Provident Financial News

Bank of India revises FD rates: BOI has updated its fixed deposit interest rates for deposits below ₹2 crore. Following the revision, the bank now provides interest rates ranging from 3% to 7.25% for deposit periods spanning from 7 days to 10 years. These rates are effective from 1 April 2024. Senior citizens receive an extra 50 basis points (bps) on tenors of 6 months and above, while super senior citizens are granted an additional 65 bps. For deposits below ₹2 crore and tenors of 3 years and above, senior citizens receive an additional premium of 25 bps, totaling 75 bps. Similarly, super senior citizens are offered an additional premium of 25 bps, totaling 90 bps.

₹675 crore in fiscal year 2022-23 (FY23) from ₹439 crore a year ago. Companies have time till end of September to file their latest financial statements with the Registrar of Companies.

defaulting on loan repayment from being considered a criminal offense, except in cases of fraud, breach of trust, or as specified by the law. He further explained that when a borrower consistently misses EMI payments, the lender has the authority to systematically inform them. Typically, banks or financial institutions are required to give the borrower reasonable notice to fulfill their payment obligation.

«There is work that is being done on the charging infrastructure. Charging infrastructure needs a lot more work to do and we are also doing some work in that area,» says Ravi Pandit, Chairman, KPIT Technologies. Can you outline for the benefit of our viewers that how has KPIT benefited because of EVs? How much of your total business is coming from EVs? And do you think EV is not just a fad, it is a real deal? We believe that EV is not a fad. EV is actually a complete structural change in the auto industry. Now, there are two-three things which are driving growth for a company like us. One is that EV by itself is a change in the powertrain. So, how do you have a new powertrain, whether it is a battery electric or a fuel cell electric and technologies relating to that, so that is one thing which is really purely related to EV as such.

SK Hynix, the world's second-largest memory chip maker, said on Wednesday it will invest around $3.87 billion to build an advanced packaging plant and research and development facility for AI products in the U.S. state of Indiana. The new plant will include an advanced chip production line to mass-produce next-generation high bandwidth memory (HBM) chips, currently used in graphic processing units that train artificial intelligence systems, the Nvidia supplier said in a statement.

recycling lithium-ion batteries (LIB) and e-waste using indigenous technology in Uttarakhand. This move aims to enhance circularity and lessen the country's reliance on imported critical mineral resources. Presently, a large portion of LIBs, about 95%, end up in landfills without recycling, while only 5% undergo the process. The lithium-ion battery recycling market is expected to grow significantly, reaching close to $15 billion by 2030, showing a compound annual growth rate of 21.6%. In 2021, the market size was $3.8 billion. Improper disposal of LIBs through landfilling and incineration poses environmental and health risks. Effective recycling will not only provide secondary raw materials for cell manufacturing domestically but also help in averting health hazards. Moreover, e-waste poses a substantial challenge, with approximately 78% of it not being collected in India. This results in valuable secondary raw materials like gold, silver, copper, and rare earth elements being left in dump yards or landfills. India is currently the third-largest generator of e-waste globally.

recalled by Health Canada, including one the agency warns could potentially cause death in the most vulnerable patients.That device is known as the OmniLab Advanced, and it’s typically used by people with sleep apnea — a condition where those affected stop and restart breathing while asleep.According to the recall notice, the OmniLab Advanced has an alarm to notify users when the device’s ventilator finds an internal error or problem. The agency says products with any lot are recalled or have the model number 1044278.According to the agency, this includes the device rebooting intermittently, restarting therapy, or even entering an inoperative state with or without reboots.Health Canada says any of the issues could “result in interruption and/or loss of therapy which may lead to hypoventilation, mild to severe hypoxemia, hypercarbia, respiratory failure/insufficiency, or potentially death in the most vulnerable patients.”It’s not the only medical device recalled, however.Among the recalls, several of which began last month, are multiple Medtronic cannulae products.

Vodafone Idea will on 6 April consider issuing equity or convertible securities of up to ₹2,075 crore on a preferential basis to one or more promoter group entities, the company told BSE in a notice late Wednesday. This follows shareholder approval of the third largest carrier's proposal to raise ₹20,000 crore from issuing securities. Vodafone Idea’s board had approved a ₹45,000-crore fundraising initiative, including the ₹20,000-crore equity-based capital infusion from existing investors, on 27 February.

