Provident Financial News

long-term perspective, presents considerable challenges for many retail investors. The landscape of investment is ever-evolving, posing unique hurdles along the way. Despite these obstacles, Indian retail investors have navigated the terrain with confidence since the market downturn in 2020.

By Gilles Guillaume

US Federal Reserve, which provides guidance on liquidity conditions, Ashima Goyal, a member of the Monetary Policy Committee said to Bhaskar Dutta in an interview. Edited excerpts: Is there a need for liquidity management to also be brought under the purview of the MPC? As the experience of the past six months shows us, liquidity conditions have been the driver of funding costs rather than the benchmark policy rate that the MPC votes on.

The February 24 meeting between Indian business tycoon Gautam Adani and Uber's CEO Dara Khosrowshahi hosted a part of discussions for a strategic partnership between the two majors for rolling out the Adani group's electric passenger vehicles on the ride hailing platform. The collaboration aims to increase the conglomerate's super app Adani One's traction. Adani One, launched in 2022, provides a range of services, including booking flights, vacation packages, airport services, and may further help with taxi bookings with Uber integration.

Gokhale Bridge is all set to re-open partially in Andheri on Monday, February 26. Mumbai's Guardian Minister (Suburbs) Mangal Prabhat Lodha will inaugurate the bridge today. It is expected that the bridge will be fully operational by December 2024.

Investing.com-- Most Asian stocks retreated on Monday as persistent concerns over higher-for-longer interest rates sparked some profit-taking in technology stocks, while Japanese markets scaled new record peaks ahead of key inflation data.

Investing.com-- Most Asian currencies fell on Monday, while the dollar regained some ground as investors hunkered down before a barrage of cues on interest rates and U.S. inflation due later this week. 

Garena Free Fire Max is a revamped version of Garena Free Fire, which was banned by the Indian government in 2022. Since then, the battle royale game has made a name for itself among gamers in the country thanks to its vibrant graphics and intense gameplay. The game's developers, 111 Dot Studios, have also been releasing daily redeem codes to boost the game's popularity, giving users access to many premium in-game goodies for free.

Mohamed Muizzu about “thousands of Indian military personnel" were just another in a string of lies. In a post on X (formerly Twitter), the newly elected president of the Maldivian Democratic Party said, “100 days in, it's clear: President Muizzu's claims of 'thousands of Indian military personnel' were just another in a string of lies. The current administration's inability to provide specific numbers speaks volumes." "There are no armed foreign soldiers stationed in the country.

Bengaluru airport. In a post on X (formerly Twitter), the Kashmiri Pandit academic based in London wrote, “Denied entry to #India for speaking on democratic & constitutional values.

Investing.com-- Oil prices fell in Asian trade on Monday, extending steep losses from the prior session as markets remained uncertain over demand, especially in the face of higher-for-longer U.S. interest rates.

₹3.4 trillion debt, two people aware of the plan said. The Centre may soon begin talks with NHAI’s long-term bond holders for the prepayment, the people cited above said on condition of anonymity. The move would allow NHAI to deploy more capital for strengthening the highway network, and bring down interest payments, which are taking up a big chunk of the government’s annual budget allocations.

Here are top 10 updates on INLD chief Nafe Singh Rathee's murder, 1) Jhajjar SP Arpit Jain said, "We received information regarding an incident of firing. CIA and STF teams are working. The accused will be arrested soon." Police said further investigation into the matter was underway.

WASHINGTON (Reuters) — President Joe Biden plans to meet with congressional leaders Tuesday to discuss funding the government as a partial shutdown deadline looms on Friday, the White House announced Sunday.

SEOUL (Reuters) -South Korea's finance minister said the government's corporate reform plan would continue in steps until the «Korea discount» in the local stock market is resolved.

By David Stanway

Jupiter Asset Management recently moved to cancel its partnership with the 21Shares Ripple (XRP) exchange-traded product because of regulatory issues faced in Ireland. Jupiter invested over 2 million into the fund and didn’t lose much by pulling out of the investment.

Mumbai bench of Income Tax Appellate Tribunal has allowed ICICI Bank Ltd to avail ₹1,855 crore bad debt write-off as deduction, but dismissed the private bank's appeal seeking ₹502-crore worth long-term capital loss allowance. The appellate tribunal was hearing ICICI Bank's appeal against an order of principal commissioner of Income tax (PCIT) for 2015-16. The PCIT had ruled that an allowance of long-term capital loss of ₹996 crore was irregular and that the bank had claimed an excess capital loss of ₹502 crore. The bank had calculated capital gain and capital loss while acquiring and selling shares, applying the cost of inflation index on foreign currency rather than Indian currency, it said. The ITAT bench of Sandeep Singh Karhail and Prashant Maharishi upheld the order of PCIT and observed that ICICI Bank transacted in Indian currency and, therefore, it could not have indexed the cost of inflation on foreign currency.

infrastructure financier after it went bankrupt in October 2018. The group has approached the National Company Law Appellate Tribunal (NCLAT) with these pleas against the Reserve Bank of India and 11 public sector banks. The group, which includes IL&FS Financial Services and IL&FS Transportation Network among its eight companies, argued in the application filed in December that such actions by banks would violate court orders providing immunity to the board appointed in public interest by the government. The board has been working to deal with bad debt of Rs 94,000 crore since October 2018.

Household Consumption Expenditure Survey (HCES) will likely have limited impact on consumer price index and inflation calculations, as the food component still accounts for a significant proportion of consumer spending in the country, experts said. The impact on urban inflation will likely be even lower than rural, as the decline in food spending is smaller for urban areas compared with villages. «The new HCES does not indicate big shifts in the consumer price index basket, as the ratio of food items remains high in total spending,» said Rahul Bajoria, managing director and head of EM Asia (ex-China) economics at Barclays. The HCES, which provides information and data on spending, is a key source of input for deciding of weights and shares for the composition of the inflation basket. The results, released on Saturday, were eagerly awaited in view of the update needed to the CPI basket, tilted heavily towards food. The latest survey will lead to an update of the base year for the calculation of consumer prices. It is 2012 for the current series based on the HCES of 2011-12. The National Statistical Office conducts the household consumer expenditure survey every five years. The last survey of 2017-18 was junked citing data inconsistencies. Experts say categories within food could bring about larger shifts in inflation dynamics. «Within food also there could be bigger shifts,» Bajoria said.

Paytm Payments Bank has told the Enforcement Directorate (ED) that it does not possess the licence required for outward foreign remittances and hence the question of it violating Fema does not arise, people in the know told ET. The federal agency last week wrote to the Reserve Bank of India (RBI) to verify this claim, they said. The 'AD-II' licence issued by the RBI is mandatory for companies to make foreign remittances. ED is probing alleged violations of the Foreign Exchange Management Act (Fema) by entities using Paytm Payments Bank.