Provident Financial News

Pradhan Mantri Awas Yojana (PMAY) Urban 2.0 plan over the next five years is expected to boost the affordable housing segment, allowing those migrating to cities for a livelihood to secure reasonable accommodation. PMAY-U is among the major flagship programmes being implemented by the government to provide all-weather pucca houses to all eligible beneficiaries in the urban areas. Under PMAY-U, more than 11.8 million homes have been sanctioned while nearly 9 million houses have already been constructed and delivered to the beneficiaries. “The nature of the housing scheme has changed in its new avatar. Government is using a wider mix of schemes ranging from interest subsidy to credit guarantee. While the quantum of interest subsidy per beneficiary has been scaled down, the government’s capital support will help a larger base of needy population. The government intends to do both — enhance its capital productivity and accelerate the ‘Housing for All’ timelines,” said Vivek Rathi, National Director Research, Knight Frank India.

On July 31st, 2024, Tokyo became the epicenter of crypto innovation as it hosted PlasmaCon, an event that brought together luminaries from the world of blockchain technology. Organized by INTMAX, the one-day conference centered around Plasma tech, exploring its potential as a scaling solution for Ethereum and delving into topics like privacy, statelessness, and the future of blockchain.

Revenue Minister Krishna Byre Gowda on Monday said that the state has recorded 58 deaths and crop damage in 80,000 hectares, due to «above normal» rains so far in the current monsoon season so far. More rains are anticipated in several parts of the state in the days ahead, and officials have been instructed to take precautionary measures, he said. «In the northern interior region, the average rainfall has been 260 mm, but this year it has received 322 mm, which is 24 per cent higher than normal. The Malnad region typically receives 1,127 mm of rainfall, but this year it has received 1,361 mm, 21 per cent higher than normal.

Bengaluru recently took to social media to highlight the plight of international travelers from India when their tickets are arbitrarily canceled by airlines. According to the woman, she had recently booked a Delhi-San Francisco flight, but Air India canceled it without notice and offered passengers the option to fly on a different date. When passengers objected, they were offered seats on an alternate flight with a 10-hour layover. The woman claimed that Air India refused to provide the passengers with tickets for a flight departing directly from Bengaluru.

Kotak Mahindra Bank on Monday said Sonata Finance Private Ltd and BSS Microfinance Ltd, both wholly-owned subsidiaries of the bank, at their respective board meetings have approved a scheme of amalgamation. As per the scheme of amalgamation approved on Monday, Sonata would merge with BSS Microfinance Ltd on a going concern basis, Kotak Mahindra Bank said in a regulatory filing. The scheme would be subject to the approval of the respective shareholders and creditors of Sonata and BSS and the approval of the concerned National Company Law Tribunal (NCLT) and other regulatory authorities, it said. The combined net worth of Sonata and BSS is less than 2 per cent of the net worth of the bank, as on March 31, 2024, it said.

Indian Railway and National Capital Region Transport Corporation (NCRTC) have collaborated to promote the 'One India — One Ticket' initiative, enhancing the travel experience for passengers on main line railway and Namo Bharat trains, a statement said on Monday. This collaboration aims to provide a seamless travel solution, making it easier for passengers to book and travel using both the Indian Railways and the RRTS services, it said. After booking an IRCTC train e-ticket, users can now opt to book a Namo Bharat train tickets for up to eight travellers per booking as an add-on service. The RRTS booking option will be displayed on the PNR confirmation page and will also be accessible from the user's train ticket booking history, the statement said. A unique QR code will be generated for each RRTS ticket and conveniently printed on the electronic reservation slip (ERS), it said.

Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...

RBI) has prohibited housing finance companies (HFC) from raising public deposits for more than five years, placed a ceiling on the quantum of deposits they can raise, and asked them to increase the share of liquid assets to 15% from 13% now in a phased manner. RBI on Monday said that public deposits accepting HFC can renew deposits after 12 months or more but not later than sixty months. It has allowed existing deposits with maturities above sixty months shall be repaid as per their existing repayment profile. Separately, RBI has directed non-bank finance companies to put in place a mechanism to provide nomination facility for depositors irrespective of customers demanding the service.

lawsuit accusing Google of unlawfully dominating web search on smartphones, but said the consumers should get another chance after a Washington, D.C. court separately ruled the tech giant spent billions to create an illegal monopoly. U.S. District Judge Rita Lin in San Francisco on Friday dismissed the consumers' antitrust lawsuit against Google, finding they had not provided enough factual evidence showing any harm from the Alphabet unit's market dominance. Lin said the plaintiffs could file an amended lawsuit, citing the D.C. court's blockbuster Aug. 6 ruling that found Google's exclusive contracts with Apple and other companies helped it create an illegal monopoly over search engines.

