Cover Financial News
28.08 / 06:25
Racing
Uncharted
show
performer
country
cover
Time
"10 days left, race against time now..." ISRO scientists monitor experiments on lunar surface
Pragyan, moving on the surface of the moon, is in a «race against time» and that the ISRO scientists are working to cover a maximum distance of the uncharted South pole through the six-wheeled rover. The scientist said that «real work» starts only after a soft landing on the moon's surface. India took a giant leap on August 23, as the Chandrayaan-3 lander module successfully landed on the moon’s South pole, making it the first country to have achieved the historic feat. The country became the fourth– after the US, China, and Russia – to have successfully landed on the moon’s surface. «On August 23, we achieved a soft landing on the lunar surface and Prime Minister Narendra Modi also interacted with scientists of ISRO to congratulate them. But, the real work started after rover Pragyan rolled out of the lander Vikram,» Desai said.
28.08 / 05:25
Provident
Digital
Man
country
cover
inclusion
Financial
Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM Sitharaman
Nirmala Sitharaman on Monday said Jan Dhan Yojana-led interventions and digital transformation have revolutionised financial inclusion in the country, as more than 50 crore people have been brought into the formal banking system with cumulative deposits surpassing Rs 2 lakh crore. On the ninth anniversary of the Pradhan Mantri Jan Dhan Yojana (PMJDY), which is one of the biggest financial inclusion initiatives in the world, Sitharaman in her message said 55.5 per cent bank accounts have been opened by women, and 67 per cent have been opened in rural/semi-urban areas. Under the scheme, the number of bank accounts grew 3.4-fold from 14.72 crore in March 2015, to 50.09 crore as on August 16, 2023. Total deposits too have swelled from Rs 15,670 crore as of March 2015, to over Rs 2.03 lakh crore as of August 2023. The average deposits in Jan Dhan accounts have increased 3.8 times from Rs 1,065 as of March 2015, to Rs 4,063 in August 2023.
28.08 / 04:57
UPS
Lowe's
BAY
SVB
cover
What really went wrong at Silicon Valley Bank
SVB). On March 10th the bank, which had $212bn of assets, failed with spectacular speed, making it the biggest lender to collapse since the global financial crisis of 2007-09. Most of SVB’s depositors were Bay Area tech startups with accounts holding well in excess of the $250,000 that is insured by the federal government.
28.08 / 04:57
28.08 / 02:53
MET
FIVE
show
country
cover
Biden's commerce secretary is the latest Cabinet member to visit China in a bid for improved ties
Commerce Secretary Gina Raimondo is the latest member of President Joe Biden’s Cabinet to visit China as his administration tries to mend the deteriorating ties between the world’s two largest economies
28.08 / 02:53
28.08 / 02:53
UPS
Cooper
Citizens
Waters
country
cover
Fukushima residents are cautious after the wrecked nuclear plant began releasing treated wastewater
Fish auction prices at a port south of the Fukushima Daiichi nuclear power plant are mixed amid uncertainty about how consumers may respond a day after treated and diluted radioactive wastewater began to be released into the sea
28.08 / 02:53
UPS
Google
Strategy
Hawaiian
show
cover
Bare electrical wire and leaning poles on Maui were possible cause of deadly fires
In the first moments of the Maui fires, when high winds brought down power poles, slapping electrified wires to the dry grass below, there was a reason the flames erupted all at once in long, neat rows — those wires were bare, uninsulated metal that c...
28.08 / 01:07
UPS
Provident
CEO
Remark
cover
tenor
How new RBI rules on floating rate loans benefit home loan borrowers
In the past 12 months, big-ticket floating rate loan borrowers have had a rough ride. The continuous uptick in interest rates has triggered a sharp reset of rates in their floating rate loans. Taking cognisance of the numerous complaints received on the changes imposed by lenders without proper communication or consent of borrowers, the RBI has introduced a new framework for resetting floating rate loans.
27.08 / 23:13
Provident
Digital
Bitcoin
cover
US Treasury sets out crypto tax reporting proposal
The rules are designed to address the tax evasion risks posed by digital assets and could raise nearly $28 billion in ten years, says the Joint Committee on Taxation.Under the proposal, crypto brokers - centralised and decentralised exchanges, payment processors and some hosted wallets - would have to provide a new tax reporting form, called a Form 1099-DA, to help taxpayers determine if they owe taxes. The rules would cover crypto such as Bitcoin and Ether, as well as NFTs.The form, covering information such as customers’ capital gains and losses, would be sent to both customers and the IRS.
