Bank of India (RBI) have taken proactive steps to ensure these technologies are deployed safely and ethically. In late 2024, the RBI initiated the development of the Framework for Responsible and Ethical AI (FREE-AI) specifically tailored for the financial sector.

To guide this initiative, a specialized committee was formed comprising academic researchers, industry experts, and policymakers. Professor Pushpak Bhattacharyya, a distinguished professor from the Department of Computer Science and Engineering at IIT Bombay and a renowned expert in Natural Language Processing (NLP) and Artificial Intelligence, was appointed as the chairperson of this committee to lead the drafting of these crucial guidelines.