LPL Financial has kicked off its annual flagship conference, Focus 2024, which is set to be one of the largest gatherings of financial advisors globally.

Bitcoin miner Marathon Digital Holdings, Inc. (MARA) is raising $250 million via a debt offering to buy more bitcoin, as the company appears to be following the MicroStrategy (MSTR) playbook.

SpiceJet seems to be mounting as its engine lessors — Team France 01 SAS and Sunbird France 02 SAS — on Monday rejected its promoter Ajay Singh’s offer to pledge his personal shares, equivalent to the outstanding dues of $2.5 million, towards discharge of the airline’s liability. Senior counsel, Sandeep Sethi, appearing for Spicejet, told the Delhi High Court that Singh is willing to pledge his unencumbered shares towards discharge of the airline’s liability with the HC and the same can be encashed if it failed to pay till September 30. “We are not putting any conditions. The court can pass orders for immediate release if we don’t pay between now and September 30,” he argued. However, the lessors rejected the offer, saying they don’t want “pledge of shares of a company whose existence is shaky…The pledge is not acceptable. We have given them a long leash. We want our engines back. And we have been asking for disclosure of Singh’s assets since January,” senior counsel Raj Shekar Rao told a Bench of Justice Manmeet Pritam Singh Arora.

Staking in cryptocurrency has become one of the most promising ways to earn passive income within the crypto space. You earn rewards over time by simply locking up your digital assets, thanks to the Proof of Stake (PoS) consensus mechanism. If you are looking for the highest APY for staked crypto, you’re at the right place. We’re going to review some of the best available staking options at StakingBonus, one of the top platforms designed to make crypto staking safe, easy, and rewarding.

Elon Musk is due to interview Republican presidential candidate Donald Trump on the X social media network on Monday in an event that could inject more surprises into the turbulent U.S. presidential election. The interview, scheduled for 8 p.m. Eastern Time (0000 Tuesday GMT), could provide the former president an opportunity to seize the limelight at a time when his campaign is seen as sagging. His Democratic rival for the Nov. 5 election, Vice President Kamala Harris, has erased Trump's lead in opinion polls and energized Democratic voters with a series of high-energy rallies.

The market volatility we’ve seen over the past week and a half has been astounding. The VXX, an exchange-traded fund that tracks the VIX volatility index, rocketed higher as investors sold equity positions across the board, with more speculative assets such as U.S. tech and cryptocurrencies getting hit the hardest.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

NEW DELHI : Rockefeller Foundation-backed Global Energy Alliance for People and Planet (GEAPP) plans to support the development of 2 gigawatt hours (GWh) of cumulative utility-scale battery-energy-storage capacity, said Saurabh Kumar, vice president, India, GEAPP. In an interview, Kumar said GEAPP, in partnership with IndiGrid, is expected to commission the country's first commercial utility-scale project by the end of this year or the start of 2025. It would be set up in Delhi.

To date, Maruti Suzuki’s startup arm has evaluated over 3,000 startups, engaged with 88, explored multiple technologies, and onboarded 21 startups as business partners through commercial engagements. The initiative remains focused on fostering open innovation with startups worldwide, both domestic and international, to co-create an ecosystem where Maruti Suzuki can leverage deep tech and the latest technologies from across the globe.

Shares of Inox Wind zoomed to lock at an upper circuit of 20% to its fresh all-time high of Rs 209 after the company posted a profit of Rs 50 crore in the June quarter against a loss of Rs 65 crore in the corresponding quarter of the last year. The company's consolidated revenue rose 85% YoY and 16% QoQ to Rs 651 crore for the quarter ended June 2024. The consolidated EBITDA stood at Rs 157 crore for the said period, which is up by 349% YoY.

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