Current Affairs Today 7 September 2017 Banking Related

Banking related current affairs of 7 September 2017 with latest updates of today. Read and update yourself for future Competitive Exams.

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SBI Artificial Intelligence, launches Chatbot to Assist Customers

SBI country’s largest lender bank has introduced artificial intelligence based chatbot to take care of customers queries by providing information on range of services and products provided by the bank.

SIA (SBI Intelligent Assistant) is the name given to the chatbot and currently is under beta testing. It is an effort by SBI to make the banking operations more smooth by identifying key work processes to be transferred to robots.Once testing is complete it will be able to answer queries related to following banking business areas like:

  • Home loans
  • Education loans
  • Car loans
  • Personal loans
  • Recurring deposit
  • Term deposit
  • And many more

According to an SBI blog post, the bank is already using digital technology in its workings and in digital platforms like SBI inTouch and are currently utilizing bots and artificial intelligence such as IBM Watson to do a number of activities for providing better experience to its customers. Bank claimed that 80% of the total work done by the bank is done through machines.

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UIDAI extends deadline for banks to set up enrolment centres

UIDAI has given one more month to public and private sector banks to establish Aadhaar enrolment and updation center within their premises. Earlier the banks had requested to extend the time limits to establish the Aadhaar enrolment centers at their branches. Now the banks have one month time to the task till September 30, 2017.

As per the instructions of UIDAI, public and private banks needs to establish separate Aadhaar updation and enrolment centers in at least 10% of their branches. The extension to deadline have also came up with a condition that if any bank doesn’t establish such centers till September 30,2017 then a financial disincentive of Rs 20,000 per uncovered branch shall be levied on the bank.

A part from that for any non-compliance to the directions, ‘banks shall be liable for action under Section 42 of the Aadhaar Act, 2016.’

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