Provident Financial News

World Bank President Ajay Banga to increase investment in climate projects. "We are heartened to see that you recognise the urgency of this problem and hope that the bank will lead a coordinated and robust response to these challenges," the lawmakers said in a letter to Banga on Wednesday.

currency swap and trade agreements, easing of rules for foreign portfolio investments in government bonds and permitting rupee accounts outside India could boost acceptance of the local currency for cross-border trade as India seeks broader overseas acceptance for its money. «Sufficient incentives are not present for the settlement of trade transactions in INR… there is a need for a review of the extant FEMA provisions as well as for extending incentives for international trade settlements in INR,» an inter-departmental group of the central bank said in a report.

debt markets for environmentally friendly projects than they are for fossil fuels. Almost $350 billion was raised from green bond sales and loan arrangements in the first half of this year, compared with less than $235 billion of oil, gas and coal-related financing, according to data compiled by Bloomberg. The ratio was roughly $300 billion green versus $315 billion fossil fuels in the same period last year.

DigiLocker. So could be Employees’ Provident Fund Organisation statements and Mahatma Gandhi National Rural Employment Guarantee Act job cards, as the government’s online document repository is up for a major expansion. “Documents of income tax returns, EPFO statements, and MGNREGA job cards will soon be available on DigiLocker… Making passports and voter IDs available is also a work in progress,” a government official told ET.

«Almost all participants judged it appropriate or acceptable to maintain the target range for the federal funds rate at 5% to 5.25%,» minutes from the June 13-14 meeting said. «Some participants indicated that they favoured raising the target range for the federal funds rate 25 basis points at this meeting or that they could have supported such a proposal.» Officials supporting a hike cited tight labour markets and relatively few signs that inflation was slowing toward the 2% goal.

Infosys and HCLTech may also trim the upper end of their revenue guidance range for the ongoing fiscal 2024, and the recovery predicted by the IT companies for the second half of the fiscal year is likely to be subdued, they said. The average of five analyst estimates collected by ET suggests Tata Consultancy Services, Infosys, HCLTech and Wipro to report a 0.35% increase quarter-on-quarter revenue for the quarter ended June 30, excluding changes in currency rates. The three months ending June 30 is usually considered a strong quarter for the sector.

DBS is the first foreign bank in China to embed the CBDC into its merchant payments portfolio, processing transactions and providing consolidated merchant reports with itemised e-CNY transactions via its business banking platform DBS Ideal.Ginger Cheng, CEO of DBS Bank (China), says: "We received strong interest from several clients for the solution since its launch, and we are pleased to have completed the first e-CNY collection for a client - a catering company in Shenzhen. By seamlessly integrating a CBDC collection and settlement method into our clients’ existing payment systems, this will help position their business for a digital future where consumers in China use e-CNY for their daily activities."e-CNY usage in China has grown steadily since its pilot launch in April 2020.

Dust, the building block for many things in our universe – planets in particular, has puzzled astronomers for several decades. As dust from dying stars spreads through space, it carries essential elements to help give birth to the next generation of stars and their planets. But, where the dust comes from? A recent discovery by researchers has made major strides in confirming the source of dust in early galaxies.

When Washington Post correspondent Jason Rezaian was released from Iran after 544 days of imprisonment, he said his welcome home came with bills of $20,000 for unpaid taxes, late payment penalties and interest. Rezaian had given his brother power of attorney to manage his affairs while he was abroad—but that power didn’t allow his brother to submit tax returns on his behalf. “There was no pause button for wrongful detention," Rezaian said.

Stranger Things, titled The First Shadow. Although the trailer does not reveal much about the plot, it features snippets from the early episodes of the popular TV series, followed by a dramatic shattering of the screen and the emergence of a mysterious red, glowing orb on the stage of an empty theater.

Reserve Bank of India (RBI) is proposing that banks and card network providers like Mastercard, Visa and American Express cannot get into exclusive arrangements that curb competition and put the consumer at a disadvantage.Card issuer banks will henceforth have to issue cards from more than one network provider and will have to provide an option to customers to choose any one among the multiple card networks, RBI said in a draft circular. The central bank said that existing arrangements between card networks and card issuers (banks and non-banks) are not conducive to the availability of choice for customers. It has called for public comments by August 4 and set October 1 as the date to implement the circular.

