7 May 2024 (Tuesday)

Road Map for Deploying GenAI Systems

What's the matter: State-run banks are set to develop a detailed strategy and road map for
deploying generative artificial intelligence (GenAI) systems, with pilot use-cases to be rolled
out within this financial year.

What will be the plan:

1) The lenders will also establish AI-friendly policies and governance systems, focusing
on capability development.
2) Banks will look to strengthen the data governance and analytics functions to drive
specialised use cases.
3) Each bank will develop its own strategy and look at collaborations. This will be part of
the year-end assessment of banks.

Where can Banks use AI:

1) To develop digital marketing capabilities and tech stacks to source business.
2) Engagement through social Media
3) Listening activities to track share of voice
4) Improving customer satisfaction and brand health.
5) Improving operational efficiency and the quality of back-office operations.

Sebi says No to Market extension

What's the matter: The NSE (National Stock Exchange) has submitted the application for
the increase in the time of market in India to Sebi (Security & Exchange Board of India) but
after a mix of arguments from traders the Sebi has returned the application back without
accepting.

What extension NSE wants: The NSE wants to extend the market time to 3 more hours
from 9:15 to 3:30 at present to 6:00 pm to 9:00 pm as an extra time period.

Reason for extension in time: In India the market closes at 3:30 pm but in the european
market this time is peak hours of market, thus this extension in time period will help to react
according to any negative news that flows in the market.

Why Sebi rejects proposal:

1) Criticism: Industry sources said allowing extra trading hours could have also invited
criticism as the derivatives market is seen as the den for excessive speculation.
2) More Expense: Several brokers raise concern about the added cost as the
extending hour would require technological and human resource investment and may
not provide cost benefit.

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 Phase 3 Voting data
Candidates Data:
● Total Candidates: 1331
○ Gender Wise Division:
■ Male: 1219
■ Female: 112
○ Criminal Wise Division:
■ Criminals: 244
■ Non Criminals: 1087
○ Education wise Division:
■ Below Graduation: 740
■ Graduation and Above: 591
○ Party Wise Division:
■ BJP: 81
■ BSP: 79
■ INC: 68
■ SUCI(Communist): 26
■ Other: 438
■ Independent: 639

Voters Data:
● Total Voters: 17.24 Crore
○ Gender wise Division:
■ Male: 8.85 Crore
■ Female: 8.39 Crore
○ PwD Voters: 15.66 Lakhs
○ Age wise division:
■ 18-85: 17.09 Crore
■ 85-100: 13.64 Lakh
■ 100+: 39,599

Other Key News

1) Shares of state-owned banks, non-banking finance companies (NBFCs) and
infrastructure firms plunged as much as 10% on Monday following the Reserve Bank
of India's tougher draft guidelines on the financing and accounting of project loans.
2) Tata Electronics Ltd has begun exporting a limited number of semiconductor chips
packaged at a pilot line in their Bengaluru R&D facility with commercial production to
begin in 2027
3) A local court last week discharged industrialist Manoj Kumar Jayaswal in a third
case of money laundering related to the coal block allocation scandal.

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4) The Supreme Court on Monday refused to entertain a petition by traders’
associations, challenging the constitutionality of Section 43B(H) of the Income Tax
Act that requires businesses to settle their dues with micro, small and medium
enterprises (MSMEs) within 45 days to claim tax benefits.
5) India’s apex planning and advisory body for the power sector has eased a key
condition for power equipment supplies for public sector projects.
6) Finance Minister Nirmala Sitharaman Monday said implementation of GST has
helped the poor as it lowered taxes on large items and exempted many essential
goods and services from tax, compared to the pre-GST era.
7) The telecom sector regulator is open to granting more time to telecom operators for
upgrading their IT systems to comply with the new and tighter reporting rules on base
tower stations

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