Provident Financial News

Sandeep has just turned 57 and is looking forward to his retirement in the next three years. He is proud of the fact that he has accumulated a sizeable corpus by investing diligently in the PPF, EPF and equity mutual funds. Over the past 20 years, he has made these choices after considerable research and deliberation.

Libya’s central bank has announced its reunification after being split for nearly a decade due to the country’s long-running civil war that resulted in two rival administrations, in the east and the west

Australia’s green bank is poised for its first investments in the power grid as it gears up for another busy year after a record 12 months of investment commitments in 2022-23.

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In an official statement issued on Sunday morning, the Patriots conveyed that Bolden had been discharged from a hospital in Green Bay after undergoing thorough assessments and being held for overnight observations. Furthermore, the statement mentioned that Bolden would be accompanying the team as they travel on Sunday.

Sorin Investments, a technology-focussed fund, co-founded by former KKR India head and private equity veteran Sanjay Nayar and Angad Banga, has raised a corpus of over Rs 1,000 crore for the second close of its maiden fund. It had raised around $100 million (approximately Rs 800 crore) in its first close last year. The tech-focused investment firm’s fundraise comes at a time when the Indian tech startup ecosystem is facing a funding crunch that has seen several investors slash down the valuations of several major Indian tech companies. Investors in the fund include Henry Kravis, George Roberts and other partners of the American global investment firm KKR & Co as well as Hero Enterprise chairperson Sunil Kant Munjal and a few other global and Indian family offices. Nayar and Banga were formerly associated with KKR. Nayar founded Sorin after a four-decade career spanning banking and private equity. Nayar and Banga have also invested a significant amount of their personal capital in the fund as sponsor commitments, they said in an earlier interview without disclosing the sum. The fund focuses on early-stage technology startups across various industries like fintech, edtech, software as a service (Saas), logistics, clean technologies and direct-to-consumer products and brands. It aims to invest between $2-10 million in target companies.

telecom operators — Reliance Jio and Bharti Airtel — have divergent views on the use of the Universal Service Obligation Fund (USOF). Market leader Jio believes that, at present, the cash reserve is being used to fiberise the towers of competitors which «should not happen», while second-ranked Airtel wants the Centre to now start using the fund to fiberise towers. "...Let it [USOF] remain with the operators.

5G networks in India from the second half of 2024, said a senior executive of Finnish telecom gear maker Nokia. «You will see some early adopters this year, and then I think by the second half of 2024, there will be a big growth in the enterprises,» said Sanjay Malik, head of the India market for Nokia. He was speaking at ETTelecom's fourth edition of Digital Telco event — 2023, organised with the TRAI Centre for Studies and Research.

BlueRock hashired Ad Astra and Clearsight Advisors, the corporate adviser’s affiliate in the United States, to advise on a capital raise and find a capital partner to help it supercharge its growth, Street Talk can reveal.

NEW DELHI : Telecom service providers will pursue resolutions and reforms aimed at reducing sector-related litigation, totalling over ₹76,780 crore, arising from tax disputes and legacy matters, top executives said. Vodafone Idea Ltd chief executive Akshaya Moondra said in an earnings call with investors last week that a structural change was needed to prevent avoidable litigation.

The largest union at Navy shipbuilder Bath Iron Works, located in Maine, has approved a three-year contract, averting another strike like the one three years ago

MV Murugappan. The terms of the arrangement have been kept confidential. Dr.

NEW DELHI : The government should give incentives for research and development projects on advanced battery technology, said a CII report on Sunday. The report on battery manufacturing and its ecosystem released by the Confederation of Indian Industry (CII), suggested that incentives be given from a dedicated fund for the development of the battery technology ecosystem.

Arvind Kejriwal took a jibe at Madhya Pradesh Chief Minister Shivraj Singh Chouhan who is often referred to as ‘Mama’, saying that don’t trust him as ‘your Chacha (alluding to himself) has come’, as he announced election sops for the state ahead of the Assembly election 2023. Addressing a press conference, Arvind Kejriwal said, “I got to know there is a 'Mama' in Madhya Pradesh. He has cheated his nephews and nieces, do not trust him.

NEW DELHI : There has not been any meaningful change in Kotak Institutional Equities’ earnings growth outlook for FY24-25 following the June quarter results. Its chief executive officer and co-head Pratik Gupta said the market will continue to consolidate around the current levels for the next few months and there is no major catalyst for a sharp rally or a sustained correction. He believes India’s valuations are not cheap, and index earnings yield is also relatively unattractive versus bond yields.

NEW DELHI : The Centre is considering shifting its financial assistance for adoption of electric vehicles (EVs) toward public transport such as e-buses. The support for purchase of private electric two-wheelers may be gradually phased out, said a person in the know of the developments. “There is a view that the subsidies should gradually be phased out for private two-wheelers and assistance should go for public transport and charging infrastructure," the person added.

Russia's first lunar mission in nearly five decades, Luna-25, crashed into Moon a day after it had spun into uncontrolled orbit, the country's space agency said on Sunday, leaving India's Chandrayaan-3 mission's lander module the only spacecraft in the race to touch down on the lunar surface. According to the Russian Space Agency 'Roscosmos', on August 19 an impulse was provided to propel Luna-25 into an elliptical pre-landing orbit. At about 11:57 GMT, communication with Luna-25 was lost, in a blow to Moscow's space ambitions.

Equitas Small Finance Bank Ltd has plans to foray into credit cards and personal loan segments as it expects to build a consumer finance portfolio, a top official said. Equitas Small Finance Bank was also investing in developing a mobile application to serve merchants and help improve their business operations.

NEW DELHI: Former Russian president Dmitry Medvedev has warned that the Russia-Ukraine conflict may end up dragging on for decades as the fight is an “existential” conflict for Moscow and a «fight for its very existence». According to a report by RT, Medvedev posted on social media stating that «Russia must destroy and fully dismantle the Ukrainian state that is a terrorist in its essence, making sure this filth never re-emerges again». Medvedev, who is currently deputy chairman of the Russian Security Council, wrote: “Should it take years or even decades, then so be it. We have no choice: either we will destroy their hostile political regime, or the collective West will eventually tear Russia to pieces. And in this case, it will perish with us. Nobody needs this." «Therefore, the only way is a complete dismantling of the state machine of the hostile country and absolute guarantees of loyalty for the future. They can only be provided by Russia’s control over everything that is happening and will happen in the territories of the former Banderite state. And we will achieve that,» he said. 'Western support will dry up' MORE STORIES FOR YOU✕« Back to recommendation stor

learning skills and honing leadership to launch an own venture than joining an MBA programme, believe some of the entrepreneurs. Ahead of World Entrepreneurship Day on August 21, many founders with whom PTI spoke noted that while an MBA programme provides valuable managerial skills, it is not a prerequisite for starting a new company. Entrepreneurship is like a real-life MBA where an entrepreneur continually builds business fundamentals and hones communication, leadership and critical thinking skills, according to work-as-a-service platform Awign's co-founder and CEO Annanya Sarthak.

Defence Research and Development Organisation (DRDO) has said there was no collateral damage from crash of Tapas unmanned aerial vehicle (UAV) in Karnataka Sunday morning. “TAPAS UAV was undergoing an experimental flight trial today morning from ATR Challakere, Karnataka. During the flight, a technical snag was encountered and the UAV crashed in a nearby farmland.