Provident Financial News

Logistics service provider Mahindra Logistics has collaborated with Flipkart for integrated line haul solutions. Mahindra Logistics will provide a fleet of Heavy Commercial Vehicles, assistance in route management and network operations, and analytics for Flipkart’s operations across the country. Mahindra Logistics will operate 32 ft single axle heavy commercial vehicles for Flipkart in collaboration with Daimler India Commercial Vehicles, which will run on multiple national routes, across the country.

Elon Musk's X (formerly Twitter) has updated its privacy policy in a bid to collect biometric and other kinds of personal data like the user's educational history and employment preferences. In the updated privacy policy spotted by Bloomberg, X noted, “Based on your consent, we may collect and use your biometric information for safety, security, and identification purposes," The company clarified that biometrics will be used for adding an extra layer of verification for premium users, giving them the ability to provide their government ID and picture.

New income tax rules for these salaried taxpayers: The income tax department has announced major relief to taxpayers, availing company-provided rent-free homes. It has lowered the tax for employees staying in such accommodations. The new rule comes into effect from today, September 1, 2023.

Covid-19 pandemic, governments, businesses and households became addicted to low interest rates, gorging on debt to fund everything from expensive new cars to crisis-fighting stimulus and leveraged buyouts. That era was a product of the sluggish, low-inflation environment that prevailed after the 2007-09 global financial crisis, and now it is over. As investors have come to that realization in recent weeks, long-term bond yields have risen to 15-year highs.

Aditya L1 launch: After the successful soft landing of Chandrayaan-3, ISRO is now set to launch country's maiden solar mission Aditya-L1. Aditya-L1 spacecraft is designed for providing remote observations of the solar corona and in situ observations of the solar wind at L1 (Sun-Earth Lagrangian point), which is about 1.5 million kilometres from the earth. It is India's first solar space observatory and will be launched by the PSLV-C57.

₹2,247.37 crore for the supply of smart meters. Genus Power share price opened at ₹271.60 apiece on BSE.

GJEPC) has joined hands with the Jewellers Association Jaipur (JAJ) to form a special purpose vehicle (SPV), Jaipur Gem & Jewellery Board (JGJB) to implement the Jaipur Gem & Jewellery Bourse project. This global gemstone trading centre is expected to house 1,500-2,000 units — coloured gemstone and jewellery units, labs, banks, insurance, logistics, and security service providers among others. This will augment Jaipur’s status as the largest cutting and polishing centre for gemstones in the world. Vipul Shah, Chairman, GJEPC, said in a statement, “Jaipur is the gem capital of India and GJEPC has been pursuing the Jaipur Gem & Jewellery Bourse dream project for around a decade now.

India’s manufacturing sector showcased its fastest growth in three months in August, driven by robust growth in new orders and output increase, according to S&P Global monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) surged to 58.6 in August from July’s 57.7, indicating the second-best improvement in the health of the sector for nearly three years. Demand strength was pivotal to August’s robust performance, spurring the fastest upturn in new orders since January 2021. Competitive pricing and advertising were also cited as factors behind sales growth, the survey said. 

₹695 - 735 per share. The IPO will open for subscription on September 6 and close on September 8. The anchor book for the Jupiter Life Line IPO will open on September 5.

Indian Railways‘ ‘One Station One Product’ (OSOP) scheme is proving beneficial for promoting ‘Vocal for Local’ vision and to provide a market to sell local or indigenous products. The scheme was first launched on March 25, 2002 on a pilot basis. These stalls have been designed by the National Design Institute for uniformity.

ICICI Prudential Life Insurance has launched a new income plan – ICICI Pru GIFT Pro – which will provide customers with an option to receive either a year-on-year increasing income or a constant regular income. In addition, the life cover component of this non-participating savings product will also provide financial security to the family of the policyholder.

