Provident Financial News

Indian lawmakers have approved a data protection legislation that “seeks to better regulate big tech firms and penalize companies for data breaches” as several groups expressed concern over citizens’ privacy rights

repo rate is the rate of interest at which RBI lends to other banks. "As we celebrate India’s 77th Independence Day in a few days, I am happy to note that the Indian economy is exuding enhanced strength and stability despite the massive shocks to global economy in recent years. Our economy has continued to grow at a reasonable pace, becoming the fifth largest economy in the world and contributing around 15 per cent to global growth.

Twitter Inc. or X was fined $3,50,000 for not immediately complying with a Justice Department search warrant for records pertaining to former US President Donald Trump's account. The social media giant was held in civil contempt by the US Court of Appeals for the DC Circuit.

Shaktikanta Das said. “The concept entails putting in place a clear method for resetting the rate of interest on loans of this kind. The Governor of the Reserve Bank of India has highlighted this plan, emphasising the necessity for an easier and more organised approach regarding interest rate changes," said LC Mittal, Director, Motia Group.

iOS 17 was revealed by Apple back in June, recent focus has intensified as individuals delve into beta versions of the impending software update. A series of images originating from iOS 17 beta versions have been shared by various news sources this week, showcasing this minor alteration that could potentially lead to user frustration.

Suzlon Energy shares jumped 5% to the day's high of Rs 20 in Thursday's early trade after the company's Board approved to launch qualified institutional placement (QIP) to raise up to Rs 2,000 crore. The QIP will be of Rs 1,500 crore, with an oversubscription option of Rs 500 crore. The issue opened on Wednesday.

As per the RBI statement: It is proposed to put in place a transparent framework for reset of interest rates on floating interest loans. The framework will require Regulated Entities to (i) clearly communicate with borrowers for resetting the tenor and/or EMI; (ii) provide options for switching to fixed rate loans or foreclosure of loans; (iii) disclose various charges incidental to the exercise of the options; and (iv) ensure proper communication of key information to borrowers.

Artificial Intelligence (AI) has become intertwined with our lives. It’s not just a narrative anymore. We use AI daily in so many ways.

RBI) governor Shaktikanta Das on Thursday said that India is contributing approx 15% to global growth. Das announce the third bi-monthly monetary policy for FY24 today. The three-day meeting of the six-member Monetary Policy Committee (MPC) of RBI was held from August 8 to 10.

Dieselgate" emissions-cheating scandal of 2015, would take another hit. In a paper published last year, Rüdiger Bachmann of the University of Notre Dame and others calculated that because the company was found fiddling with emissions readings, sales of other German brands in America fell by 166,000 cars, costing them $7.7bn in forgone revenues, or nearly a quarter of their total in 2014. If Germany’s car industry were to evaporate, in other words, this would “leave a huge economic crater in the midst of Europe", says Mr Schroeder of WZB.

The Chief Minister of Rajasthan, Ashok Gehlot, has recently introduced a new program called the "Indira Gandhi Free Smartphone Yojana 2023." This initiative aims to offer complimentary mobile phones to the women residing in the state of Rajasthan, along with internet and voice call services. The distribution of complimentary smartphones as part of the Indira Gandhi Free Smartphone Yojana 2023 is scheduled to commence on August 10, 2023, and is expected to conclude around August 30, 2023. During this period, the initial phase of smartphone distribution will prioritize widows and divorced women residing in Rajasthan, as per the government of Rajasthan.

Shibani Sircar Kurian, Senior EVP, Fund Manager & Head -Equity Research, Kotak Mahindra AMC, says “on a relative basis, we are not as expensive as one would have imagined simply because the entire emerging market pack has also gone up. That provides some degree of downside support to the market, even though near term, because of absolute valuations, we could see some volatility.

