Aware Financial News

Federal regulators say a Mississippi poultry plant’s failure to follow safety protocols led to the death of a 16-year-old worker who was pulled into a machine last July

National Financial Reporting Authority (NFRA) is planning to directly engage audit committees of large listed companies to sensitise them about accounting standards and their role, a first-of-its kind regulatory outreach to curb corporate frauds, people aware of the watchdog's thinking told ET. The audit regulator is firming up a mechanism to hold regular huddles with the audit committees, said one of the persons, who did not wish to be identified. These committees comprise mainly independent directors and oversee the statutory audit compliances of companies.

Dubai, UAE – January 17, 2024

SoftBank has fully exited PB Fintech, the parent of insurance marketplace PolicyBazaar, according to people aware of the matter. SoftBank had invested close to $200 million in PB Fintech and sold its remaining stake in a mid-December transaction for about Rs 914 crore (or $109 million). In total, SoftBank has made around $650 million in returns on its total investment in the Gurgaon-based insurance aggregator. In December, SoftBank also made an exit from Zomato. It picked up a stake in the company when the food delivery platform acquired Blinkit (formerly Grofers) in 2022 in an all-stock deal.

National Pension Scheme (NPS) has experienced substantial popularity, driven by its appealing tax advantages, especially in response to recent amendments in Indian income tax regulations. Taxpayers commonly highlight several reasons for choosing to invest in the NPS: Yet, a considerable number of individuals lack awareness about the process of initiating an NPS account, whether through online or offline means. To initiate the online opening of an NPS account, you must visit the website of one of the Central Recordkeeping Agencies (CRAs).

CRISIL, has undertaken a comprehensive study entitled ‘Women and Finance’. The survey findings pointed to factors like age, income, marital status, presence of dependants, and home location as major influencers of the financial behaviour of women. About 47% of female earners in Indian metros make independent financial decisions, while 98% actively participate in long-term family decisions, highlighting their increasing financial independence.

medium duration funds are better placed to offer superior returns when the interest rates start falling. Debt mutual funds offer attractive returns in a falling interest rate environment. If that interest you, you can learn more about these funds Most mutual fund investors stick to liquid funds, ultra short term funds, short term funds, banking & PSU funds, corporate funds, etc. to take care of their short-term needs. Most of them might know about gilt funds. Even though they may not invest in them. However, many investors are not aware of medium duration funds. Chances are that most people will keep hearing about medium duration funds this year because most mutual fund advisors are recommending these schemes to their clients these days. As per Sebi mandate, medium duration funds must invest in debt and money market instruments with Macaulay duration of three to four years. As you can see, these schemes are suitable for investors looking to invest for three to four years or more. However, you should check the portfolio duration of the scheme to ensure that the scheme is in line with your investment horizon.

bonds in the coming weeks, capitalising on lower government bond yields that have made borrowing cheaper while tight liquidity and robust credit growth are spurring lenders' demand for funds to meet loan needs. State Bank of India is set to kick off domestic bond issuances for 2024 with the sale of an additional tier-1 (AT-1) bond worth up to ₹5,000 crore. Bidding for the issue would happen on Thursday, people aware of the development said. SBI's AT-1 bond could be priced at around 8.25%, with long-term investors likely to show strong demand, the people said. Meanwhile, Bank of Baroda (BoB) is likely to raise up to ₹5,000 crore soon by issuing 10-year infrastructure bonds, said the people cited above. Canara Bank could also raise up to ₹3,000 crore through the issuance of AT-1 bonds later this month, while Bank of Maharashtra and Central Bank of India are considering the option of raising funds through infrastructure bonds. «We have seen a correction in bond yields which happened since December.

I have long been a proponent of ‘techno-legal’ governance—a hybrid system of laws and code where laws and regulations are embedded directly into the technology system. It has become increasingly possible for us to encode legal requirements directly into the ecosystems upon which we depend. Given that neither the laissez-faire approach to governance that the US pioneered nor the regulation-heavy approach taken by Europe has proven successful at regulating digital spaces, I am hopeful that this hybrid approach will offer us new ways in which we can extract the benefits of technology while safeguarding ourselves against its harms.

Fujitsu, the company whose faulty computer accounting system resulted in the wrongful conviction of hundreds of Post Office branch managers across the U.K., has apologized to the victims for its role in the country’s biggest ever miscarriage of justice...

headphones you can buy with huge discounts. From immersive sound quality to ergonomic designs, we've scrutinized each headphone to ensure it meets the diverse needs of Indian consumers. This buying guide includes a multitude of wireless headphones offering top-notch features like active noise cancellation, long-lasting battery life, and seamless connectivity.

