Equality Financial News

Recently released Consumer Price Index-Combined (CPI-C) data shows that food inflation, driven by pulses, vegetables and cereals, is outpacing general CPI inflation. While the latter is 3.54%, food inflation is significantly higher at 5.06%. The relationship between retail and food inflation has been a matter of considerable debate, especially in light of the 2024 Economic Survey’s suggestion that food inflation should no longer be included in the inflation target, since it is largely supply driven.

Unified Pension Scheme (UPS) combines the best aspects of both the Old Pension Scheme (OPS) and the National Pension System (NPS). It brings together OPS features like assured pensions, inflation-linked adjustments, family pensions, and a guaranteed minimum pension. Meanwhile, it retains the NPS's provision for employee contributions towards their pension fund.

income tax return for FY 2023-24 (AY 2024-25) for individuals not liable for tax audit, expired on July 31, 2024. If you have missed filing your ITR by July 31, 2024, you can file a belated ITR by paying a penalty. According to the Income tax department's press release dated August 2, 2024, more than 7.28 crore (7,28,80,318) ITRs for FY 2023-24 (AY 2024-25) were filed till July 31, 2024. However, according to the latest data on the income tax e-filing portal, about 7.4 crore (7,42,75,307) income tax returns (ITRs) were filed as of August 22, 2024, at 3.06 pm. Source: Income tax e-filing ITR portal as on August 22, 2024, 3.06 pm

Bangladesh will examine data anomalies that allegedly inflated economic performance during former Prime Minister Sheikh Hasina’s regime, in an effort to stamp out corruption that plagued the South Asian nation for most of the past 15 years. The country’s interim government has asked Debapriya Bhattacharya, an economist and public policy analyst, to produce a “white paper” documenting mismanagement under Hasina’s rule. Bhattacharya has 90 days to write the paper and plans to submit an initial report to Nobel-winning banker Muhammad Yunus, who’s leading Bangladesh’s temporary administration. “We have a serious problem with data,” Bhattacharya, 68, said in an interview in Dhaka on Saturday. “Data were manufactured. Data were suppressed. I call that data anarchy.”

Overcooked 2, a 2018 title by small British developers Team17 and Ghost Town Games. Despite having won ‘The Game Award’ and nominated for BAFTAs, this title remained little-known among gamers for the longest time. It has now emerged as a gem of a family game that lets multiple players, including those with no interest in cooking, enjoy time together.

Zelenskyy on Friday said India supported his country's national sovereignty and territorial integrity, underlining that New Delhi's support was «critical» because everyone in the world must equally respect the UN Charter. «Today, history was made. The Prime Minister of India @narendramodi made his first visit to Ukraine since our country's independence, on the eve of our Independence Day,» Zelenskyy posted on X after holding talks with Modi. Modi arrived in Kyiv this morning on a special train on the first-ever visit to Ukraine by an Indian prime minister after it became independent in 1991. Zelenskyy noted that four documents between Ukraine and India, covering the medical field, agricultural cooperation, humanitarian relations, and culture, were signed.

Editor’s note (June 20th 2024): The Supreme Court has ruled in Moore v United States, upholding the tax at issue (the “mandatory repatriation tax"). The court declined to weigh in on the constitutionality of a tax on unrealised gains. The rich are different from other people. They have more money and, in most places, they pay much less tax.

By Ted Rechtshaffen and Michelle Hung

₹3,119 per gram then, according to the India Bullion and Jewellers Association Ltd. That gold was redeemed this year at ₹7,190 per gram. In effect, the government will pay 13.5-14% compounded on the SGBs redeemed this year, given around 11% CAGR of gold prices plus the interest.

record date for the purpose of its 1:5 stock split, following which the stock closed 4.6% higher on BSE at Rs 555. “The Company has fixed Wednesday, 11th September, 2024 as ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division of every one fully paid-up equity share having face value of Rs. 10/- (Rupees Ten only) each in the share capital of the Company into five (5) fully paid up equity shares having face value of Rs. 2/- (Rupees Two only) each,” said the company in a filing to the exchanges.

auto-rickshaw driver has captured the attention of social media after a photograph of a notice inside his vehicle gained significant traction online. The sign displayed prominently above the windshield, boldly announced, «We accept cryptocurrency.» An X user named Garima shared the picture on the microblogging site and remarked, “Bro is transforming faster than most literate Indians.” The post sparked amusement among many users on X.

