NSE Current Affairs - 2020

AI powered National Stock Exchange Knowledge Hub inaugurated in New Delhi

On January 6, 2020, the National Stock Exchange (NSE) knowledge Hub was inaugurated. The hub will assist insurance, banking and financial services. The hub has adopted the latest technology of Artificial Intelligence.

Highlights

The technologies such as Artificial Intelligence and Machine Learning are two major keys for India to become 1 trillion-dollar economy by 2035. The hub is one such step of the technologies to boost the economy of the country. The learning modules in the hub will help in understanding the stock exchange and its functioning better. It will help in creating an adequate work force.

Significance

The AI technology hub will also ensure affordable skill upgradation. The hub will make learning materials easily accessible. With the help of the hub, the NSE shall now enhance its skills. With India being the second largest fintech hub in the world, the hub will help NSE further aid India’s progress.

India’s position in AI

According to RESEARCH AGENCY Itihaasa, India ranks third in Artificial Intelligence. The rankings were provided by the agency based on the research publications in the field. China stands first with 37,918 researches on AI followed by US with 32,421 researches. India holds 12,135 research documents on AI.

Girish Chandra Chaturvedi appointed new of Chairman National Stock Exchange

The National Stock Exchange(NSE) has appointed Girish Chandra Chaturvedi as its new chairman. His appointment comes following the approval of markets regulator Securities and Exchange Board of India (SEBI). The NSE chairman was lying vacant since January 2019 when then incumbent Chairman of NSE Ashok Chawla resigned in the middle of charges of corruption in Aircel-Maxis case. The Aircel-Maxis is a case of alleged corruption in grant of Foreign Investment and Promotion Board (FIPB) clearance in Aircel-Maxis deal.

About Girish Chandra Chaturvedi

He is a former bureaucrat who retired from Indian Administrative Services (IAS) in January 2013 as Secretary, Ministry of Petroleum and Natural Gas. He is currently on board of ICICI Bank and member of government appointed board of Infrastructure Leasing and Financial Services Ltd (IL&FS). In past, he has also served as Director (Government Nominee) on Boards of Canara Bank, IDBI Bank Ltd, Bank of Baroda, IDFC Ltd, GIC Re of India, United India Insurance Co. Ltd, Agriculture Insurance Co. of India, New India Assurance Co. Ltd, National Insurance Academy and Institute of Banking Personnel Selection (IBPS).