PM launches three COVID testing labs; AI can add 2.5% to GDP; Gold hallmarking deadline prolonged

Catch high tales from the world of enterprise and economic system with BusinessToday.In’s Biz EOD report

Prime Minister Narendra Modi launched three excessive throughput COVID-19 testing amenities in Noida, Mumbai and Kolkata. A report launched by NASSCOM says {that a} unit improve in synthetic intelligence (AI) depth can add as much as $67.25 billion or 2.5 per cent to the Indian Gross Domestic Product (GDP). The deadline for necessary hallmarking of gold jewelry has been prolonged for greater than 4 months, until July 1, 2021. Read for extra high tales from the world of enterprise and economic system:

1) PM Modi launches three COVID testing labs in Noida, Mumbai, Kolkata

More than 5 lakh checks are being performed within the nation each day, efforts are underway to extend this capability to 10 lakh within the coming weeks, says PM Modi.

2) AI can add 2.5% to GDP with policy push, investment: NASSCOM

With the non-public sector betting large on AI in India, AI startups have seen a rise in funds and in addition the rounds of funding. As per estimates, Indian AI marketplace for start-ups attracted $762.5 million in 2019.

3) Ex-Gov Urjit Patel explains his early exit from RBI, differences with govt in new book

In his guide, Patel can also be vital of Mudra loans the place authorities has set targets up to now for banks to offer collateral-free loans as much as Rs 10 lakh. Currently, the NPAs within the Mudra loans are one of many highest, even reaching 20 per cent-plus stage for some PSBs.

4) 4G auction: Private telcos may not be allowed to buy equipment from Chinese vendors

The report additionally stated that comparable restrictions could also be imposed on tools associated to the 5G spectrum, every time an public sale is deliberate.

5) Gold hallmarking deadline extended till July 1 next year

From June 1 subsequent yr, jewellers will likely be allowed to promote solely 14, 18 and 22 carats of gold jewelry, the Consumer Affairs Minister Ram Vilas Paswan said.

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