Provident Financial News

₹5 lakh which is ultra-flexible, unlike a standard personal loan. Customers can choose the amount required and take only as much as needed each time, and pay interest only on what they take.

GST Council will be held this week in New Delhi's Vigyan Bhawan, though the agenda is not yet known. However, as per media reports, the GST Council is likely to review the progress made by the states in incorporating changes with regard to the taxation of online gaming in SGST laws as approved by the council in its 51st meeting.

Key Takeaways

The U.S. Securities and Exchange Commission (SEC) has announced settled charges against broker-dealer Citadel Securities LLC for non-compliance with Regulation SHO, a framework aimed at curbing abusive short selling practices. The regulation mandates broker-dealers to appropriately mark sale orders as either long, short, or short exempt. Such records play a pivotal role for regulators in monitoring and preventing illicit short selling activities.

Bloomberg Index Services (BISL) will be holding advisory meetings for the Bloomberg Fixed Income Index in Asia, Europe, and the US this month and the next to discuss, besides other items, the eligibility of Indian sovereign bonds for inclusion in the benchmark being referenced by investors globally to buy bonds. The move comes barely two weeks after JP Morgan included India in its Global Government Bond Index-Emerging Markets (GBI-EM) global index suite starting June 2024. «BISL will be conducting the Bloomberg Fixed Income Index Advisory Councils (the „IACs“), in the US, Europe and Asia in October and November.

medical devices such as ventilators, nebulisers, and x-ray equipment to continue production for “a limited period” amid a delay in issuing new regulatory licences, a senior official said. With the Central Drugs Standard Organisation (CDSCO) missing the October 1 deadline to provide licences to them, it is likely that those manufacturers that have already applied may get an extension for a limited period, the official said.

Asia-based blockchain venture capital (VC) firm CMCC Global has announced the launch of its Titan Fund, committing $100 million to support blockchain startups in the region.

The Republic of Uzbekistan has approved new regulations for issuing licenses for cryptocurrency mining activities.

Taylor Morrison CEO Sheryl Palmer discusses the headwinds facing the housing market after a drop in August on existing home sales on 'The Claman Countdown.'

MUMBAI : The founders of Great Learning are trying to line up investors to buy back the online education provider from Byju’s, two people aware of the discussions said. The management buyback will allow the founders to continue to run the firm and receive equity payouts in return. The proposed buyback follows Byju’s efforts to monetize some of its assets to repay its lenders.

NEW DELHI : Investors must be cautious about stock performance claims being touted on social media, and the regulator is keen on creating an agency that will evaluate such claims, Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch said. Speaking at an event organized by the Association of Registered Investment Advisers (ARIA), Buch said some advisers were even providing illegal portfolio management services (PMS) to clients. More than a third of investment advisers offering stock market advice to small investors were not registered with Sebi as required under the law, she added.

NEW DELHI : Honeywell is automating mines, refineries and power plants worldwide with artificial intelligence and machine learning similar to how advanced technology aids modern autonomous cars, a top executive at the global technology conglomerate said. The American multinational company, which has operated in India for eight decades, counts top conglomerates such as Reliance and Adani groups among its clients. It provides industrial automation solutions for power, oil and gas, steel and mining and sectors.

NEW DELHI : The Union cabinet on Wednesday raised cooking gas subsidy from ₹200 to ₹300 per cylinder for about 96 million low-income households, a move coinciding with upcoming assembly elections in five states and next year’s national polls. Offering additional subsidies aimed at benefiting rural women comes barely a month after the government approved the expansion of the PM Ujjwala Yojana scheme to 7.5 million women to take the number of total beneficiaries to 103.5 million over the next three years.

EV charging and energy management solutions company, Wallbox NV (NYSE:WBX) announced Wednesday that they have partnered with Free2move eSolutions to promote the adoption of electric vehicles in North America.

Enforcement Directorate is not expected to be «vindictive» in its conduct and must act with utmost probity and fairness, the Supreme Court has held, and directed the anti-money laundering agency to henceforth furnish the grounds of arrest to the accused in writing «without exception». In a significant verdict having far-reaching ramifications, the apex court said being a premier investigating agency charged with the onerous responsibility of curbing the debilitating economic offence of money laundering in the country, every action of the ED in the course of such exercise is expected to be «transparent, above board and conforming to pristine standards of fair play in action». «The ED mantled with far-reaching powers under the stringent Act of 2002, is not expected to be vindictive in its conduct and must be seen to be acting with utmost probity and with the highest degree of dispassion and fairness,» a bench of Justices AS Bopanna and Sanjay Kumar said.

Hindu marriage is not valid without 'Saptapadi' ceremony and other rituals, the Allahabad High Court has quashed the proceedings of a case where a man alleged that his estranged wife had solemnised second marriage without divorcing him. Allowing a petition filed by Smriti Singh, Justice Sanjay Kumar Singh observed, «It is well settled that the word 'solemnize' means, in connection with a marriage, to celebrate the marriage with proper ceremonies and in due form.

By Steve Holland

Based on some comments, it appears we scared a few people with A Crisis Is Coming.

MUMBAI : The Reserve Bank of India on Wednesday constituted an external working group on expected credit loss (ECL) based framework for provisioning by banks. This move comes after RBI released a discussion paper in January this year on shifting from the incurred-loss approach to the ECL model, a transition aimed at making the banking system more resilient.

Some analysts are already calling InQubeta ($QUBE) the best cryptocurrency to invest in right now thanks to the profits its presale offers and its long-term growth potential. It’s one of the best DeFi projects to be launched in some time as it takes on traditional investment firms by providing an easier-to-use alternative.