New Delhi, May 17 (ANI): Finance Minister Nirmala Sitharaman on May 17 while unveiling fifth and final tranche of stimulus package, announced additional allocation of Rs 40,000 crore for Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) to boost employment.   "The government will now allocate an additional Rs 40,000 crores to MGNREGS to provide employment boost," said FM Sitharaman. 

Additional Rs 40,000 crore allocated for MGNREGA to boost employment

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

Court also stayed Religare Enterprises annual general body meeting

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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

The condition of 92-year-old Singh is said to be critical

The Jawaharlal Nehru Port Authority (JNPA) on Thursday announced the launch of electric ferry boat services connecting the port with Mumbai from January 2025.
The services, which are aimed at bringing zero-emission environment-friendly ferry boat for the public and backed by Harit Sagar or the 'Green Port' initiative, will shorten the journey from Mumbai to the Jawaharlal Nehru Port (JNP) by 20 minutes, the JNPA said in a statement.
The new boat also prioritises passage comfort with air-conditioned seating arrangements, improving the travel experience, it said.  These 12-metre long, fibre reinforced polymer-material made ferry boats with a maximum speed of 12 knots can comfortably accommodate 20 to 24 passengers at a time, offering a seamless travelling experience with an easy online ticketing system and check-in options.  Tickets will continue to be issued by the JNPA, the port operator said.  The electric ferry boat services will be operated from the Gateway of India to the JNP in 

The new boat also prioritises passage comfort with air-conditioned seating arrangements, improving the travel experience

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

The steel ministry believes that a higher import duty, if implemented, could mitigate the adverse effects of a rise in cheaper imports of finished steel, particularly from China

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Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

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Additional Rs 40,000 crore allocated for MGNREGA to boost employment

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