Provident Financial News

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

investors, fatigued by waiting, are now compelled by frustration—perhaps even desperation—to dive into the market. The disciplined patience that kept them at bay has given way to an urgency to join the action. Who are these investors? (Note: I’m generalizing here.) They are typically drawn to stocks that are already in motion, the market's hot favourites.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Nilesh Shah, MD, Kotak AMC, asks how can we become wealthy with an asset allocation where 93% of savings is not going to deliver real return. Of course, there are complexities and there is worry. But while investing in risk-taking assets like equities, bonds, debentures, and mutual funds, take guidance from experts. With their advice and support, one will be able to invest for real return. So, invest for real return, even though it means taking some risk. What kind of change have you seen in your personal, and professional life that is reflected in India so far as India celebrated its 78th year of independence? Nilesh Shah: My father died very early when I was very young and my mother was always dependent on me for her retirement. She never had enough savings and she was always spending to make us study and help us grow. Hence, she is dependent upon me as her retirement solution. But I can proudly say I have done my retirement solution through my money. That is the change I want to see in every Indian.

A dual U.S.-Russian citizen has been sentenced to 12 years in a Russian prison for treason after authorities learned she donated just over $50 to a charity supporting Ukraine.

Americans stepped up spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates

assistant and two doctors have been charged in connection with Matthew Perry's death in what prosecutors called a «broad underground criminal network» dedicated to getting the «Friends» star the powerful surgical anesthetic that killed him. The doctors preyed on Perry's history of addiction in the final months of his life last year to provide him with ketamine in amounts they knew were dangerous, U.S. Attorney Martin Estrada said as he announced the charges Thursday. «They knew what they were doing was wrong,» Estrada said. «They knew what they were doing was risking great danger to Mr. Perry. But they did it anyway.»

₹1,000 crore) in its latest funding round led by existing investor WestBridge Capital, taking the valuation to $1 billion and making it one of India’s freshest unicorns. It recorded revenues of ₹497 crore in the fiscal year ending March 2023, while its Gross Merchandise Value (GMV) grew to ₹2520 crore in the same period, a number that has increased 3X in the current fiscal year as per valuation reports. A few features set Rapido apart—it runs on a subscription model for its driver partners or “captains" instead of the more prevalent commission model, where the platform takes a commission on each ride.

Federal authorities say new efforts to convert some types of commercial fishing to ropeless gear that is safer for rare whales will be supported by millions of dollars in funding

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

Airtel and the sale of some capital assets by associate Globe Telecom. Singtel's net profit rose 42.9% to S$690 million in the first quarter ended June 30 from S$483 million a year ago, Southeast Asia's largest telecom provider said on Thursday. The exceptional gain came as Singtel reduced its effective stake in Airtel to 28.7% from 28.9%.

JP Morgan Asset Management is looking to extend its leadership in the active ETF space as it appoints Travis Spence, a long-tenured leader within the organization, as its new global head of ETFs.

Ricky Ponting reckoned that Joe Root could surpass batting legend Sachin Tendulkar's tally of runs in Test cricket, provided the England batting mainstay stays 'hungry' and keeps scoring at a consistent rate for the next four years. Root became only the seventh batter in the history of the conventional format to cross the 12,000-run mark — a feat he achieved recently during the Edgbaston Test against the West Indies. With 12,027 runs in 143 Tests at 50.11 with 32 centuries and 63 fifties so far, Root is also overall the seventh highest run-scorer in Tests and could overtake Sri Lanka's Kumar Sangakkara (12,400 runs) and his former teammate Alastair Cook (12,472) soon. Tendulkar leads the table with 15921 runs from 200 Tests.

Niti Aayog has proposed that the government formulate guidelines for assessing the creditworthiness and background verification of those availing of loans under the Pradhan Mantri Mudra Yojana (PMMY), besides putting in place a reward mechanism to incentivise lending institutions to increase the scale of lending. «A set of guidelines for assessing the creditworthiness and background verification must be enlisted to provide a security net to the banks, considering the loans are collateral free and a proper risk check and assessment has a critical role to play in the sustainability of results and success of the scheme,» the Aayog has said in its report submitted to the finance ministry and the Ministry of Micro, Small and Medium Enterprises (MSMEs). As per the report, 'Assessment of PMMY', done by professional services firm KPMG on behalf of the Niti Aayog, e-KYC authentication may be encouraged for loan underwriting to ensure proper assessment checks. ET has seen the report. «A proper reward mechanism is needed for different banks based on their scale of operation and performance to help incentivise well-performing member lending institutions to perform better,» the Aayog has suggested.

The first half of 2024 has seen assets serviced by NewEdge Capital Group soar to more than $55 billion.

Two TAMP providers have just joined forces to help RIAs provide a new level of diversification within their clients’ portfolios.

Ola Electric's S1 X is one of the most popular electric scooters in the country. It comes equipped with a 4 kWh battery and boasts a top speed of 85 km/h. The scooter can accelerate from 0 to 40 km/h in just 4.1 seconds and reaches 60 km/h in 8.1 seconds.

Avantax, the tax-oriented financial planning and wealth management firm under Cetera, continues to demonstrate its appeal for planning-focused advisors as it adds a seasoned professional from LPL.

Indian Army contingent on Thursday celebrated the 78th Indian Independence Day in joint exercise 'Mitra Shakti' with various activities, including a yoga session with their Sri Lankan counterparts. As part of the Independence Day commemorations, the Army troops participating in the Joint Exercise enthusiastically celebrated the day by practising various asanas led by Yoga instructors from the Indian Army contingent. The troops of the Indian Army contingent also undertook the 'Har Ghar Tiranga' campaign at their camp in the Army Training School in Madurouya, Sri Lanka, according to an official statement. «The Tricolour was proudly displayed by the participants, honouring the national pride of all Indians. The effort reflects the pride the Indian Army attaches to the Tricolour, for which every soldier has proudly made the supreme sacrifice over the years,» the statement said.

This approach is intended to ensure that students acquire relevant skills for a competitive job market. There's also a concerted push to promote STEM education and digital literacy, equipping our young with tech competencies increasingly valued in today's job market. Entrepreneurship is gaining traction as a viable career path, with 14.1% of young Indians (5.9 cr) opting for self-employment. The budget addresses this trend by proposing additional startup incubators be established. These incubators will provide mentorship, networking opportunities and access to resources crucial for new businesses to thrive. Also announced was access to credit being eased by simplifying loan applications and reducing financial barriers.

Congress on Thursday questioned the government, particularly the Ministry of Defence, for not providing a seat to Rahul Gandhi in the first row at the Red Fort Independence Day event despite him being the leader of opposition in the Lok Sabha. While Congress MP Vivek Tankha said Gandhi was seated in the «fourth row», Congress spokesperson Supriya Shrinate later alleged that the Modi government showed «its pettiness and lack of respect for democratic conventions» by seating LoP Gandhi in the «fifth row». A couple years ago, when the party had questioned the government after LoP, Rajya Sabha, Mallikarjun Kharge was similarly seated during the Independence Day event, the ruling side responded by citing the order of precedence in protocol and the precedents from the past regimes.