Provident Financial News

video capture technology, empowering creators with professional-grade controls previously unavailable on iPhone's native apps. Users can now harness features like remote direction of multiple video angles, made possible through seamless wireless connectivity between up to four devices running the app.Key functionalities include adjustable settings such as shutter speed, ISO, white balance, and manual focus, providing unprecedented flexibility directly from the iPhone or iPad.

The number of RIAs reached a new record high in 2023, with 15,396 registered with the SEC, up from 15,114 in 2022 which was the previous all-time high.  It was the 12th consecutive year of growth.

The Fantom Foundation, the driving force behind the Fantom decentralized network, has committed to support the launch of Sonic, a new and faster network.

Infrastructure investment trusts (InvITs) are enjoying immunity from insolvency proceedings and should be brought under the Insolvency and Bankruptcy Code, a top official from SBI said on Friday. Ashwini Kumar Tewari, the managing director of the bank, said lenders need the assurance of being able to recover their dues from InvITs in case of a default and added that they are in touch with the Reserve Bank and the government on the same. «We need to bring these trusts, which are bankruptcy remote, within the purview of the IBC because that will go a long way in giving us the assurance that this is like any other asset,» Tewari said, addressing an NBFC event organized by industry lobby Assocham here. He elaborated that at present, the primary responsibility of an InvIT or a special purpose vehicle under it is towards the trust holders and there are «gaps» which need to be filled.

The annual Canada Day parade has been cancelled in Montreal this year just two weeks before the event, citing excessive bureaucratic hurdles with the city administration.

India reiterated its stance on the Dalai Lama's position, emphasising his «revered» status and the respect accorded to him by the Indian people. «I would like to reiterate India's position on His Holiness Dalai Lama. He is a revered religious leader and is deeply respected by the people of India. His Holiness is accorded due courtesies and freedom to conduct his religious and spiritual activities,» stated Randhir Jaiswal, spokesperson for the Ministry of External Affairs (MEA). Jaiswal's comments came, during a weekly briefing, in response to queries regarding India's stance on the succession of the Dalai Lama, highlighting the spiritual leader's significant role in India's cultural fabric.

Thermax, a leading energy and environment solutions provider, have been on an upward trend over the last seven months, producing a stellar performance and significantly enhancing shareholder wealth in a relatively brief timeframe.During this period, the company's shares have grown from ₹2,533 apiece to the current market price of ₹5,061, resulting in a gain of 100%. Notably, the company finished 6 out of 7 months in positive territory, with December witnessing the largest monthly gain with a return of 22%.

Pine Labs Pvt, an Asian digital payments provider backed by Peak XV Partners and Mastercard Inc., is considering raising about $1 billion in an initial public offering in India, people familiar with the matter said, amid increasing investor appetite in the nation’s stock market. The company may seek a valuation of more than $6 billion in an IPO, the people said, asking not to be identified because the matter is private. Pine Labs may issue both new and secondary shares, they said. It could also opt to do a pre-IPO fundraising round ahead of any listing, two of the people said.

granted bail to Chief Minister Arvind Kejriwal on Thursday, citing insufficient evidence and potential bias in the Enforcement Directorate’s (ED) investigation into the alleged money laundering case, in a 25-page order that was released on Friday. Special Judge Niyay Bindu of the Rouse Avenue Court highlighted the lack of clear evidence linking Kejriwal to the crime and questioned the ED’s investigative methods. The court noted the ED’s failure to demonstrate how the alleged proceeds of crime were used in the 2022 Goa assembly elections by the Aam Aadmi Party (AAP). The judge pointed out that only Rs 40 crore of the alleged Rs 100 crore had been traced, with no timeline provided for locating the remaining amount. «ED has failed to clarify as to how much time is required for tracing out the complete money trail,» Judge Bindu remarked, emphasising that Kejriwal's prolonged detention without substantial evidence was unacceptable.

lower taxes for individuals to generate demand and spur consumption besides seeking low-cost finance, subsidies and benefits on land rates and necessities such as electricity for retailers ahead of Union Budget FY25. Retailing in India accounts for about 10 per cent of the country's GDP and the sector is second only to agriculture in terms of the number of people directly employed, RAI said in its pre-Budget memorandum highlighting areas that need attention in order to make the industry stronger. «To ensure the growth of the sector, the Union Budget for FY25 should focus on generating demand and spurring consumption by offering benefits or concessions in the form of lower taxes,» RAI said. It will boost the overall consumer sentiment and benefit the retail sector, it said adding, consumption equals to development and the «tax benefits and relief to individual taxpayers will increase the monthly disposable income and support consumption».

global expansion (including acquisitions) are among the objectives cited behind Oyo's latest fund raise and increasing its authorised share capital, as per the regulatory documents seen by ET. ET reported on June 20 that Oyo has received shareholder approval for raising Rs 416.85 crore through preference shares in an extraordinary general meeting (EGM) held on June 18. The shareholders also gave their nod to increasing Oyo's authorized share capital from Rs 901.14 crore to Rs 1,341.14 crore.

