Bhubaneswar (Odisha), May 17 (ANI): While speaking to media on May 17, the Director of IMD Bhubaneswar, HR Biswas spoke on Cyclone Amphan. He said, "Cyclone Amphan is likely to make landfall in between Sagar Islands (West Bengal) and Hatiya Islands (Bangladesh) during the afternoon or evening of May 20 as a very severe cyclonic storm."

Amphan likely to make landfall on May 20 as very severe storm: IMD Bhubaneswar

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

A PIL filed in the Supreme Court on Thursday sought to scrap the TDS system calling it "arbitrary and irrational" and violative of various fundamental rights, including equality.
The PIL challenged the tax deducted at source or TDS framework under the Income Tax Act, which mandates the deduction of tax at the time of payment by the payer and its deposit with the income tax department. The deducted amount is adjusted against the payee's tax liability.
The plea filed by lawyer Ashwini Upadhyay through advocate Ashwani Dubey, made the Centre, ministry of law and justice, law commission, and NITI Aayog as parties.
It sought a direction to "declare the TDS system manifestly arbitrary, irrational and against Articles 14 (right to equality), 19 (right to practice profession) and 21 (right to life and personal liberty) of the Constitution, hence void and inoperative".
The plea further sought directions to the NITI Ayog to consider contentions raised in the plea and suggest necessary change

The PIL challenged the tax deducted at source or TDS framework under the Income Tax Act, which mandates the deduction of tax at the time of payment by the payer

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Amphan likely to make landfall on May 20 as very severe storm: IMD Bhubaneswar

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