Digital Financial News

TCS Employee Attrition: IT firm Tata Consultancy Services (TCS) on Friday, April 12 announced its fourth quarter results. The company reported a net profit of ₹12,434 crore in the fourth quarter, registering a growth of 9.1 per cent year on year (YoY) basis.

GmbH's global chief of sales and services Rudolf Klotscher said India is the company's second largest emerging market alongside Turkey and is a «huge focus» country. The Euro 14.8-billion company, which sells Bosch and Siemens brands of refrigerators, dishwashers and kitchen appliances, has reported a double-digit growth in India in several categories such as built-in appliances and dishwashers when the Indian market is growing at 7-8%. Klotscher did not share the overall revenue numbers or company's revenue growth in India “The potential for the future in India is very big. There are 1.4 billion potential customers in India," Klotscher told ET on the sidelines of BSH’s annual global press meet held virtually on Thursday.

«There used to be the provisions like general anti avoidance rules like GAAR, which required the investors like FPIs who are based in Mauritius need to have substance in Mauritius in order to claim the benefit of India-Mauritius tax treaty,» says Punit Shah, Partner, Dhruva Advisors. Let us talk about this treaty and this change that we are making. What is the impact that one should actually expect from this? Is it too much of a worry for investors from Mauritius? Essentially what it says is that India-Mauritius tax treaty was there for several years now. It provides capital gains tax exemption on the equity shares, on derivatives, on debt instruments. The treaty was amended in 2017 where the capital gains exemption on equity shares was taken away and the capital gains exemption on the derivatives and debt instruments did continue.

Two decades ago, India stood on the brink of the mobile phone revolution, and today, it has permeated every corner of the nation, with 90% of the population owning mobile phones. This surge in mobile phone adoption has not only transformed various industries but also catalysed the Digital India campaign launched in 2015, which significantly enhanced broadband connectivity even in remote regions of the country.

Computer Age Management Services (CAMS) shares jumped 6% to Rs 3,220 in Friday's trade on BSE after the Reserve Bank of India (RBI) granted authorisation to the company to operate as an online payment aggregator. CAMS got an in-principle authorisation from RBI back in February 2023, the company said, adding that the certificate of authorisation bearing No 183/2024 was received on April 10, 2024 by the company.

TCS: The IT company is expected to present moderate figures for Q4FY24, driven by the acceleration of significant deal victories, despite the ongoing weakness in crucial international markets. The company will disclose its earnings for the March quarter on Friday, April 12. Industry experts estimate TCS's revenue growth to be in the lower single digits on a quarter-on-quarter (QoQ) basis in constant currency terms.

Free Fire MAX offers gamers drawn into intense battles against adversaries from around the world. The appeal of acquiring exclusive items like diamonds, pets, skins, and outfits is undeniable. Fortunately, with the unveiling of redeem codes, players now have a golden opportunity to obtain these treasures without spending a penny.

Russian police have seized over 3,200 crypto mining rigs in raids on four large “illegal” data centers in Siberia.

Sam Bankman-Fried, facing the prospect of spending much of his adult life behind bars, on Thursday appealed his conviction and 25-year prison sentence for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded. Defense lawyer Marc Mukasey had announced plans for the appeal to the Manhattan-based 2nd U.S. Circuit Court of Appeals during Bankman-Fried's March 28 sentencing hearing. The 32-year-old former billionaire crypto wunderkind was convicted in November on seven counts of fraud and conspiracy in what federal prosecutors have called one of the biggest financial frauds in U.S. history.

Hindustan’s editor in chief Shashi Shekhar, Modi warned that his government’s action against corruption will continue, and will, in fact, intensify in his third term as prime minister. Listing out abrogation of Article 370 to end Jammu and Kashmir’s autonomy, digital payments ecosystem, toilets and housing for the poor, consecration of the Ram temple, and a rapid economic growth as key achievements, Modi said that he is going into the upcoming general election with his vision of Viksit Bharat, or Developed India, by 2047, when the country celebrates 100 years of Independence. He said that his government took several initiatives in the field of education, health, employment, infrastructure, and tourism in the hill state of Uttarakhand, which goes to the polls on 19 April.

