Provident Financial News

Detained Binance executive Tigran Gambaryan has sued two Nigerian agencies, accusing them of infringing his basic human rights.

Bengaluru IT companies to give WFH or work from home option as daily lives get impacted due to the water shortage. BWSSB Chairman V. Ram Prasath Manohar recently convened a virtual meeting with IT companies to address these apprehensions and discuss measures to mitigate the situation. Manohar emphasized BWSSB's commitment to ensuring sufficient water supply to IT firms, affirming that measures implemented citywide would extend to serve these companies. Healso urged prudent water usage, emphasizing the importance of raising awareness among employees regarding water conservation practices. BWSSB authorities say that the completion of Cauvery 5th stage project would help in additional supply of 775 million litres per day (MLD) of water, significantly augmenting water availability and addressing shortages.

insurance policies in electronic format. Very similar to how investors hold shares in a demat account. In a notification «Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers Regulations, 2024» dated March 20, 2024, the Insurance Regulatory and Development Authority of India (IRDAI) said, «Every insurer shall have in place a Board approved policy for insurance policies issued in electronic form...» «Irrespective of whether the proposal is received in electronic form or otherwise, every insurer shall issue insurance policies only in the electronic form,» the regulator said. To issue policies in the electronic format, the insurers must fulfill two conditions: a) Provided that the authority, on being satisfied that it is in the interest of policyholders and for orderly growth of the insurance industry, allow such exemptions to this requirement; b) Provided further that the insurer shall mandatorily seek the choice of the prospect in the proposal form for availing physical policy document, IRDAI said.

Personal loans fall under the category of unsecured loans, meaning they lack collateral such as a car or house to back them up. While this makes them more accessible compared to secured loans, they often result in higher interest rates.

Bambrew, a cleantech startup operating in the sustainable packaging space, on Friday said it has raised Rs 60 crore (about $7 million) in Series A funding round led by Blume Ventures. The funding was a mix of equity and debt. The equity element totalled to about Rs 30 crore, a company spokesperson told ET.

Giridhar Aramane on Friday inaugurated a hovercraft maintenance unit of the Indian Coast Guard at Okha in Gujarat's Devbhumi Dwarka district, said an official. Hovercraft are used in amphibious operations. Director General of the Indian Coast Guard Rakesh Pal and other senior ICG officials were also present at the inaugural ceremony, the maritime security force said in a release. «The Hovercraft Maintenance Infrastructure shall provide a fillip to the operational readiness in forward areas,» it said. Talking to reporters after the ceremony, Aramane said the Centre is committed to increasing the ICG's strengths and capabilities so that it can protect the Indian coastline without any trouble.

Mutual fund registrar and transfer agents (RTAs) CAMS and KFintech are urging MF investors via email to ensure they comply with this essential requirement. According to Ashish Aggarwal, Director, Acube Ventures, non-compliance could mean a sudden halt to the crucial transactions of SIPs, SWPs, and redemptions from April 1. This RE-KYC is a regulatory need, in the sense that it is SEBI's master circular on norms of KYC and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, said Aggarwal.

personal loans, it entails steadily reducing the loan balance with each monthly installment until the loan is completely repaid by the end of its term. Here’s an overview of how it operates for personal loans: Put plainly, amortisation enables you to steadily chip away at the loan, addressing the interest along with the principal amount throughout the loan duration. This systematic method facilitates consistent budgeting and guarantees full repayment of the loan by the term’s conclusion.

credit cards are not exempt. Below is an overview of key credit card-related updates taking effect from April 1, 2024: Starting from April 1, 2024, SBI Card will discontinue earning reward points on rent payment transactions for specific credit cards, namely AURUM, SBI Card Elite, SBI Card Elite Advantage, SBI Card Pulse, and SimplyCLICK SBI Card. For more information on the revised reward points program, please visit the SBI Card website or app.

Also Read: Retirement mutual funds: Why should you opt for these schemes? 3 key reasons explained The investment objective of the scheme is to provide capital appreciation and income to investors in line with their retirement goals by investing in a mix of securities comprising equity, equity-related instruments, REITs and InvITs, and fixed-income securities. However, there is no assurance that the investment objective of the scheme will be achieved.

Tomorrow's IPL Match: Lucknow Super Giants (LSG) and Punjab Kings (PBKS) will clash on March 30 at the Ekana Sports City in Lucknow. This will be LSG’s second match in IPL 2024 while PBKS will play their third match. Lucknow, yet to get any points, are right at the bottom of the points table.

Pixel Watch 3. Codenamed G1QME, the device is rumored to boast a 307mAh battery, a modest improvement from the Pixel Watch 2's 304mAh. Google seems keen on refining its wearable lineup, as evidenced by the incremental battery upgrades seen across successive generations.

As April heralds the beginning of the new financial year 2024-25, a number of significant changes in money-related matters are set to take place. These changes, ranging from new NPS rules to credit cards, are good to be aware of while you want to keep your finances under control. 

Dogecoin has witnessed a remarkable surge, touching $0.217210 with trading volumes soaring to $5.84 billion.

deadline to claim income tax exemption set to expire on March 31, taxpayers are scurrying to invest in the tax-saving instruments before the financial year draws to a close. With financial markets closed until the start of the next financial year (2024-25), it is not possible to claim tax exemption via investment in equity instruments, one can – however – still invest in non-equity instruments such as tax-saving fixed deposits, insurance and PPF. Additionally, banks are open on March 31, so one can invest in these instruments in order to claim tax exemption.

The six victims of the Francis Scott Key Bridge collapse were all immigrants from Mexico and Central America, doing the kind of grueling work that many immigrants take on, when a container ship crashed into a support pillar at 1:30 a.m. EDT on Tuesday (0530 GMT) and sent them plunging into the icy Patapsco River. Divers pulled the bodies of Alejandro Hernandez Fuentes and Dorlian Castillo from a red pickup truck 25 feet underwater the following day.

Global Capability Centres (GCC) — the first draft of which is expected in June — top executives told ET that the policy should include investment in the growth of infrastructure in tier 2 cities through initiatives like Beyond Bengaluru. Local incentives on new and renewed investments based on employment creation in the State is another top suggestion. Industry leaders said that there should be single window approval cells and fast track resolution on issues reported. The policy should provide a mechanism for the industry to address requirements from various wings of the State government, they said.

revenue generation is weighing on digital payments startups, offsetting surging business volume due to the widespread adoption of digital payments in the country. Payment processing charges, which fintech firms need to pass on to technology providers, banking partners or payment networks like the National Payments Corporation of India, Visa or Mastercard, have skyrocketed in recent times for most of the fast-growing players.

Gen AI) use cases by this year end, SAP's first chief AI officer Philipp Herzig told ET, helping boost sales in a revenue stream that's expected to garner a disproportionate share of the future P&L at the enterprise software major. Creating a new AI-focused unit under Herzig’s leadership, SAP currently has almost 30 different use cases or tasks in the customer experience, HR and documentation, sales and services domains are accomplished via Gen AI.

fintech sector, have received income tax notices in recent weeks with respect to venture capital raised by them, according to people in the know. The notices — served under Section 68 of the Income Tax Act — have clubbed the investments received by these startups with the income earned by them, and tax and penalties have been levied on the combined amount, the sources said. So much so that one startup, registered with the Department for Promotion of Industry and Internal Trade (DPIIT) — has been asked to pay Rs 37 crore in tax and penalty on funding of Rs 40 crore by venture capital investors, they added.

With the future of the Labor Department’s proposed retirement security rule currently underreview, advisors remain focused on their clients’ rollovers from 401(k) plans.