Provident Financial News

ONDC will sell the most coveted food item in the country currently — the humble tomato — for ₹70 a kg. Tomatoes will be sold by the National Cooperative Consumers' Federation (NCCF) for the next 10-15 days, ONDC managing director and CEO T Koshy said in the national capital on Friday. ONDC is a «socially conscious organisation» he said adding that the move will provide publicity for the platform which is trying to roll-out nationally after several pilots in cities across the country.

New Delhi: In a major stride towards strengthening road safety measures, the ministry of road transport & highways (MoRTH) on Friday released comprehensive guidelines for signages on expressways and national highways. The move comes as part of the government’s commitment to enhancing road safety and ensuring a secure travel experience for drivers across the country.

Max Verstappen is aiming for his seventh straight Formula One victory in Hungary, a remarkable accomplishment that brings to mind great drivers like Michael Schumacher, Nico Rosberg and Alberto Ascari. As excitement for the Hungaroring race grows, all eyes are on Verstappen's outstanding performance. Nevertheless, his ambitions face formidable adversaries, including the seasoned Lewis Hamilton, who holds a record of eight wins at this circuit. Lando Norris, leading McLaren's resurgence, adds yet another layer of competition to the mix. Additionally, the return of Daniel Ricciardo with AlphaTauri heightens the stakes, putting pressure on Sergio Perez following his recent practice crash. The dry forecast and live coverage on Sky Sports promise a thrilling and closely contested event.

India and Sri Lanka will conduct feasibility studies on petroleum line and land bridge connectivity between the countries in what could boost sub-regional integration in the Indian Ocean Region, Prime Minister Narendra Modi said on Friday after holding talks with visiting Sri Lankan President Ranil Wickremesinghe. The two sides announced five pacts, including a memorandum of cooperation for economic development projects in Trincomalee district of Sri Lanka and memorandum of understanding on renewable energy.

Narendra Modi has said job opportunities provided by robotics, artificial intelligence, internet of things and drones should be tapped. Speaking at a meeting of the labour ministers of G20 nations in Indore on Friday, Modi said there should be more sharing of data, statistics and information for better formulation of evidence-based employment policies and plans. In a virtual address to the conference, Modi emphasised on skilling, re-skilling and up-skilling.

Alexis Putellas finally made her entry into Spain's opener at the Women's World Cup against Costa Rica on Friday, the match was already won. The two-time Ballon d'Or winner waited 77 minutes to leave the bench, to enter the tournament and to provide an early answer to questions about her fitness after her long recuperation from injury. Putellas damaged the anterior cruciate ligament in her left knee just before Spain's European Championship campaign last year, returned for the first time in April and has been played sparingly since, mostly from the bench.

gig workers of the state will be registered with all the aggregators of the state. The aim of the bill is to set up a welfare fee deduction mechanism that will be integrated with the aggregator app. In case an aggregator fails to comply with the provisions of the act, the bill mentions ₹5 lakh penalty for the first offense and ₹50 lakh penalty for the subsequent offense.

NEW DELHI : An estimated 50 million workers who left the global hospitality industry in the last three years amid the devastating impact of the pandemic may never return to work. This has caused a major challenge for hotels, travel agencies, and other travel service providers, who are struggling to find enough staff to meet a post-covid surge in demand. However, one company sees this as an opportunity to assist these businesses in generating more revenues.

NEW DELHI : Budget carrier SpiceJet has told the National Company Law Tribunal (NCLT) on Friday that Willis Lease Finance is not among the four operational creditors of the airline and hence, its petition against the airline to initiate a corporate insolvency resolution process is dismissable. After the hearing, the court deferred the proceedings and the tribunal is now scheduled to hear the matter on 31 July. Challenging the maintainability of the petition, senior counsel representing SpiceJet Krishnendu Dutta said Willis isn’t among the airline’s four operational creditors.

NEW DELHI : Khosla Ventures-backed Novopay Solutions Pvt. Ltd is in the process of demerging its retail business. The company will now only house its banking software business, which was recently rebranded as ‘Trustt’, chairman Srikanth Nadhamuni said in an interview.

NEW DELHI : Vedanta Ltd posted a 41% drop from a year earlier in June quarter net profit at ₹3,308 crore amid lower commodity prices and higher finance costs. Earnings before interest, taxes, depreciation and amortization (Ebitda) fell 35% to ₹6,975 crore with an Ebitda margin of 24% during the quarter. In a post-earnings interview, Sunil Duggal, chief executive at Vedanta said, “Fundamentally, these commodities have a very strong footing...

BofA upgraded shares of Consolidated Edison (NYSE:ED) to Buy from Neutral, lifting the price target from $92 to $103 in a note to clients on Friday.

AI to boost productivity is vast, whether it's automating customer service interactions or accelerating drug discovery. A McKinsey report, The Economic Potential of Generative AI: The Next Productivity Frontier reveals that 63 generative AI use cases could add the equivalent of $4.4 trillion in value to the global economy, and 75% of the value would arise from the four areas: customer operations, marketing and sales, software engineering and R&D. However, the emergence of foundational models could lead to capital concentration, potentially amplifying inequalities.

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Crypto exchange Binance’s venture capital arm – Binance Labs – has invested $10 million in Radiant Capital, a marketplace for providing liquidity and borrowing cross-chain assets.

NEW YORK (Reuters) — Investors poured $3.6 billion in fresh money into global hedge funds in the second quarter, data provider HFR said on Friday, helping drive the industry's assets up.

By Steve Scherer

₹87 crore for the June 2023 quarter on higher revenue, the firm said in a stock regulatory filing. The firm's revenue grew 13 percent year-on-year to ₹512 crore in the reporting quarter, from which it earned a margin of 29.6 percent.

It’s important to file your tax return on time, whether you’re an individual taxpayer or filing on behalf of your corporation. Failure to file your return on time can lead to late-filing penalties and arrears interest, charged at the prescribed rate for underpaid taxes, which is currently at nine per cent per annum, compounded-daily — and is not tax deductible.

Virat Kohli is the 10th player in the history of cricket to play his 500th match and the remarkable ton he made is special for more than one reason. The 100 is his first overseas since 2018 as the player went through a tough phase during 2020-21.

HSBC has hired the former Asia team Silicon Valley Bank as it continues to bolster its new innovation banking business with the remnants of the collapsed lender’s people operations.