Provident Financial News

Mint website: In Indian real estate, senior living is still in the junior league. I read this article and quickly formed my opinion on this relatively untouched segment of the real-estate industry. While housing is being solved for by large players with deep pockets, there is an entire ecosystem of companies in the senior-living market.

₹50 lakh, and projects in the non-farm service sector that cost up to ₹20 lakh. Under this scheme, a credit guarantee is provided to micro and small enterprises for loans up to ₹5 crore without collateral or a third-party guarantee, subject to certain limits. This programme aims to promote new enterprises, build capacity for existing MSMEs, and inculcate entrepreneurial culture.

As a retail investor, when you zero in on an investment option, you are likely to have a key goal of wealth creation and of ensuring the safety of funds in the long run.

₹250 crore momentum fund, with a greenshoe option, to invest in high-performing portfolio companies. "We plan to invest in 15-20 high-potential companies from the LC Nueva Fund. These companies have demonstrated exceptional growth and have significantly enhanced their operating metrics," CEO and co-founder Shilpi Chowdhary told Mint in an interview.

MintGenie, Sharma said that the Government should chalk down a clear transition plan to move to the new tax regime with certain modifications that allow deductions on account of select investments.Individuals opting for the new tax regime cannot claim several exemptions and deductions, such as House Rent Allowance, Leave Travel Concession, Savings under 80C such as Employee Provident Fund (EPF)/ Public Provident Fund (PPF)/ Equity Linked Savings Scheme (ELSS), medical insurance premiums under 80D, National Pension Scheme (NPS) under 80CCD and many more. Given that the legacy tax system was developed to encourage investment planning to save taxes, many individual taxpayers are tuned to make those annual investments that are now not eligible for a tax break in the new tax regime.

Also Read: Income Tax Return filing: 60 days to go! A lowdown on the tax forms you can opt forCorrectly filing your ITR form is essential for several reasons. Below is a summary of the principal advantages:Accurate ITR filing ensures that you fulfill your tax obligations, receive any benefits to which you are eligible, and maintain excellent financial standing for many reasons.Also Read: ITR Filing FY24: 6 key points taxpayers must know as July 31 deadline looms largeYou are required to file a revised ITR form if you find any errors or omissions on your initial return.

₹25,586 crore, leading to a total outflow of ₹12,911 crore when considering debt, hybrid, debt-VRR, and equities, according to data from the National Securities Depository Ltd (NSDL). Despite this, FPIs maintained their status as net buyers in the Indian debt market, with total inflows amounting to ₹8,761 crore in May 2024.The selling in May also comes on the back of high volatility in the Indian market during the month. The benchmarks fell sharply in the first half of the month on the back of FPI selling, rise in US bond yields, and uncertainty of the election results.

To drive growth, India could focus on the export of services provided by its well-educated and skilled population. Though this cohort represents a small fraction of the total population, it still numbers in the tens of millions. Such a strategy would build on India’s strengths.

Mirae Asset Mutual Fund has filed a draft document with SEBI for regulatory approval to launch India's first Exchange Traded Fund (ETF) focused on the Electric Vehicles (EV) and New Age Automotive segment. Mirae Asset Nifty EV and New Age Automotive ETF will be an open-ended scheme replicating/tracking Nifty EV and New Age Automotive Total Return Index. This is the first ETF which is set to offer investors with long-term capital appreciation opportunities by investing in equity of companies that are at the forefront of the dynamic and rapidly evolving automotive sector thereby focusing towards sustainable development. The fund will track the newly launched Nifty EV & New Age Automotive Index, providing investors with a benchmark that truly reflects the innovative and forward-thinking nature of India's electric vehicle and new age automotive industry. The scheme will be managed by Ekta Gala and Vishal Singh.

Riyan Parag doesn't want to watch T20 World Cup 2024; netizens react, 'Thoda jyada hi attitude hai isme'More than the specifics of the WI vs PNG match, however, one issue that has taken centre stage is the lack of spectators at the Providence Stadium to watch their home team. Social media users were quick to lash out at the International Cricket Council (ICC), questioning how a World Cup opener in the host nation could have empty stands.What's even more surprising is that New York's Nassau Cricket Stadium, which is hosting an ICC event for the first time, was packed for both the USA-Canada match and the warm-up match between Bangladesh and India.Social media users had a number of stories as to why the stands were empty during the WI vs PNG match.

