Provident Financial News

—Name withheld on request 

Having been introduced on May 1, 2009 for all citizens of India; National Pension System (NPS) has recently completed 15 years of its existence.

HDFC Bank spends 6-7 per cent of its overall expenses on technology-related aspects every year, a senior official said on Tuesday. Parag Rao, HDFC Bank head for payments and consumer finance, said the bank has been investing in digital capabilities amid "cloudification", where tasks are moved to the cloud. The comments come amid greater regulatory scrutiny on the technology front. «We spend about 6-7 per cent of our overall expenses on technology,» he told reporters here on the sidelines of a digital credit card launch of the bank.

NEW DELHI : Nigeria’s decision in February to devalue its currency for the second time in eight months as part of what are seen as market-friendly reforms have ended up severely hurting Bharti Airtel Ltd. Factoring out its African operations, however, India’s second-largest telecom services provider rang in improved financials for the March quarter, as it added nearly 8 million new subscribers while reducing customer churn. Bharti Airtel reported foreign exchange losses of ₹2,544 crore from its African subsidiary, which contributed to dragging down its fourth-quarter consolidated profit by 31% to ₹2071.6 crore.

H.E. Dr. Noura Khamis Al Ghaithi, Undersecretary of the Department of Health – Abu Dhabi

Canada’s broadcasting regulator has granted Corus Entertainment Inc.’s request to ease some of its Canadian content spending requirements after the company warned of an increasingly dire financial situation.

MUMBAI : Homegrown private equity firm ChrysCapital is set to invest up to $100 million in New Delhi-based Centre for Sight for a “significant" minority stake in the eyecare chain. As part of the transaction, ChrysCapital will purchase the entire stake held by Mahindra Holdings Ltd, a wholly owned subsidiary of Mahindra & Mahindra Ltd, in Center for Sight. Mahindra Holdings had invested in the eyecare chain in 2019.

Exposure to more fee-based revenue from the acquisition of HSBC’s Canadian franchise is likely to boost Royal Bank of Canada’s performance relative to other domestic banks when they begin releasing second-quarter earnings next week, according to analysts at Jeffries Securities Inc.

ChatGPT creator OpenAI announced the launch of GPT-4o, its newest flagship model, during a livestream on Monday. Chief technology officer Mira Murati described GPT-4o as «much faster» and «improves capabilities across text, vision, and audio». Also, the model will be accessible to all users. What does the ‘o’ signify in GPT-4o?

Aam Aadmi Party (AAP) has acknowledged the reported assault on its Rajya Sabha MP Swati Maliwal by Delhi Chief Minister Arvind Kejriwal's personal assistant Bibhav Kumar. The party stated that Delhi CM has taken cognizance of the incident, ensuring appropriate action will follow. The incident, which occurred at Arvind Kejriwal's residence, saw two complaints filed with the Delhi Police concerning an alleged assault on AAP MP Swati Maliwal. The accused, Bibhav Kumar, reportedly obstructed Maliwal from meeting Kejriwal, particularly during the chief minister’s engagement in the excise police case. Maliwal visited the Civil Lines Police Station but refrained from filing a formal complaint. Who is Bibhav Kumar, known as «Kejriwal’s Man Friday»? Bibhav Kumar, a former video journalist, has been associated with AAP leader Arvind Kejriwal since the early 2000s. He initially worked as a video editor for a magazine associated with India Against Corruption, which later transformed into AAP. Over the years, Kumar has become an integral part of Kejriwal's inner circle, assisting him with daily tasks and serving as a trusted aide.

Razorpay has introduced a new employee health insurance policy, under which coverage will be provided to employees’ siblings as well as for vital treatments like those for HIV/AIDS. The policy also extends support to conditions such as polycystic ovary syndrome, addressing a broad spectrum of healthcare needs. It will allow employees of the omnichannel payments and banking platform for businesses to customise their health insurance plans according to their individual needs, including defining their own families and encompassing live-in or LGBTQIA+ partners as spouses.

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, crossed the ₹5,000 mark in today's trade to hit a new all-time high of ₹5,045 apiece by gaining 3.2%. The stock's surge today has propelled it to achieve a 93% gain over the past year and 105% increase over the past two years. Starting from its low of ₹2,146 per share in March 2022, the stock is currently trading at a remarkable 134% increase.

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demat accounts will take place today, Tuesday, May 14. The process of refunding those who have not yet received their shares will likewise be completed today. TBO Tek IPO registrar is Kfin Technologies Ltd.

Small-cap stock below ₹50: According to the latest market data, Gujarat Toolroom shares have been in an uptrend since the early morning session on Tuesday. Today, the share price opened upside at ₹24.12 apiece on BSE and touched an intraday high of ₹26.29 apiece on BSE.

Stocks to buy: In the aftermath of the recent downturn in the Indian stock market, many quality stocks, despite their strong fundamental and technical perspectives, experienced profit-booking. This situation presents an opportunity for investors, as these stocks are expected to generate alpha returns when the Indian stock market bottoms out.

OpenAI unveils GPT-4o, a faster, more efficient and smarter AI platform: All you need to know GPT-4o is said to match the performance of GPT-4 Turbo in English language text, OpenAI's last flagship model unveiled last year, while offering significant improvements in non-English languages. Moreover, GPT-4o has a more wider advantage over its predecessor when it comes to understanding vision and audio inputs. Also Read | OpenAI Unveils GPT-4o: Here's how the Internet reacted to the AI conversation OpenAI President Greg Brockman showcased in a video on Monday how two GPT-4o AI's are capable to having a conversation in real time.

MUMBAI : In a first-of-its-kind move, Tata Play, India’s leading direct-to-home (DTH) company, has partnered with Amazon Prime to enhance the offerings for Tata Play DTH and Tata Play Binge subscribers by providing expanded access to Prime Video's extensive online content library. Under this partnership, Tata Play will make offer Prime Lite subscription packages through its DTH as well as Binge packs.

The number of new Runes etched on Bitcoin daily has experienced a drastic decline, falling below 250 for the past six days.

UPL, a leading provider of agricultural solutions and services, slumped 6% in today's intraday trade, reaching ₹501.65 apiece. This downturn came after the stock saw a strong surge in the last two trading sessions, driven by the anticipation of favorable financial results from the company. In the fourth quarter of FY24, the company recorded revenue of ₹140.8 billion, marking a 15% year-on-year decline.

₹239 crore from Southern Railway on Monday. Rail Vikas Nigam Ltd (RVNL) said in an exchange filing that it has got an order to provide an automatic block signalling system from Jolarpettai Junction to Erode Junction of the Salem Division of the Southern Railway. The order is to be executed within 12 months.