RBI Model Risk Management
RBI model-risk readiness for every lending decision system
An evidence-ready control plane for the models, BRE rules, scorecards, AI use cases, third-party dependencies, and co-lending workflows behind your lending decisions — so when the board or the regulator asks, the answer and the evidence are already in one place.
Built by the team behind Apache Fineract · Append-only evidence ledger · Four-eyes governance · Human-authoritative by design
The expectations just widened. The evidence work didn't get easier.
RBI's June 2026 draft Guidance on Model Risk Management, with the FREE-AI framework, widens what lenders must govern — a board-approved framework, a complete model inventory, risk tiering, independent validation, AI/ML controls, and accountability for third-party and co-lending models. The hard part was never the policy; it is proving, on demand, what exists, who owns it, what's validated, and what's ready for the board.
Most lenders can answer only by stitching spreadsheets together the week before a Risk Committee. Lokta replaces the stitching with a system of record.
One control plane, from scattered evidence to a board-ready pack
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Inventory every decisioning asset
Models, rules, scorecards, AI use cases, vendor APIs, and co-lending — one catalogue.
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Score your readiness
Against the draft, dimension by dimension, with the gaps ranked.
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Track and close evidence gaps
A live queue of what's missing, who owns it, and what “ready” means.
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Govern the record
Approvals, exceptions, and changes with four-eyes sign-off and an immutable trail.
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Generate the board pack
A Risk-Committee-ready evidence pack in minutes.
See where your model-risk evidence actually stands
From one inventory to a board-ready pack — built so the evidence is examination-ready, and a human stays the authority on every assertion.
One inventory of every decisioning asset
Models, BRE rules, scorecards, pricing calculators, AI use cases, bureau and vendor APIs, and co-lending dependencies — each with an owner, a risk tier, an evidence score, and a status. The whole decisioning surface in one catalogue, not a dozen spreadsheets.
Readiness scored against the draft, worst gaps first
A live board-readiness score across the twelve RBI model-risk themes, each one ranked, with the agent summarising which gaps to close first to lift the number before the Risk Committee meets.
A cited agent that proposes — a human decides
Ask about your estate and get an answer with citations to the exact record behind every claim. The agent drafts and surfaces; it never approves evidence or activates a control. Nothing moves without a person.
A board-ready pack, assembled from current evidence
Eleven sections — executive summary, readiness heatmap, high-risk assets, validation status, exceptions, third-party exposure — drafted from what is on record, with citations throughout. The agent never finalises; you review and snapshot it.
Every claim traces back to a record
Open Sources on any pack and each line links to the evidence behind it — the validation, the approval, the gap finding, the snapshot. Read-only references, so the pack holds up to the question no one prepared for.
Four-eyes on every action — acceptance is not execution
The agent's toolbox is read and create-draft only. Every action is logged as Proposed, then Accepted or Rejected by a named reviewer under two-person sign-off. Accepting a draft is never the same as activating a control.
Built for how RBI defines "model" — the whole decisioning surface
The draft's definition is deliberately broad: AI/ML, algorithms, decision rules, calculators — even the spreadsheets that materially shape a lending decision — plus the vendor and co-lending models you are now accountable for.
Most governance tools were built to watch AI models. Lokta was built for lending decisioning: deterministic BRE rules, scorecards, pricing logic, and third-party dependencies sit in the same catalogue as your AI use cases, governed the same way — because that is the surface a supervisor will examine.
Line-mapped to the June 2026 MRM draft
Every readiness dimension and gap in the self-benchmark traces back to a specific expectation in RBI's June 2026 draft. No generic global checklist retrofitted to India — purpose-built for the RBI examination your board is preparing for.
Governance you can trust, because it's governed itself
Append-only evidence ledger
Every action is preserved — who, what, when, source. Records cannot be quietly altered or deleted.
Four-eyes on every assertion
Validation, approval, exception, tier confirmation, and decommission all route through two-person sign-off.
Human-authoritative by design
Assistive agents propose and surface — they never approve, alter evidence, or activate a control without a person. Every agent action is logged.
You stay the authority
Lokta is your evidence system of record. Your validators, auditors, and board remain the decision-makers — we organise and ready the evidence; we do not sit in judgment of your models.
The people accountable when the regulator asks
- CROs
- Heads of Compliance
- Model-risk & credit-policy teams
- Data science leaders
- Internal audit
- CTOs
- Founders of fintech lenders
Designed for Middle Layer NBFCs, co-lending partners, and fintech lenders who carry the same accountability as a large bank — without a large bank's model-risk department.
Up and running on uploads — not a six-month integration
- 01
Upload
Your assets and existing records, with guided templates.
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See your readiness
On a live dashboard, scored against the draft.
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Close the gaps
From a prioritised queue, with owners and "ready" criteria.
- 04
Generate your board pack
Evidence-ready, in minutes.
Where does your model-risk evidence stand today?
Take the RBI MRM draft self-benchmark — 10 questions, anchored to the June 2026 draft. Get your readiness score instantly. No email needed to see where you stand.
Take the self-benchmark →Be among the first lenders to pilot RBI model-risk evidence readiness
We are onboarding a small group of design-partner lenders ahead of general availability. Join the waitlist to get early access and a readiness walkthrough.
Prefer to talk first? Book a 30-minute readiness walkthrough →
Questions a risk officer asks
The sharp ones — compliance, independence, third-party scope, integration, and the draft itself.
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Does Lokta make us "RBI compliant"?
No tool can. Lokta helps you build and maintain the evidence and readiness a lender needs to demonstrate its model-risk governance — the inventory, the validations on record, the approvals, the gaps, and the board pack. Compliance is your board's determination; we make it provable.
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You also build lending technology. Can you be our governance system?
Lokta RBI MRM is your own system of record — it organises and evidences the controls you run. Your validators, auditors, and board remain the independent authority over your models. We do not validate or certify models; we make the evidence examination-ready. Where required, your data stays walled from any other Lokta product.
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We use third-party and co-lending models. Are those covered?
Yes — that is a core reason Lokta exists. Vendor, bureau, and co-lending dependencies sit in the same catalogue as your own assets, with ownership and oversight evidence tracked against the draft's expectation that accountability is not outsourced.
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Do we need to integrate our systems first?
No. Start with guided uploads and get a readiness dashboard and board pack from day one. Deeper source-system evidence APIs are available when you are ready.
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Is the June 2026 guidance final?
It is a draft, out for public consultation. Lokta is built around evidence and board-readiness that serve your Risk Committee today — and we track the guidance as it finalises so your mapping stays current.