27.08 / 23:01
27.08 / 22:39
COST
Provident
CEO
Software
cover
Banks seek a carve-out from new AI regulation
The banks have urged the Albanese government to assess how every existing law might capture the use of artificial intelligence before drafting new ones, to protect the financial industry’s AI rollout from unintended regulatory delays.
27.08 / 22:13
27.08 / 18:35
Citi
Target
Digital
AIG
track
cover
end
Quadria Capital to complete returning Fund 1 by year end
Quadria Capital, a healthcare-focused investor, has started distributing the gains from its 10-year-old first fund, along with the principal, to its limited partners or investors. The process is anticipated to conclude by 2023-end. “We are in the process of returning the fund completely.
27.08 / 18:35
show
performer
cover
NFRA to list out frequent lapses to alert auditors, managements
NEW DELHI : The National Financial Reporting Authority (NFRA) will soon issue a circular outlining the frequently observed deviations in the preparation of financial statements and statutory audits to give guidance to managements and auditors on practices they should strictly avoid. These deviations were noticed in specific cases during investigations and audit quality reviews done by NFRA in the last few years.
27.08 / 18:05
Provident
Progressive
Manufacturing
Remark
Celebrity
country
cover
Why GST restructuring is the need of the hour
GST regime, having recently celebrated its sixth anniversary, stands as a remarkable achievement in the Indian tax landscape. Over this time, it has made substantial contributions to GoI’s financial coffers. To provide a snapshot, the gross collection for FY2023 reached an impressive Rs 18.10 lakh crore, with an average monthly collection of Rs 1.51 lakh crore for the year.
27.08 / 16:51
cover
rock
7 dead, several others injured in major explosion at firecracker factory in West Bengal
major explosion in an alleged illegal fire cracker factory of West Bengal in North 24 Parganas district's Duttapukur on Sunday. The intensity of the explosion was so high that the area witnessed major destruction and two floors of the residence was completed reduced to rubbles.
27.08 / 16:05
UPS
Provident
FIVE
cover
Govt calls meeting of states, bank officials on 'PM Vishwakarma' on Monday: Report
Narendra Modi made the announcement about the scheme in his Independence Day address on August 15, 2023. The Union Cabinet on August 16, approved the central sector scheme “PM Vishwakarma" with a financial outlay of ₹13,000 crore for a period of five years (2023-24 to 2027-28).
27.08 / 15:59
UPS
Waters
Action
Pool
show
cover
Inside
At Japanese nuclear plant, controversial treated water release just the beginning of decommissioning
Fukushima Daiichi nuclear plant's central control room in northeastern Japan, the treated water transfer switch is on. A graph on a computer monitor nearby shows a steady decrease of water levels as treated radioactive wastewater is diluted and released into the Pacific Ocean. In the coastal area of the plant, two seawater pumps are in action, gushing torrents of seawater through sky blue pipes into the big header where the treated water, which comes down through a much thinner black pipe from the hilltop tanks, gets diluted by hundreds of times before the release. The sound of the treated and diluted radioactive water flowing into an underground secondary pool was heard from beneath the ground during Sunday's first plant tour for media, including The Associated Press, since the controversial release began. «The best way to eliminate the contaminated water is to remove the melted fuel debris,» said Tokyo Electric Power Company Holdings spokesperson Kenichi Takahara, who escorted Sunday's media tour for the foreign press. But Takahara said the scarcity of information from inside the reactors makes planning and development of the necessary robotic technology and a facility for the melted fuel removal extremely difficult. «Removal of the melted fuel debris is not like we can just take it out and be finished,» he said. The projected decades-long release of treated water has been strongly opposed by fishing groups and criticized by neighboring countries.
27.08 / 15:59
COST
UPS
Pool
Parke
track
cover
Costs
Have you put on extra kilos? Know how much it costs to cut the flab
It is easy to gain weight but difficult to shed the extra kilos, say fitness experts. Weight gain brings with it a host of lifestyle-related diseases, including diabetes and hypertension. Obesity is also associated with arthritis and even heart diseases. Losing weight the right way, say experts, is the only solution to such problems. And that means regular exercise in some form or the other—walking, running, yoga, swimming, cycling, aerobics and workouts at the gym help cut the flab and keep you fit. And, there is dieting as well.
27.08 / 13:39
Allegiant
shootings
cover
plane
Russian authorities confirm Wagner chief Yevgeny Prigozhin's death in plane crash
Yevgeny Prigozhin comes exactly two months after he led a short-lived mutiny against Moscow. The Western leaders spoke about Russia's hand in the plane crash, but the accusations were rejected by the Russian authorities who called it an “absolute lie." "There is now a great deal of speculation surrounding this plane crash and the tragic deaths of the plane's passengers, including Yevgeny Prigozhin.
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