Extreme cold has swept across Canada, bringing heavy snowfall and strong winds and breaking temperature records in Alberta, British Columbia, Saskatchewan and the Northwest Territories.Those temperatures, the Red Cross warns, can bring frostbite and hypothermia — even death.“As Canadians, no matter where we are, whether it’s Winnipeg or up north or Victoria, we all experience some level of winter,” said Jason Small, Canadian Red Cross spokesperson.“And we need to be prepared for that.”The advice comes as Alberta has issued multiple alerts to the public over the last three days to immediately conserve electricity as its provincial power grid strains to keep up with demands amid the frigid temperatures.Parts of B.C. and southern Ontario are also facing deep freezes.Searches for terms like “extreme cold” have spiked on Google among Canadian users and are projected to keep climbing.

interim budget for FY25, from the budget estimate for this year, as it aims to balance the need for sustained growth with fiscal consolidation imperatives, people aware of deliberations said. With the economy continuing to grow at a robust pace, the government is of the view that fiscal consolidation needs greater attention, they said. According to the first advance estimate, India's gross domestic product (GDP) is forecast to grow 7.3% in FY24, bettering the preceding fiscal year's 7.2%. FY24's budget had raised spending by 14.1% over the FY23 budget estimate — to ₹45 lakh crore. FY24 expenditure growth was up 7.5% over the provisional number for the last fiscal year. The Centre will continue quality spending next fiscal by raising capital expenditure, albeit at a slower pace than in recent years, a government official told ET. Muted hike in capex This, while lifting revenue spending at a moderate rate, the official said.

Udaan’s valuation has fallen by nearly half to around $1.8 billion in a down round, marking one of the most precipitous drops for a startup that has raised over $1 billion, people aware of the matter said. Bengaluru-based Udaan was last valued at $3.2 billion following a funding round in January 2021.

State-run banks will revamp their processes to create a risk-based profitability measurement framework to include more detailed and frequent scrutiny of securities pledged by high-value borrowers. They will also widen the coverage of early warning signals to help identify and reach out to distressed borrowers.

The Centre is planning to build a common information technology (IT) backbone linking various stakeholders of the corporate turnaround ecosystem to improve the efficacy of debt resolution, two people aware of the matter said. The entities to be connected include the National Company Law Tribunal (NCLT), the Insolvency and Bankruptcy Board of India (IBBI), credit information providers, lenders, distressed businesses ending up in tribunals, and insolvency professionals. National E-Governance Services Ltd (NeSL), India’s first agency registered under IBBI to provide legal evidence on debt to creditors and tribunals, will also be part of this IT network.

NEW DELHI : New Delhi and Tehran discussed the spate of Houthi attacks on shipping vessels in the Red Sea during external affairs minister S. Jaishankar’s visit to Iran, said India’s foreign ministry. “As you are all aware, recently there has also been a perceptible increase in threats to the safety of maritime commercial traffic in this important part of the Indian Ocean.

Armed Forces Veterans Day was celebrated by Eastern Command Headquarters on January 15. This day is celebrated every year in a bid to offer “respect and recognition of the services” and sacrifices rendered by the Veterans, Eastern Command said in a statement today. “To mark this occasion in a befitting manner, a wreath laying ceremony was organized where Lt Gen Gurmit Singh (Retd.), Uttarakhand Governor Lt Gen Ram Chander Tiwari, General Officer Commanding-in-Chief of Eastern Command and Veterans from all three services paid their homage to the brave hearts in a solemn ceremony at Vijay Smarak in Fort William,” the Eastern Command said. “The services by virtue of being a close-knit family, take pride in caring for its Veterans Community.

fixed deposits and physical assets like gold and real estate. Today, four crore unique investors are invested in mutual funds, in a country of 140 crore people, highlighting a large scope for further adoption. Increased awareness of mutual funds is also visible in monthly SIP flows which have doubled from pre-pandemic levels to more than ₹17,000 crore per month (as of Dec 9, 2023).

Hamas aired video on Sunday showing three Israeli hostages it is holding in Gaza urging their government to stop the offensive against the Palestinian Islamist group and bring about their release, as both sides marked the 100th day of the war. The 37-second video of Noa Argamani, 26, Yossi Sharabi, 53, and Itay Svirsky, 38, ended with the chyron: «Tomorrow we will inform you of their fate.»

Creditors to bankrupt Go First Airlines have unanimously voted to allow fresh proposals from prospective resolution applicants (RAs) to take over the defunct airline, more than a month after receiving no submissions in a process that ended in November. Five entities have expressed interest in the airline. Three — Sharjah-based aviation company Sky One, Africa-focussed Safrik Investments and budget airline SpiceJet — had submitted expressions of interest (EoIs) last month. Two more entities — US-based NS Aviation and Plan IT, which is a consortium of individuals — also subsequently expressed interest in submitting proposals, said two people familiar with the process. «All these applicants will now have to submit a bank guarantee of Rs 5 crore and give a formal EoI to participate in the process,» said one of the persons.