New Delhi, Aug 30 (ANI): Finance Minister Nirmala Sitharaman announced that the gross non-performing assets (NPAs) in the baning sector have come down from Rs 8.65 lakh crore to 7.90 lakh crore. Nirmala Sitharaman made the announcement at a press conference. FM said that the non-performing assets, which were valued at Rs 8.65 lakh crore in December 2018 have come down to Rs 7.90 lakh crore. She also said that the loan recovery has been at a record high.

Gross NPAs down to Rs 7.90 lakh crore from Rs 8.65 lakh crore: FM Sitharaman

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The Competition Commission of India (CCI) has approved Murugappa family affiliate Mavco Investments and Avenue Capital Group's proposal to acquire Germany-based MHM Holding.
MHM Holding is the parent company of Hubergroup, a global player in the printing ink and chemicals industry. It has global footprint in growth markets such as Asia and India.
The New York-headquartered Avenue Capital Group through its arm, Avenue India Emergence Pte, while Mavco Investments, a private investment vehicle belonging to select members of the Murugappa family, is acquiring a stake in MHM Holding.
"Pursuant to the share purchase agreement (SPA) executed between MHM Beteiligungsgesellschaft mbH and MHM Vermogensverwaltungs GmbH (the sellers), Avenue and Mavco had agreed to be severally responsible to acquire 100 per cent of the shares in MHM Holding GmbH (target) from the sellers," a notice submitted with the CCI said.
Subsequently, Avenue and Mavco would incorporate a joint venture company (to be ...

MHM Holding is the parent company of Hubergroup, a global player in the printing ink and chemicals industry. It has global footprint in growth markets such as Asia and India

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The Reserve Bank on Thursday announced the setting up of an eight-member committee to develop a framework for responsible and ethical enablement of artificial intelligence (FREE-AI) in the financial sector.
Headed by IIT Bombay professor Pushpak Bhattacharyya (Department of Computer Science and Engineering), the panel will assess the current level of adoption of AI in financial services, globally as well as in India.
It will also review regulatory and supervisory approaches on AI with focus on the financial sector globally.
The panel will also identify potential risks associated with AI, if any, and recommend an evaluation, mitigation and monitoring framework and consequent compliance requirements for financial institutions, including banks, NBFCs, FinTechs, PSOs, etc.
The committee will recommend a framework including governance aspects for responsible, ethical adoption of AI models / applications in the Indian financial sector, the RBI said.
The other members of the panel are: .

The committee will recommend a framework including governance aspects for responsible, ethical adoption of AI models / applications in the Indian financial sector

Singh's death was announced by the All India Institute of Medical Sciences, Delhi, where he was admitted in the Emergency ward around 8.30 PM in a critical condition

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The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they opt for a 2020 tax system that strips exemptions like housing rentals

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Gross NPAs down to Rs 7.90 lakh crore from Rs 8.65 lakh crore: FM Sitharaman

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