Provident Financial News

NEW DELHI : Companies applying for the automotive and auto components production-linked incentive (PLI) scheme fear they may not be able to meet all of the government’s requirements to receive the incentives this fiscal, multiple industry sources said, citing lengthy, “onerous" and complex procedures. Their scepticism comes even as the ministry of heavy industries (MHI) is keen to start disbursing incentives under the ₹45,000 crore scheme on a quarterly basis.

I am an NRI (non-resident Indian) living in the US for more than a decade. My mother died recently and I will inherit one of the immovable properties from her estate. Can I receive and hold immovable property in India, and if so, what are the tax implications on this? —Name withheld on request Under Fema (Foreign Exchange Management Act) regulations, an NRI can inherit immovable property situated in India from an Indian resident without the permission of the Reserve Bank of India.

NEW DELHI : The Securities and Exchange Board of India (Sebi) significantly reduced the number of pending cases in FY23 as the regulator focused on resolving long pending litigation, according to the annual report of the markets regulator. The total number of cases pending before various adjudication officers of Sebi fell to 1,950 in FY23 from 6,924 in FY22, data showed. This reduction in number of pending cases is largely due to a single batch of cases involving trading in illiquid stock options where Sebi had initiated proceedings against more than 13,000 cases.

Shah on Monday said in Rajya Sabha that the bill to replace an ordinance for handling the transfers and postings of officials in the Delhi government has been brought to safeguard the rights of the people and not to usurp the power of the AAP government. Replying to a debate on the Government of National Capital Territory of Delhi (Amendment) Bill, 2023, Shah assured that the Upper House the objective of the bill was «only and only to provide efficient, corruption-free governance and popular government.» He also assured the members that there is not even a single provision that changes the status of the system prevailing since the Congress regime. Shah asserted that the bill is constitutionally valid and it does not violate the Supreme Court judgement from any angle.

Imran Khan's conviction on graft charges has led to a stark and unexpected contrast from his once-glamorous lifestyle. Khan, known for his charismatic persona both on the cricket field and in politics, finds himself detained in a remote and overcrowded prison, highlighting a significant fall from grace. Khan's legal team and political party have raised concerns about the conditions of his detention. After his conviction, Khan was designated for incarceration at Rawalpindi's Adiala jail, but he was subsequently transferred to District Jail Attock, a facility located approximately 80 kilometers (50 miles) west of Islamabad. The move has sparked debate over the appropriateness of his placement in a prison primarily housing hardened criminals, lacking the amenities typically afforded to political prisoners.

Barcelona on Tuesday night. After a convincing 5-1 victory over Shakhtar Donetsk, where Harry Kane scored four goals, Spurs are gearing up for their Premier League opener against Brentford this weekend. Before shifting their focus to the league, Tottenham is heading to Spain for the Joan Gamper Trophy, Barcelona's traditional curtain-raiser. This year's contest marks the 58th edition, with Barcelona remaining unbeaten in the annual friendly since 2012. Tottenham will be the first English team to participate in the event since Arsenal's defeat four years ago. It promises to be an exciting clash as both teams look to test their mettle before the competitive season begins.

Pakistan Tehreek-e-Insaf (PTI) moved Supreme Court on Monday over Imran Khan's conviction in the Toshakhana Case asking it to declare the verdict «null and void», reported ARY News. According to the plea, which was submitted in accordance with Article 184(2) of the Constitution, Toshakhana's case is sought to have been reheard because the PTI leader did not receive a fair trial.

RateGain Travel Technologies Limited on Monday reported a revenue growth of 79.8% year-on- year at ₹214.48 crore for the first quarter ended on 30 June 2023 of financial year 2024. Its profit after tax (PAT) stood at ₹24.91 crore in the first quarter of FY24 as compared to ₹8.42 crore in the same quarter last year.

economic activity. For example, the disruption to French imports during the Napoleonic blockade stimulated French industrialization in mechanized cotton spinning long after the end of the Napoleonic wars. These results are consistent with what proponents of nurturing infant industries argue.

Digital India mission prompts concerns around privacy and data security. The Digital Personal Data Protection Bill, 2023, that was passed by the Lok Sabha on Monday, aims to address these pressing issues and it will significantly impact the lives of consumers.

Max Healthcare Institute on Monday said its profit after tax (PAT) increased by 27% to Rs 291 crore in the June quarter. The healthcare provider said its PAT stood at Rs 229 crore in the April-June quarter of the last fiscal.

By Rishav Chatterjee and Scott Murdoch

Saving for retirement isn’t going to be a priority for many workers when federal student loan payments resume this fall after a 3½-year hiatus.

NVIDIA (NASDAQ:NVDA) was maintained at Buy with a $550 price target by BofA on Monday, with analysts stating it is the firm's top sector pick ahead of its second quarter earnings release.

By James Oliphant and Gram Slattery

By Bansari Mayur Kamdar

By Foo Yun Chee

DA Davidson reiterated a Neutral rating on EV maker, Nikola Corp. (NASDAQ:NKLA) and cut their 12-month price target on the stock to $2.50 (From $3.00) following the automaker’s 2Q earnings release and conference calls with management.

Joe Susanno lost thousands of dollars from his retirement account betting on biotech shares in early 2021. Now the 44-year-old integration engineer from Gloucester, Mass., is putting his money into an investment whose value has held up over a longer run: gold coins. “Precious metals are kind of what just makes it so I can sleep at night, where I hold it and nobody can hurt me," Susanno said.

PayPal USD (PYUSD) is fully backed by US dollar deposits, short-term US treasuries and similar cash equivalents, and can be redeemed 1:1 for US dollars.Starting today and rolling out in the coming weeks, eligible US PayPal customers who purchase PayPal USD will be able to transfer the token to external wallets, send person-to-person payments, fund purchases at checkouts supported by PayPal, and convert cryptocurrency holdings to and from Paypal USD."The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the US dollar," says Dan Schulman, president and CEO, PayPal. "Our commitment to responsible innovation and compliance, and our track record delivering new experiences to our customers, provides the foundation necessary to contribute to the growth of digital payments through PayPal USD." Most of the current volume of stablecoins is used in web3-specific environments, but Paypal's global brand recognition seems certain to propel the novel payments asset into the mainstream.

https://www.skylinerta.com/ipo.php Visit the above link which will take you to Oriana Power limited IPO's registrar's website i.e Skyline Financial Services Private Ltd. Choose the IPO in the dropbox that will only have its name set in if the allocation is completed. Also Read: SBFC Finance IPO: Issue subscribed over 70 times on day 3 so far; QIBs steal the show Pick one of all three options to check the status: Application No, Demat Account, or PAN.