Union Budget 2024: Any political party that forms the government, with majority or in coalition, in India has a set of responsibilities towards society, politics, and the economy. It is especially essential to relocate with resources in a way that allows a country that is as diverse as India, with its rich cultural, religious, and economic tapestry to move ahead in the right direction. Uplifting underprivileged sections of society, ensuring financial inclusion, reducing regional disparities, strengthening defense capabilities, providing quality education, and much more are part of the government’s long list of work that is voted for. Thus, a well-planned budget is of utmost importance for any government to achieve economic stability and growth.

Budget 2024: Every year, the Department of Economic Affairs in the Ministry of Finance prepares the Union Budget, which is then presented by the Finance Minister. The Budget which is tabled annually serves as a financial plan for the country and lays out the estimated earnings and expenditures of the government for the upcoming fiscal year. Here are the five essential steps involved in the formation of the Union Budget: Initial Processes: The process begins around six months before the Budget is presented. The Finance Ministry issues Budget Circulars to relevant ministries and departments with necessary instructions and guidelines. These circulars are then distributed among disbursing and field officers, who share details about their department's financial expenditures and receipts for the current and past fiscal year, as well as their financial requirements for the upcoming fiscal year.

“A loan, though old, is not a gift" is an old Hungarian saying. This is especially apt in today’s digital age where even a minute delay is reported into the system and is remembered by lenders and others for a very, very long time.

Rahul Jain, Vice-President -Research, Dolat Capital, says that Accenture’s improved order book is led by them providing the right solutions which the clients are needing. So, essentially, this is led by their own effort and there is not much of a change in the environment. Probably that’s why despite a very strong order book they did not comment anything beyond the current fiscal in terms of qualitative or quantitative aspect. What does the lowered revenue guidance by Accenture suggest to you about the company and the sector? What is your reading? Rahul Jain: Apart from the results, we also followed the commentary in the earnings call and what they are trying to indicate – the one positive data that came out was from an order book perspective, but management was clear that there is no change in the discretionary demand or overall client sentiment in terms of their spending. But this order book is led by them providing the right solutions which the clients are needing.

Green finance is one of the most fundamental requirements to make MSMEs more climate-friendly. Many small and medium businesses face challenges in raising capital to run and expand their businesses. So their challenge becomes steeper when it comes to raising funds to invest in cleaner technologies, energy efficiency upgrades and sustainable business practices. But now, fintech is working on developing innovative solutions for MSMEs to make the transition to greener processes. Register for the ET MSME Day 2024 here.

dollar rose to a seven-week high against the yen on Thursday, while the sterling and euro fell amid on the U.S. economy is coming off the boil while traders watch for more data bolstering the case for a Federal Reserve rate cut this year. May retail sales released this week were tepid and the labor market appears to be weakening. The number of Americans filing new claims for unemployment benefits fell last week, but was still more than expected, data released on Thursday showed, indicating the jobs market remained strong despite a gradual cooling.

Burman family said: «We remain committed to completing the Open Offer in the interest of public shareholders of Religare Enterprises Ld.» In response to the Sebi order, a Religare spokesperson said: «As per Sebi's advisory the company will apply for the fit and proper status of the acquirers for the open offer to the concerned regulators including the RBI.»

Budget 2024 FAQs: The Budget serves as a comprehensive blueprint detailing the government's projected income and expenditure for a fiscal year, spanning from April 1 to March 31 of the following year. This financial roadmap plays a crucial role in outlining the nation's economic priorities and resource allocations. To enhance accessibility and understanding, a user-friendly guide for interpreting the Budget document is readily available. Following the finance minister's budget speech in the Lok Sabha, these critical documents are swiftly published on the official website, ensuring rapid and widespread dissemination of essential financial information. The budget that will be presented in coming month will be Prime Minister Narendra Modi-lef government's first presentation after forming government.

Vande Bharat train is in the news again, but this time for the wrong reasons. According to reports, a couple traveling on the Vande Bharat train found a cockroach in their meal on June 18. The nephew of the couple, who were traveling from Bhopal to Agra, shared pictures of the dal in which the bug was found on social media. Following this, the Indian Railways Catering and Tourism Corporation (IRCTC) took action and imposed a fine on the service provider. The issue was raised by a user named Vidit Varshney on social media. He complained about the poor quality of food served to his uncle and aunt on the train. «On 18-06-24, my Uncle and Aunt were traveling from Bhopal to Agra in Vande Bharat. They got 'COCKROACH' in their food from IRCTC. Please take strict action against the vendor and make sure this does not happen again,» Varshney posted.

YES Bank, Aster DM Healthcare, ONGC, IndiGo, Bank of Baroda among others will be in focus due to various news developments. YES Bank The Board of YES Bank will meet on June 25 to consider and approve a fundraising proposal through issuance of debt instruments.