Provident Financial News

India has seen a dramatic increase in the number of investors applying for the EB5 Visa as an alternative to student visas and H-1B visas. According to the latest data, the number of EB5 Visa applications from India has surged from ~750 applications in 2019 to 10000+ applications in 2022. “The EB-5 program has seen a large resurgence of interest from India with the shorter adjudication times based on the new visa set-aside categories.

Future Group promoter Kishore Biyani has settled dues worth Rs 571 crore to lenders of Bansi Mall Management Company by making a one-time settlement of Rs 476 crore, a recovery of 83% for the creditors. The settlement was backed by realty developer K Raheja Corp., which acquired SOBO Central Mall. Earlier known as Crossroads, SOBO Central is the country’s first mall, having opened in late 1990s in south Mumbai's Haji Ali locality. The recovery from Future Group is a rare success story for banks who had suffered loan write-offs and losses in several cases previously.

Making Green Mobility Affordable for Everyone: Electric vehicles are becoming more diverse than ever, expanding beyond automobiles. ABZO Motors is at the forefront of this trend, with the ABZO-VS01, a sporty electric cruiser suited for city riding. To make this eco-friendly solution even more affordable, ABZO Motors is providing a flat INR 50,000 discount on the ABZO-VS01.

New Delhi: The government is planning to widen all bridges running across highways to make them as wide as the highways themselves. Narrowing road bridges across highways are often blamed for vehicles crashing through parapets and crash barriers.

₹15,000 to upgrade your viewing experience without breaking the bank? Look no further! In this guide, we'll explore the best TVs available. Ensuring you get the most out of your television without the need for expensive upgrades. Whether you're looking to access digital channels, record your favourite shows, or simply improve your TV's audio and video quality, there's a TV on this list to suit your needs.

Meta AI is its image generation tool, capable of swiftly producing realistic images from text prompts. Users can activate this function by entering '@MetaAI /imagine' followed by their desired text prompt, enriching the visual dimension of their conversations. Although Meta AI is presently accessible solely in the U.S., Meta assures users that it will provide valuable aid in diverse situations, such as offering suggestions, delivering entertainment, settling disagreements, and imparting knowledge.

BENGALURU : Elara India Opportunities Fund (EIOF), an entity registered out of the island country of Mauritius, was once big on Adani stocks. At the end of December 2022, it owned 1.6% in Adani Enterprises Ltd, 3.62% in Adani Energy Solutions, and 1.62% in Adani Total Gas Ltd. Elara has since pared its ownership in the Adani companies, but has been busy betting big on Indian small-cap stocks.

Uday Kotak of Kotak Bank shows THIS wild card as he warns to be ready for turbulence Two experts - Narendra Solanki of Anand Rathi and Chirag Shah of ICICI Direct - suggest the following six stocks to buy for the next 12 months. As per them, they can give solid double-digit returns in the next one year. Take a look: The company's management focuses on expanding to 4 million tonnes of capacity by the end of FY24 and 5 million tonnes by FY26.

Lok Sabha seat Upendra Kushwaha has voiced concern over farmers of his constituency in particular and Bihar in general not getting minimum support price and being vulnerable to middlemen. The Rashtriya Lok Morcha chief said the economy of my constituency in particular and Bihar in general is agriculture-based. Paddy, wheat and maize are the main crops. This area is called the rice bowl of Bihar. «My top priority is to ensure a better price for the produce of the farmers and also free them from the clutches of middlemen,» Kushwaha told PTI in an interview. «The NDA government at the Centre, led by Prime Minister Narendra Modi, has taken several steps to ensure the elimination of middlemen and to guarantee better prices for produce of the farmers. Steps have been taken to empower farmers and provide them with the benefit of modern technology. The NDA government gives 100 per cent guarantee for protection of the farmers' interests,» he said.

The right charger ensures that our devices charge quickly and safely, minimizing downtime and ensuring uninterrupted access to essential apps, services, and information. However, not all chargers are created equal, and selecting a good quality mobile charger is essential to prevent damage to our devices and ensure optimal charging performance. That’s why we bring you this list of high-quality USB Type A mobile chargers that offer fast-charging capabilities and advanced safety features.