There is no longer any justification for consuming alcohol excessively and then deciding to drive home, especially in Italy. The Italian government intends to initiate a trial initiative aimed at offering intoxicated individuals the opportunity to utilize complimentary taxi services. Italy is currently testing a strategy to offer free taxi rides to party attendees as a means to reduce instances of drunk driving and mitigate fatal accidents.

Phoenix Mills reported strong June quarter numbers on Tuesday, brokerage firm Motilal Oswal Financial Services has downgraded the stock to a 'neutral' from a 'buy' and fixed the target price of ₹1,845, implying a 10 per cent upside potential. Motilal downgraded the stock because of the recent sharp gains in stock prices in the last one year. The stock has jumped over 33 per cent against a nearly 24 per cent gain in the BSE Realty index and a 12 per cent gain in the equity benchmark Sensex in the last one year.

Analysts have given a mixed verdict on the IPO due to aggressive pricing. «The issue is priced at 10.5 times based on its NAV of 18.89 as of March 2023. Given good legacy parentage, tech-enabled and process-driven solution company and retirement of debt from IPO proceeds to improve net margins, we recommend a „Subscribe“ to the issue for long-term rewards,» said Reliance Securities.

Battlegrounds Mobile India) quickly rose to prominence in India after the ban on PUBG Mobile. Despite facing its own ban, the Indian government decided to allow BGMI back into the country with certain modifications around 10 months ago. Similar to other popular battle royale titles like Garena Free Fire, BGMI developers regularly release redeem codes that grant players access to a wide range of enticing rewards and freebies.

agricultural practices, the reduction of reliance on imported food, and the reinforcement of resilience against the impacts of climate change. In a conversation with LiveMint, Lisa Moon, who holds the position of President and CEO at the Global FoodBanking Network (GFN) and is also the organizer of the G20 Global Food Security Summit 2023, emphasized the critical objectives and pressing nature of ensuring food security. (Edited excerpts.) The Global Food Security Summit 2023 is comprised of officials, businesses and civil society members from across India.

Facebook across the globe, a University of Oxford study claims on Wednesday that it found no evidence that the social media platform's worldwide penetration is linked to adverse mental health impact. The study by the Oxford Internet Institute (OII) used wellbeing data from nearly a million people across 72 countries over 12 years and harnessed actual individual usage data from millions of Facebook users worldwide to investigate the impact on wellbeing of the platform, now branded as Meta.

General Motors said Tuesday that it planned to equip all of its electric cars and trucks with the ability to act as backup power supplies during blackouts. The decision to install two-way charging technology in Chevrolet, Cadillac and GMC electric cars and trucks, enabling them to power homes in an emergency, shows how carmakers are marketing the vehicles as being not just cleaner than their gasoline counterparts, but also more practical. The technology will begin appearing in vehicles this year, including an electric version of the Silverado pickup and an electric Cadillac Escalade, which GM will unveil Wednesday.

Techcrunch, “We actually have been looking at multiple markets around the world with an eye toward prioritizing those that are going to help us turn this business into a profitable business. What that basically means is there are some markets that we will invest less in local programming but still maintain the service." Bob Iger has also promised to turn the company profitable once again with a hike in prices of its ad-free Disney and Hulu plans from October this year and a crackdown on password sharing which is expected to commence from next year. While terming the near-term environment as ‘challenging’, Iger said, “I returned to Disney in November, and I've agreed to stay on longer, because there was more to accomplish before our transformation is complete," The media conglomerate plans to raise the price of its ad-free Disney plan by $3, or about 27 per cent, to $14.

TVS Supply Chain IPO: The initial public offering (IPO) of TVS Supply Chain Solutions Ltd is going to hit primary market today and it will remain open for bidding till 14th August 2023. TVS Supply Chain IPO price band has been fixed at ₹187 to ₹197 per equity share and the book build issue aims to raise ₹880 crore from its this public offer. According to market observers, shares of TVS Supply Chain Solutions are available at a premium of ₹30 in grey market today.