Provident Financial News

Canada has warned its citizens against travelling to India amid a brewing diplomatic crisis. The development came less than a day after Prime Minister Justin Trudeau announced that Canadian intelligence agencies were "actively pursuing credible allegations" linking New Delhi to the killing of separatist leader Hardeep Singh Nijjar. “Exercise a high degree of caution in India due to the threat of terrorist attacks throughout the country," cautions the Canada government website.

NEW DELHI : The government is ready to offer a payment security mechanism to vehicle manufacturers who bid for its tenders for electric buses, after the failure of the previous bidding round, according to several people in the government and industry. Under the mechanism, manufacturers who participate in an ‘own and operate’ bid will be assured of payments by the state transport units for their service. If transporters fail to make timely payments, bus makers will be able to receive funds from a corpus set up by the government.

NEW DELHI : The bankruptcy regulator has amended the rules to speed up debt resolution of companies by reducing litigation and giving greater clarity on the obligations of parties involved in the process. The Insolvency and Bankruptcy Board of India (IBBI) also strengthened the role of professionals administering bankrupt businesses by codifying the process by which the records of a company’s assets can be taken over from any person, not just promoters and managers.

₹200) and a coke ( ₹100), with the total being charged at ₹300. Our updated menu now offers any munchy paired and a glass of juice or coke at ₹200 (the beverage is complimentary).

Overlapping risk: A wolf in sheep’s clothing When determining the investment approach for large-caps, be it active or passive, one must analyse the overlapping factor which is an unavoidable constant in the dynamic world of large- cap funds. Data suggests that 73% of the large-cap funds have 40-60% overlapping. Some overlap is a given in the large-cap world, but excessive overlap reduces all the benefits one can get from excess diversification, irrespective of whether the approach is active or passive.

life insurance by themselves, according to a recent data analysis by PolicyBazaar. Term life insurance is gaining popularity among homemakers, despite the fact that they don't have any fixed source of income. The data found that 45% of homemakers are actively involved in the decision-making process with their husbands when purchasing term insurance for themselves.

NEW DELHI : Developed countries can no longer afford to be cautious in providing financing for achieving sustainable development goals, the UN’s resident coordinator in India Shombi Sharp said in an interview. Sharp said the world faces a $4 trillion financing gap for the SDGs and called for greater political will to provide this funding. Sharp said India was uniquely placed between developed and developing countries, which allowed it to deliver a consensus at the G20.

WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission (SEC) on Tuesday charged Concord Management and its owner with failing to register with regulators while operating as an investment adviser to an unidentified billionaire former Russian official.

Here is how securitization helps reduce the risk of default on loans taken by a borrower. Such loans are repackaged into interest-bearing securities and sold to investors, thus spreading the risk thin. That is also what a pass-through certificate, or PTC, does. They are a type of securitization where the investors are paid interest but the final principal depends on the repayment by the borrower. It is considered risky because investors may not get the principal in full if the borrower defaults.

Nirmala Sitharaman on Tuesday launched Kisan Rin portal along with Weather Information Network Data Systems (WINDS) manual in Delhi. The portal will serve as an integrated hub to offer a comprehensive view of farmer data, loan disbursement specifics, interest subvention claims, and scheme utilisation progress. The finance minister also unveiled the Ghar Ghar KCC campaign to achieve saturation of the scheme.

₹10,000 crore for its paints business and till Q1 had spent around ₹3,600 crore. It aims to become a profitable number two player in the coming years. The allure of the paints sector is understandable.

India Global Capability Centres (GCCs) of New York-headquartered telecommunications conglomerate Verizon grew 15% last year, Sowmyanarayan Sampath, CEO of Verizon Consumer Group said on Tuesday at a press briefing. Verizon Consumer Group in 2022 contributed $105 billion in revenue to the company’s overall revenue of $136 billion. As per Investopedia, Verizon is the second largest provider of cellular service in the US that provides communications, information, and entertainment products and services worldwide to consumers, businesses, and government organizations through its consumer and business segments.

Deepak Kumar Uprariya, an technician a PSU and worked on building ISRO's Chandrayaan-3, is now reportedly selling tea and idli. According to a report by the BBC, Uprariya, who works with Heavy Engineering Corporation Limited, Ranchi, has not received salaries for the last 18 months. HEC, a Central Public Sector Undertaking (CPSU), did many important works for ISRO including the lunar mission. Many HEC employees have reportedly not received their salaries for the last 18 months. Upararia initially tried to manage household bills using a credit card.

Finance Minister Nirmala Sitharaman on Tuesday expressed concern over the slow progress of computerisation in Regional Rural Banks (RRBs) and urged them to speed up the process to strengthen credit delivery in rural areas.There is still a lot of work to do in digitising RRBs and cooperative banks, she said after launching the ‘Kisan Rin Portal’ and Weather Information Network Data Systems (WINDS) manual here.Cooperative banks are not equally endowed, and their financial health varies, she said, adding ramping up capacity in the sector is taking place under the Ministry of Cooperation headed by Home Minister Amit Shah.

One97 Communications Limited (OCL), the parent company of Paytm, has partnered with Hindustan Petroleum Corporation Limited (HPCL) to drive technology for its loyalty programme — DriveTrack (DT) Plus loyalty programme and payment solution.

Nipah virus infection were reported in the state. “Even ICMR could not provide a clear answer as to why Nipah cases are being reported from Kozhikode district…It is under control but threat is not over yet. Health experts are of the opinion that the possibility of a second wave is very remote but cannot be completely ruled out," said Vijayan.

ChatGPT and Bard captured public attention. The initial excitement has now been tempered with some scepticism about these AI tools, but there is hope that they will keep improving with newer versions.

That India hosted one of the most successful G20 summits of all under its presidency, that too amid a difficult global geo-political and economic scenario, is commendable. Conducting a G20 summit is like an orchestra, where different ministries, departments and government bodies of the host country work seamlessly under the leadership of the concert-master—in our case, Prime Minister Narendra Modi. With the G20 success, India has shown its skills of coordination, planning and execution to the world.

women's reservation bill introduced in Lok Sabha on Tuesday, but some of them questioned the «delay» of nine years by the Modi government despite enjoying a majority in Parliament. Veerappa Moily and Kapil Sibal, who were Union law ministers during the UPA rule, attacked the BJP for not supporting the Congress earlier for passage of the bill. Ramakant Khalap and Ashwani Kumar said it was a long-due move to address the aspiration of the people of India that women get proper representation in legislatures. The bill is aimed at expanding women's participation in Lok Sabha and state assemblies across the country. Senior Congress leader Moily told PTI that introducing the Bill when the elections are approaching is «absolutely political» and the government does not have a legitimate interest in women as a class. Rajya Sabha MP Kapil Sibal said if it was not a «political move» and was really for the empowerment of women, the Centre should have moved it in 2014 when the BJP-led government came to power.

wholesale mandis (market yards) with the online trading platform eNAM, taking the total count to 1,389 in the country, Agriculture Secretary Manoj Ahuja said on Tuesday.

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