Excitement continues to build as Swift also announced that Paramore will be joining her for the European leg of the Eras tour. This revelation adds to an already jam-packed schedule, including stops in various cities such as Paris, Stockholm, Amsterdam, and Vienna. While fans eagerly anticipate the tour, rumors suggesting that Swift might grace the stage at the renowned Glastonbury festival have been quashed with the announcement of these additional shows. Previously, there were gaps in her schedule that aligned with the festival's 2024 edition, fueling speculation. However, with her newly scheduled performances, it appears that Swift's involvement at Glastonbury is no longer a possibility. The announcement has left hundreds of thousands of UK fans eagerly awaiting presale codes for the tour. These fortunate individuals hope to secure their tickets ahead of the general sale. They have until July 14 to finalize their preferred show before tickets become available to the public on July 18 this year. It is worth noting that 33-year-old Swift's popularity remains unparalleled, as her US shows sold out within minutes despite the availability of multiple dates in nearly every region of the country. Swift's dedicated fan base ensures that her performances are highly sought-after, contributing to the remarkable success of her tour. Overall, Swift's decision to add extra shows in the UK reflects her commitment to providing her fans with memorable experiences. As anticipation mounts, music enthusiasts are eagerly preparing to secure their tickets for what promises to be an extraordinary tour.

A growing number of technology providers are pricing their products and services based on a promised outcome rather than charging customers set subscription fees or on a per-user basis. While still far from the norm, the uptick in such pricing models has put pressure on those vendors to offer more flexible pricing options to attract and retain increasingly budget-conscious customers, analysts say.

Brian Christopher lost $300,000 gambling on slot machines in casinos last year. Hundreds of thousands of people cheered him on, from the comfort of their own homes. Several times a week, Christopher takes a seat at the slots and livestreams his play on YouTube and Facebook.

Denmark’s Financial Supervisory Authority (FSA) has directed Saxo Bank, a Copenhagen-based multi-asset broker, to dump its cryptocurrency holdings.

Barbie," directed by Greta Gerwig. Vietnam recently announced its decision to bar the film's commercial release due to a disputed depiction of China's territorial claims in the South China Sea, known as the «nine-dash line.» The Philippines, along with Vietnam, Brunei and Malaysia, has its own territorial claims in the South China Sea and strongly rejects China's assertion of sovereignty over the entire region. Senator Francis Tolentino, vice chairman of the Senate foreign relations committee, stated that if the invalidated nine-dash line was indeed portrayed in the movie, it would denigrate Philippine sovereignty.

India's Deputy National Security Advisor Vikram Misri is in Iran with an aim to promote freight transit through the International North-South Transport Corridor (INSTC) and extend the usage of Chabahar Port, India's first foreign port project. Iran is a key partner in India's extended neighbourhood and Misri's visit coincides with the country's entry into the Shanghai Cooperation Organisation (SCO).

New Delhi: Goods and Services Tax Network (GSTN), the company that processes GST returns may put more tax data related to geography and industry in the public domain, industry body Assocham said in a statement quoting chief executive of GSTN Manish Kumar Sinha.  A committee is deliberating on placing more data in the public domain which will provide more insights on geography and industry specific information based on GST data, the statement said quoting Sinha speaking at an event.   Granular data on GST will give insights into which are the geographic locations that are exporting, consuming and engaging in inter-state trade of different products and services. This could prove to be immensely useful to businesses in planning their operations and logistics arrangements.

The Reserve Bank of India (RBI) on Wednesday proposed restraining card issuers, such as banks, from entering into exclusive arrangements with card networks that forbid them from tapping rival networks. The regulator said it has found that arrangements between card networks and issuers are not “conducive to the availability of choice for customers". RBI also said card issuers should issue cards across more than one card network and provide customers with an option to choose any one among the multiple card networks.

NEW DELHI : India has initiated talks with the Association of Southeast Asian Nations (Asean) to address concerns over the rules of origin and trade imbalance. The move is part of ongoing efforts to renegotiate the trade agreement following a significant increase in the trade deficit with the 10-member block. In FY23 alone, the trade gap ballooned by 70% to reach $43 billion, according to a government official familiar with the matter.

₹400 crore had been booked or pre-booked by retail passengers. But they could not take Go First flights as operations have been suspended at the moment." The Delhi Bench of the National Company Law Tribunal (NCLT), which is hearing the airline’s insolvency petition, has taken note of the passenger compensation issues as well. “It has come to our notice that a large number of passengers are sending email requests/phone calls for refund of booked/cancelled tickets in the case relating to Go Air," the tribunal said on Monday, advising passengers to contact Shailendra Ajmera, the company’s resolution professional, to submit their claims.