100 million milestone, registering an increase of 1.1 million cards from the previous month. While this highlights the increasing popularity of credit cards, it also suggests a potential uptick in credit card fraud cases. This is particularly concerning as many cardholders have reported unauthorized international transactions even after deactivating international usage.

Lincoln Financial Group is beefing up its shelf of retirement plan offerings with two new solutions, one for businesses and the other for not-for-profit organizations.

In a significant step forward for the gig economy, Stride has unveiled a pioneering initiative that promises to help enhance benefits for independent workers.

Vodafone Idea: The telecom services provider announced in an exchange filing on Wednesday that its shareholders have given the green light for a proposal to issue securities amounting to approximately ₹20,000 crore. This announcement came a day after the company's virtual Extraordinary General Meeting (EGM). With this approval, the telecom firm is on track to wrap up the equity fundraising by June's end.

Wipro Infrastructure Engineering (WIN), industrial engineering division of billionaire Azim Premji’s Wipro group, is betting on artificial intelligence (AI) and the government’s manufacturing push to drive its $1-billion growth plans as it plans to accelerate its automation business, top executives said. WIN has seen initial success in data analytics following the acquisition of Linecraft.ai about a year ago, which has helped its customers increase efficiencies in the 7%-15% range, Pratik Kumar, managing director and CEO of Wipro Enterprises, told ET.

Dividend stocks: Shares of Sundaram-Clayton Ltd, Varun Beverages Ltd, Cupid Ltd, and Savani Financials Ltd will be in focus when the stock market opens on April 4 (Thursday). The Board of Directors of the 4 companies have declared interim dividend, final dividend, rights issue, stock split, and bonus issue for their eligible shareholders. The record date by the 4 companies to ascertain the eligibility of shareholders for their respective issues has been fixed on April 4.

BEIJING — China's real estate troubles are likely far from over and industry problems need to be addressed quickly if overall GDP growth is to pick up significantly, according to a report released Thursday by global investment firm KKR.

Reliance Industries (RIL), Tata Motors and Indian Oil Corporation (IOC) will be the key bidders for the government's pilot project for the use of green/grey hydrogen (H2) in the transport sector, according to people who are aware of the development. The initiative is in line with the government's aim to decarbonise the economy, reduce dependence on fossil fuel imports, and enable India to assume technology and market leadership in green hydrogen. «The pilot projects will help to identify operational issues (with regards to H2) and gaps in terms of current technology readiness, regulations, implementation methodologies, infrastructure, and supply chains,» stated the revised request for proposal (RFP) document reviewed by ET. The bid for the Rs 496-crore project which opened in February, closes on Thursday. It is part of the National Green Hydrogen Mission which was launched in January 2023 with an outlay of Rs 19,744 crore. One of the key criteria from the bidders is participation as a consortium or partners to ensure the entire value chain — from making hydrogen and dispensing it and running vehicles fuelled by hydrogen. The bidding consortium should include a vehicle manufacturer, hydrogen fuel supplier distributor, and other partners as required.

India Today. Setting a new benchmark as the world's most powerful MRI scanner, the machine's cutting-edge technology boasts an unparalleled magnetic field strength of 11.7 Teslas. The CEA claims that the images are the result of over two decades of rigorous research and development. ALSO READ: Mars exploration: NASA's Curiosity searches for new clues about ancient water Adding more details, the report said that the CEA aimed to construct an MRI machine that is capable of providing insights into the healthy and diseased human brain with unmatched resolution.

Muizzu highlighted the presence of Indian troops on three platforms in Maldives. ALSO READ: How did China strengthen its bond with Maldives amid India exit? 10 key collaborations between Male, Beijing He said the troops on the third aviation platform will be withdrawn by May 10. He was quoted as saying that the withdrawal of foreign troops from Maldives is being "pursued in accordance with diplomatic norms and principles".

₹1.97 trillion (over $26 billion) to support manufacturing growth in 14 sectors, especially those that help in import substitution such as specialty steel and drone components. The outlay was for a period of five years starting 2022.

₹2,033 crore for FY24. A company statement said that on Wednesday it paid ₹554 crore to the government as the third interim dividend on equity shares held by the Union government for the recently ended fiscal. This is in addition to ₹832 crore and ₹647 crore paid as first and second interim dividend, respectively, to the government.

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