Japan sent out its first-ever megaquake warning following an earthquake of 7.1 magnitude on the Richter scale that occurred on the southern island of Kyushu. It wasn't the main concern, even though the shaking didn't produce much ramifications but the largest tsunami wave it produced would have reached one’s knee. Instead, seismologists were worried that the earthquake would cause tension that might set off a bomb that was ticking away offshore in Japan, near the Nankai trough, which is probably the most dangerous fault in the nation. The Japanese government estimates that the subduction zone has the capacity to produce tsunami waves up to 100 feet tall and kill almost a third of a million people. As quoted in a report by NBC News, Harold Tobin, Washington state’s seismologist, stated, «We don't have such a protocol» in the United States. However, the Cascadia subduction zone has equally dangerous faults. The Cascadia fault's 9.0 magnitude earthquake and the fatal tsunami, according to the Federal Emergency Management Agency, would kill 14,000 people in Oregon and Washington. Tobin has been considering this scenario for years: What justifies raising the alarm if he discovers evidence, even if it's slight, that a catastrophic earthquake is more likely to occur? Part of Tobin's dilemma stems from this peculiar period in his field: In the world's most seismically hazardous areas, researchers believe they are narrowing in on the causes or precursors of earthquakes, but the science is far from conclusive.

Tata Nifty200 Alpha 30 Index Fund are currently open for subscription, with another eight NFOs set to open later this week. These 10 funds span eight different categories: two index funds, sectoral funds, dividend yield, large & mid-cap, multi-asset allocation, multicap, ultra-short duration, and an ETF. Tata Nifty200 Alpha 30 Index Fund The Tata Nifty200 Alpha 30 Index Fund is an open-ended scheme that tracks the Nifty200 Alpha 30 Index (TRI). The NFO for this scheme is open for subscription and will close on September 2.

Murugappa Group equally among three family groups that’s been over two years in the making has got stuck, said people with knowledge of the matter. The Murugappa Chettiar family had been negotiating an amicable split of the diversified business empire with over $9 billion in revenue in FY23 after five generations of working together over more than a century, they said. The much-celebrated turnaround of CG Power within four years of its takeover by group company Tube Investments of India (TII) has become a key bone of contention among different family groups that make up the promoter group. Shares of four Murugappa group companies, including Wendt India and Shanti Gears, yielded over a 50% return in CY23. But it’s the meteoric 15-fold jump in the share price of CG Power after the TII buyout that has grabbed the spotlight. Another standout has been the performance of Cholamandalam Investment and Finance Co. Ltd, the group’s principal financial services arm, a listed company with over Rs 1 lakh crore market value.

The Solana price has risen by 1% in the past 24 hours, touching $144 as the crypto market as a whole dips by 1%.

IndiGo, mints pilots out of fresh college graduates. It was here, during the six months of training that many women graduates sat in an aircraft for the first time. They were part of a batch of 77 that the airline inducted yesterday to mark Independence Day. The airline has 800 women pilots, the highest among any commercial airlines in the world but it is still 14% of the 5,038 pilots it employs whereas overall female representation in the company is 44%.

of the Nifty 50 index. Data compiled by DSP MF shows that the market capitalization share of the top ten Nifty companies is hovering around 20%, an all-time low compared to the overall universe of stocks. There are equal-weighted funds for the Nifty 50 and Nifty 100 indices in the industry, but none track the equal weight of the top 10 stocks in the Nifty index.

Kerala Chief Minister Pinarayi Vijayan on Thursday said that while everyone in the country was sad regarding the Wayanad landslides that claimed over 200 lives, it was time to live and move forward for the survival of the state. Vijayan, speaking after hoisting the national flag at the Central Stadium on the occasion of the 78th Independence Day of the country, also said that even as India excelled in various sectors since its independence in 1947, the scientific awareness in the country was being damaged and superstitions, harmful customs, and outdated rituals were making a comeback. Referring to the landslides in Wayanad, the CM said that Kerala and the country were celebrating the independence day in a time of grief following the disaster. «But, we cannot remain sad. We need to live and move forward for the survival of the state. So, the independence day, this year, should give impetus to the joint activities that ensure the state's survival,» he said.

The price of XRP has risen by 1% in the past 24 hours, with its move to $0.5795 coming as the crypto market as a whole post a 3.5% return today.

On 21 July, I visited the Bank of England Museum in London. It was an interesting and an engaging experience. Nonetheless, I was left wanting more, simply because I thought the museum would be more about the history of money than about who did what at the Bank of England since its establishment in 1694.