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Showing posts from February, 2023

Artificial Intelligence and Indian Banking sector

What is Artificial Intelligence (AI) According to WIXEncyclopedia “ AI is a branch of computer science that develops machine systems capable of demonstrating behaviours linked to human intelligence. AI programs use data collected from different interactions to improve the way they mimic humans in order to perform tasks such as learning, planning, knowledge representation, perception and problem-solving ”   Thus, AI is the science of making a computer or a software think intelligently just like a human brain, towards learning how to solve a problem. In a way it helps personalise interaction between a human being and a machine. AI tools are based on three main cognitive skills of learning, replicating and reasoning. AI makes a machine, generally a computer, capable of thinking and responding like a human being. The tasks involving a set of algorithms become automatic through intelligent programming based on learning through experience. Artificial Intelligence (AI) has been stea...

INTERNATIONALIZATION OF INDIAN RUPEE

In an earlier blogpost (06/04/2022), We had discussed dominance of US Dollar. It’s time to explore internationalization of Indian Rupee ie. INR. On 11 th July, 2022  in a landmark move, RBI relaxed guidelines for international trade in INR. RBI said “ to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR. ” In this context let’s examine internationalization of INR - past history, advantages / disadvantages and what lies ahead.   What is Internationalization of Rupee ? Internationalization of INR encompasses increased and freer use of the currency in cross border trade – both for imports and exports. Right now, most trade from and to India is denominated in US Dollars and an attempt is now being made to facilitate international trade in INR or making INR an i...