«There used to be the provisions like general anti avoidance rules like GAAR, which required the investors like FPIs who are based in Mauritius need to have substance in Mauritius in order to claim the benefit of India-Mauritius tax treaty,» says Punit Shah, Partner, Dhruva Advisors. Let us talk about this treaty and this change that we are making. What is the impact that one should actually expect from this? Is it too much of a worry for investors from Mauritius? Essentially what it says is that India-Mauritius tax treaty was there for several years now. It provides capital gains tax exemption on the equity shares, on derivatives, on debt instruments. The treaty was amended in 2017 where the capital gains exemption on equity shares was taken away and the capital gains exemption on the derivatives and debt instruments did continue.

Two decades ago, India stood on the brink of the mobile phone revolution, and today, it has permeated every corner of the nation, with 90% of the population owning mobile phones. This surge in mobile phone adoption has not only transformed various industries but also catalysed the Digital India campaign launched in 2015, which significantly enhanced broadband connectivity even in remote regions of the country.

Playing with cryptocurrency is one of the main requests of modern players in 2024. This need of users began to be fulfilled last year by Bitz crypto casino, which opened last year.

Bitgert is one of the few coins in the crypto space with sustainable momentum. Despite the level of growth it has recorded so far, it is showing no sign of slowing down as the trading volume keeps accumulating.

Air India has operationalised five new contact centres, including in Cairo and Kuala Lumpur, to provide assistance to its customers worldwide. The Tata Group-owned airline has partnered with Concentrix, a California-headquartered customer engagement firm, to manage premium services from centres in Mumbai, Cairo, and Kuala Lumpur. Besides, the carrier has signed up iEnergizer to operate contact centres in Noida and Bengaluru, focusing on domestic inquiries, a release said on Friday. Recently, Air India introduced a premium desk for its premium frequent flyer members as well as business and first-class guests.

JM Financial initiated coverage on Bharti Hexacom Ltd (BHL), which listed at a premium of 32.5% today, with a buy recommendation and a price target of Rs 790. Shares of the company were trading on BSE at Rs 767 on Day 1. “We expect BHL’s ARPU to grow at 10% CAGR, consisting of two elements: 6-7% ARPU CAGR due to regular tariff hikes; and 3-4% ARPU CAGR due to Bharti Airtel’s premiumisation strategy.” read the report by JM Financial.

TDS typically at 1% of property value before making payment to any seller. However, there is an exception to this rule which may require you to deduct higher tax deducted at source (TDS) and it is linked to the status of the PAN of the seller. Before buying property, you need to check the status of PAN-Aadhaar linkage of the property seller. This needs to be checked both at the time of paying token money and at the time of making the final payment for the property. Chartered Accountant Mihir Tanna, associate director-direct tax, S.K. Patodia LLP, shares the experience of one of his clients who bought a property.

cutting interest rates in the second half of this year. The RBI is also expected to follow the US Fed by cutting interest rates. Let us understand whether this is a good time to invest in debt funds.

derivatives thrived in India for over a decade, fueled by retail investors and proprietary traders. Then the central bank broke up the party. Until recently, traders were betting freely on the rupee’s rise and fall without holding underlying assets. A rule that allowed transactions of up to $100 million without providing proof of an actual foreign-currency exposure had been interpreted by them as tacit acceptance of speculative trade by the authorities.

Russian police have seized over 3,200 crypto mining rigs in raids on four large “illegal” data centers in Siberia.

Canada has recently decreased the number of Indian staff members in its diplomatic missions across India due to a shortage of Canadian personnel necessary for the effective management of in-country operations. This move comes in response to India's expulsion of 41 Canadian diplomats last year, which aimed to achieve parity in diplomatic presence. Consequently, Canada had ceased in-person operations at its consulates in Mumbai, Chandigarh, and Bengaluru. While the exact number of retrenched employees remains undisclosed, it is understood to be less than 100. Confirming the staff reductions, a media relations official at the high commission expressed regret over the necessity of this decision, citing the departure of Canadian staff last year. «We wish to extend our sincere gratitude to our local staff in India for their resilience, dedication, and service. Canada remains committed to providing essential services to Canadians in India, including consular support and facilitating trade and business development, to uphold the longstanding ties between our two nations,» stated the official, noting that Canada's visa application centers in India continue to operate normally.