HealthCare Global Enterprises Limited (“HCG"),the leader in India in speciality healthcare services focused on oncology and fertility today announced its audited financial results for the quarter (“Q4")and full year ended FY24.Highlights for quarter endedMarch 31st, 2024INR million except earnings per sharePeriod ended Mar’24Q4-FY24Q4-FY23(1)Growth(y-o-y)4,9464,41712%94177821%19.0%17.6%92076321%18.6%17.3%282131115%5.7%3.0%21384154%4.3%1.9%1.50.6(1) Q4 FY23 includes Revenue & EBITDA from discontinued MSR operations, adjusted Revenue growth stands at 14% &EBITDA growth stands at 23%(2) Adjusted EBITDA excluding ESOPs and Onetime Expense(3) PAT after Minority InterestCommenting on the results,Dr. B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd.said,“We experience a deep sense of fulfilment to report a consistent benchmark-beating performance across all fronts for the quarter and the fiscal year ending FY24. Year after year, HCG has achieved sustainable cancer care outcomes comparable to premier centers in the world, thanks to our unique value-based care model and focused factory approach providing patients with the right treatment at the right time, using best in class talent, knowledge, technology, and infrastructure.Given the mounting incidence of cancer in recent years, India has prudently enhanced its cancer diagnosis and treatment processes in the guiding light of visionary crusaders like HCG. We prioritize a deep engagement in academics and research alongside an unflinching focus on patient outcomes. In the past year, we have made significant triumphs, including the successful completion if comprehensive genomic profiling for over 1,000 cancer patients, executing complex surgeries, and launching

mass rigging’ in the process for counting of votes in the Lok Sabha Elections 2024, claiming that the ‘Candidate’s Counting Agents’ would not be allowed at the Assistant Returning Officer’s (ARO) table for the first time. The Office of the Chief Electoral Officer of Delhi, however, responded to Maken’s allegation clarifying that the ‘Counting Agents’ are allowed at tables of Returning Officers and Assistant Returning Officers.

ACESO, a pioneer institution in providing innovative solutions for insurance policyholders, has launched ALIP (Assignment of Life Insurance Policies), a unique solution designed for LIC policyholders contemplating policy surrender or experiencing lapses. ALIP provides the opportunity to receive the Surrender Value of their endowment insurance policies, even while preserving their life cover benefits.

Since the number of air travelers has grown by leaps and bounds over the last few years, airlines, banks and credit card companies have been busy planning and executing products to gain customers in this space. Banks and credit card issuing companies could be seen competing with each other by launching innovative features on existing credit cards for flyers and offering exclusive credit cards. Among many other features, one of the most demanding and sought-after is complimentary lounge access for air travelers, as it enhances their travel experience and makes it comfortable and hassle-free.

A salary is typically regarded as the primary criterion for eligibility as banks and financial institutions typically prioritise income stability when evaluating credit card applications. This requirement of a regular income may deter many individuals such as freelancers, students, homemakers, or retirees from accessing credit card facilities. Yet, various methods and tailored solutions have now emerged to address this disparity in eligibility criteria.

Approaching a home loan in your retirement years might seem difficult, but it is possible. To enable senior citizens in India to become homeowners, it is essential to simplify the home loan procedures to accommodate their specific financial situations. Taking steps to customize loan terms, lower interest rates, and add flexibility to repayment choices can enhance accessibility to home loans for this particular age demographic.

Driven by economic growth, rapid urbanisation, increased individual earnings, and mounting interest in an opulent lifestyle, luxury housing in India is on a roll currently. Buyers now demand bigger spaces fitted with modern amenities and splendid architectural layout with meticulous design to ensure experiential living. And amid the rising demand, Delhi-NCR dominated the luxury housing Q1 launches.

Owning a savings account is a wise financial choice for several reasons. A savings account serves as the first step of your personal finance journey, providing you a secure place to deposit money while earning interest. Understanding how to manage a savings account effectively is crucial for financial stability and growth.

Central West Delhi is witnessing a significant transformation in residential preferences as more individuals and families transition from traditional builder floors and kothis to high-rise condominiums. This shift is influenced by factors such as enhanced security, superior amenities, and a community-oriented lifestyle. New real estate developers entering the area are keenly aware of these changing preferences and are designing their projects to cater to the evolving psychology of potential homeowners, focusing on providing comprehensive security, luxurious amenities, and strong community bonds through their condominium offerings.

Income tax return filing FY 2023-24: The deadline to file ITR for AY 2024-25 is July 31, 2024. Salaried individuals are waiting for their employers to issue Form 16, in a week or two. Once they receive Form 16, they will be in a position to file income tax returns easily. However, this document is not necessary to file an ITR if a taxpayer uses other documents like Form 26AS, Annual Information Statement (AIS) / Tax Information Summary (TIS), capital gains details, bank statements, home loan statement and interest certificates from banks.

Fixed deposit investors continue to enjoy the best period as banks continue to offer them sweet deals on deposits across tenures. In a fresh move, Unity Small Finance Bank has revised its interest rates on fixed deposits of amounts below Rs 2 crore.