Today's Sector News - 01.11.2019: 09.00 Am
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* AVIATION: The expression of interest document for divestment of Air India is likely to be finalised by the end of November.
* BANKING: Public sector banks have extended total support of 2.56 trln rupees to non-banking finance companies by way of credit and pool buyout since September 2018.
- Outstanding bank loans to non-banking finance companies in September reached the highest level
since the systemically important Infrastructure Leasing and Financial Services group companies started defaulting on repayment in late August 2018.
* INSURANCE: The government has approved the appointment of Mukesh Kumar Gupta and Raj Kumar as managing director at Life Insurance Corp of India.
* REGULATORY: The Securities and Exchange Board of India has mandated banks to disclose the
divergence in bad loans and provisioning, between that assessed by the bank and the Reserve Bank of India, within 24 hours of getting the central bank's audit report.
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