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ManipalCigna Health Insurance, one of India's fastest-growing standalone health insurance company has been appointed as lead health insurer for the Karnataka State Insurance Awareness Plan. On Friday, Insurance Regulatory and Development Authority of India (IRDAI) announced that the «ManipalCigna will play a pivotal role in raising awareness, ensuring that citizens of Karnataka have access to insurance coverage.»

ministry of external affairs (MEA) has introduced 'significant' changes in the delivery of passports, visas and consular services in its move to mitigate predatory pricing, Travel Agents Association of India (TAAI) said in a statement. The industry body also said the ministry's move tightens rules for selection of partners visas and consular services to the Indian diaspora and foreign visitors. The Indian missions of the MEA are the first touch points for any international traveller coming into India — the Indian Citizen or Person of Indian Origin (PIO) and foreigners (traveling to India) residing overseas. «The ministry of external affairs (MEA) has embarked on a transformational programme to reform and strengthen its tendering and evaluation process in a holistic manner to select the right outsourced service providers,» said TAAI president Jyoti Mayal. «While the focus lies on L1 pricing, there is a strong emphasis on the four pillars of quality services, sustainable and viable price, data protection and security, and ethical practices and integrity,» she added. She said it is important that the first impression of any individual travelling to India or having to work with any Indian Mission anywhere in the world needs to be 'impeccable' as the government is determined to work towards delivering the promise of new India. «Therefore, the MEA and its missions as true representatives of the Indian government to the world must focus on offering superior, efficient, and cost-effective services as perhaps the first step in that direction,» she added. The president concluded by stating that India is positioning itself as a global leader in several sectors such as trade, cross border services and citizen services. «As India

Stella Thomas, Head of Talent Acquisition, Tally Solutions, a leading business software provider, says it is important to understand the nuances involved in taking such a complicated decision. First of all, there are two sides to the story. On one hand, companies face a huge challenge if people do not join, especially at the last moment, and they have to restart the hiring process. Thomas says that it is unprofessional to decline an offer after accepting it, and it can affect the candidate’s personal brand to some extent. Furthermore, the organisation concerned may not have a positive orientation towards such candidates when they reply later to the company. She says, “We do witness multiple instances of candidates declining an already accepted offer. In the recruitment world, this nomenclature is termed as renege. Recently, we experienced a similar situation with one of our tech hires. The candidate declined the offer on the day of joining. Any previous experiences do not prepare the talent acquisition team to deal with such situations.” While talking about the difficulties faced by employers, she explains that one of the challenges a product company of their size faces is that there is a provision to roll out only one offer per requisition. Hence, it is necessary to have a continuous flow of pipelines ready to mitigate such challenges.

The chairman and chief executive of Australia’s biggest smash repair chain, AMA Group, are leaving after a tumultuous period of pressure on earnings and the balance sheet.

auction satellite spectrum, Reliance Jio has submitted to authorities, including regulator Trai, another legal opinion from a former Supreme Court judge who has opined that while there is no mandate, constitutional or otherwise, that natural resource allocation must be only by auction, it is certainly “a more preferable method”. As per Justice L Nageswara Rao, former judge of Supreme Court, in light of commercial considerations underpinning the allocation of satellite spectrum and sans any social or welfare objectives, any law or rules providing for a method other than auction, raising concerns on its legality, could be found “constitutionally unsound under Article 14 of the Constitution of India.” The judge has given his opinion of a query from Jio seeking to know whether under the constitutional and legal regime in India, auction is the only permissible mode of assignment of spectrum for commercial space-based communication services. Earlier, Jio had shared the opinion of former Supreme Court judge KSP Radhakrishnan to Telecom Regulatory Authority of India (Trai) to back its view that auction should be the mode of spectrum allocation for satellite communication services. This comes on the heels of satcom companies sharing the view of former attorney general Mukul Rohatgi, who said auction isn’t the most appropriate and efficient method of resource allocation. As per Justice (retired) Radhakrishnan, when natural resources are made available to private parties for their own gain, the state must endeavour to maximise its own revenue by adopting competitive means of disposal.

China's ongoing battle with its soaring population figures has led to some unconventional measures aimed at controlling population growth. One such measure involves the legal marriage age, set at 22 for men and 20 for women across the country.

New Delhi: The government has increased the price of natural gas to $8.60 per metric million British thermal unit (mmBtu) for September, from $7.85 in August. However, the price of the gas from the nominated gas fields of ONGC and Oil India has been kept unchanged at the price cap of $6.5 per mmBtu. "The price of domestic natural gas for the 1st September 2023 to 30th September 2023 is notified as $8.60/MMBTU on gross calorific value (GCV) basis," said the notification dated 31 August.

₹4-4.5 lakh, likely to arrive this festive season. This highly anticipated model will be manufactured in India and cater to both domestic and international markets. The teaser provides a glimpse of the silhouette of the upcoming fully-faired motorcycle, which appears to draw design cues from the larger Aprilia RS 660 supersport bike.