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Gross NPAs of public sector banks have declined by over Rs 89,000 cr till March: Govt

Gross NPAs of public sector banks have declined by over Rs 89,000 cr till March: Govt

Finance
The gross non-performing assets (NPAs) of public sector banks (PSBs) have declined by Rs 89,189 crore from a peak of more than Rs 8.95 lakh crore in March 2018 to over Rs 8.06 lakh crore in March this year, the government told the Rajya Sabha. In a written reply to Congress member B K Hariprasad, Finance Minister Nirmala Sitharaman said, "As per Reserve Bank of India (RBI) data on global operations (provisional data for the financial year ending March 2019), gross NPAs of PSBs have declined by Rs 89,189 crore from the peak of Rs 8,95,601 crore in March 2018 to Rs 8,06,412 crore in March 2019 (provisional data)." According to the data, aggregate gross advances of PSBs increased from over Rs 18.19 lakh crore as on March 31, 2008 to more than Rs 52.15 lakh crore as on March 31, 2014. "As per ...
IL&FS: NCLT allows govt to prosecute auditors Deloitte, BSR; C Sivasankaran and 2 independent directors

IL&FS: NCLT allows govt to prosecute auditors Deloitte, BSR; C Sivasankaran and 2 independent directors

Finance
MUMBAI: The NCLT has given a go-ahead to government to prosecute Deloitte and BSR Associates for their failure to detect and report the scams that took place across the now bankrupt IL&FS group and 21 other entities, when they were the auditors of IL&FS Financial Services. The NCLT in an order posted on its website on Thursday said the corporate affairs ministry can go ahead with prosecution based on the findings of the probe conducted by the Serious Fraud Investigation Office (SFIO). But the posting does not mention its views on the government demand to ban these two auditors for five years from business, though. The tribunal also allowed to the government plea to implead Udayan Sen, a partners of Deloitte, and BSR Associates partners Kalpesh Mehta and Sampath Ganesh. Both these a...
Hong Kong protesters clash with police and try to storm govt building

Hong Kong protesters clash with police and try to storm govt building

World
Police in Hong Kong have used pepper spray to disperse protesters embroiled in violence outside the territory's parliament building.They were part of an earlier demonstration on Sunday calling for authorities to block a controversial extradition bill that is feared could be used by China to make critics "disappear". The bill, if passed into law, will allow suspected criminals in the territory to be sent to the mainland to face trial. Image: Several hundred protesters clashed with police outside Hong Kong's parliament building Image: Protests against the extradition bill turned violent late on Sunday evening Hundreds of thousands of people took part in the protest, which was mos...

Protest in Hungary over govt plan to seize research network

Technology
A few thousand mostly academics and students held a protest march against a plan by Prime Minister Viktor Orban's government to seize control of the research network of the Hungarian Academy of Sciences. Critics say the government plan threatens academic freedom and autonomous scientific research in Hungary, a "de facto nationalization of the academy's property" which would put scientific research under close government scrutiny. The government, which held several rounds of unsuccessful talks with the academy, says its wants to improve innovation in scientific research and have publicly funded research projects that create "direct economic profit." Viktor Oliver Lorincz, a junior research fellow attending Sunday's march, said "we don't want to belong to the government because we are afrai...