Tax pros say there are a few tips parents should keep in mind when filing their tax returns this year

Most news organizations hold its journalists to strict ethical standards to avoid conflicts of interest either real or perceived

New Delhi: India can maintain a consistent 8-9% GDP growth in the coming years, and even reach double-digit annual growth between FY29 and FY31 fuelled by government spending on infrastructure, and private investment, which is expected to increase significantly in the coming years, industry body Confederation of Indian Industry's (CII) President R Dinesh said. Big-ticket land and labour reforms, as well as higher spending on health and education, apart from keeping its focus on inclusive growth in the medium to long term will also propel India as one of the fastest-growing major economies, registering a consistent high growth, Dinesh said in an interview. "We believe that the economy will register over 7.5% growth in FY25.

Ameriprise Financial has welcomed the $2 billion AUM wealth management division of one of the largest US credit unions.

India will be increased by 2.5 times by the year 2047, and right now around 84 per cent of India's energy is produced using coal, said Venu Gopal Mothkoor, Senior Specialist- Energy, NITI Aayog. He further added that achieving CO2 emission targets necessitates a focus on energy efficiency and demand electrification, which could potentially reduce CO2 emissions by 51 per cent by 2047. Speaking at a roundtable discussion organized by FICCI (Federation of Indian Chambers of Commerce and Industry) on 'Doubling the Rate of Energy Efficiency of Indian Industry 2030' he also underscored the pressing need to address this surge in energy requirements.

Bankrupt crypto firms FTX Trading and Voyager Digital Holdings have agreed to settle loan disputes, which would help reimburse creditors.

The move would make Hong Kong the first domicile in the Asia-Pacific region to approve a crypto-backed, exchange-based investment fund. It would also put the island in prime position in the race to become the digital assets hib for the region.

Hong Kong’s Securities and Futures Commission (SFC) granted an expanded license to HashKey Capital. This upgrade enables HashKey to offer its services to retail investors, removing the prior restriction that limited its clientele to professional investors only, the firm said Thursday.

Q4 results preview: IT sector likely to report muted revenue growth with stable margins; all eyes on FY25 guidance Apart from the key numbers, trends on deal winds, attrition and management commentary on near-term demand will be under focus. Brokerage firm Motilal Oswal Financial Services expects TCS' deal pipeline to remain resilient in the UK regions, but the US and Europe may continue to stay weak. As per Motilal's estimates, TCS may report a 2.2 per cent QoQ growth in constant currency (CC) terms while EBIT margin may be stable, as operational improvements should be compensated by low margins in the India business.

State Bank of India (SBI) has refused to disclose under the RTI Act the details of the electoral bonds furnished to the Election Commission (EC), claiming that it is personal information held in a fiduciary capacity, even though the records are in the public domain on the poll panel's website. Holding that the electoral bonds scheme was «unconstitutional and manifestly arbitrary», the Supreme Court directed the SBI on February 15 to furnish the complete details of the bonds purchased since April 12, 2019 to the EC, which would publish the information on its website by March 13. On March 11, the court dismissed the SBI's petition seeking an extension of the deadline and ordered it to disclose the details of the electoral bonds to the EC by the close of business hours on March 12. RTI activist Commodore (retired) Lokesh Batra approached the SBI on March 13 seeking the complete data of the electoral bonds in the digital form, as provided to the EC after the Supreme Court's order.

JJP) chief and former deputy chief minister of Haryana Dushyant Chautala has said that the recent exit of the Nishan Singh, the party's Haryana unit chief, was all part and parcel of the election season «Last night, I received a digital copy of Nishan Singh's resignation. The decision lies with the national president since the letter was addressed to him. I wish him luck for the future. Three months ago, I said this in the state assembly that the election season is approaching, and many people will come and go...» Nishan Singh, the Haryana president of Jannayak Janata Party (JJP) who resigned from the party membership on April 8 had however not disclosed his future plans.