Provident Financial News

currency in circulation decelerated to 3.7 per cent for the week ended February 9 from 8.2 per cent a year ago, reflecting the impact of the decision of the Reserve Bank of India (RBI) to withdraw Rs 2,000 banknotes. Currency-in-circulation (CiC) refers to notes and coins in circulation, while currency with the public comprises notes and coins in circulation minus cash with banks. According to the RBI, commercial banks have reported double-digit growth in deposits in January, which too can be attributed to withdrawal of Rs 2,000 currency notes. The growth of Reserve Money (RM), as per the RBI data, decelerated to 5.8 per cent as on February 9, 2024 from 11.2 per cent a year ago (8.8 per cent adjusted for the first-round impact of change in Cash Reserve Ratio (CRR).

The world junior hockey championship is returning to Alberta.

The Biden administration, leaders of four Columbia River Basin tribes and the governors of Oregon and Washington have signed papers formally launching a $1 billion plan to help recover depleted salmon populations in the Pacific Northwest

Indonesia and Australia have held high-level talks in Jakarta as the neighboring countries seek to strengthen security ties by signing a defense cooperation agreement in the coming months

A judge has dismissed a lawsuit filed by North Dakota's largest city that challenged a new state law that limits the ability of local governments to regulate guns and ammunition

As the World Trade Organization opens its latest biannual meeting of government ministers on Monday, its longtime moratorium on duties on e-commerce products is coming under pressure like never before

Stocks that traded heavily or had substantial price changes on Friday: Sprouts, Block rise; Booking Holdings, Insulet fall

Chip giant Taiwan Semiconductor Manufacturing Co. has opened in an official ceremony its first semiconductor plant in Japan as part of its ongoing global expansion

Fazil Khan. The Indian Embassy in New York has offered support in the wake of this tragedy, stating that they are in contact with Khan's friends and family to provide assistance during this difficult time. “Saddened to learn about death of 27-year-old Indian national Mr.

In February 2023, President Biden made a surprise visit to Kyiv and declared that the U.S. and its allies were determined to win the test of wills with Moscow to defend Ukraine. Biden had taken office pledging to rally the world’s democracies against authoritarian states.

₹2.03 lakh crore as of 2023. The financial year 2023 saw the opening of 35.9 million new PMJDY accounts, a rise from 28.6 million in FY22 and slightly less than 38.7 million in FY21. Despite this remarkable surge, a large number of accounts remain inactive or face duplication, signaling the need for more robust financial literacy and engagement strategies.

Chirag Setalvad, Head- Equities, HDFC AMC, says the government is spending a tremendous amount of money on infra and hence businesses related to infra and investments are doing extremely well. So, that is the first part. The second is private capex has been a laggard and it has been a laggard now for 3, 4, 5, 6 years, right. It has been the great hope and it has not panned out. But eventually it will, it is not like we are never going to spend capex on the private sector side. So, that will be the second leg which will eventually drop. The capex story can continue for many years. It will bring in construction companies. It will bring in equipment providers. That is the story which has strong legs and many years to go. Clear tailwinds are visible there. A purist who tracks technology tells me AI is just a passing phase. It happened with Y2K, they evolved. It happened with the enterprise, they evolved. It happened with digital, they evolved and they survived Covid. AI is something which will be part of every Indian IT services DNA and they will fly in coming quarters. What is your understanding? Chirag Setalvad: I do not think any of us know what AI is.

Chipmaker Broadcom is nearing a $3.8 billion deal to sell its business that allows users to access desktops and applications from any device to private equity firm KKR, people familiar with the matter said on Saturday. The potential deal represents an effort by Broadcom CEO Hock Tan to streamline the company's portfolio after completing its $69 billion takeover of software maker VMware in November.

Sudarshan Setu,' India's longest cable-stayed bridge. Spanning 2.32 km, the bridge connects Okha and Beyt in Dwarka, a pilgrimage site in Gujarat. Its construction, at a cost of ₹978 crore, holds immense significance for residents and pilgrims, providing easier access to the revered Dwarkadhish temple. Prime Minister Narendra Modi tweeted on his X account, 'Tomorrow is a special day for Gujarat's growth trajectory. Among the several projects being inaugurated is the Sudarshan Setu, connecting Okha mainland and Beyt Dwarka. This is a stunning project which will enhance connectivity."

Yemen on Saturday, answering a recent surge in attacks by the Iran-backed militia group on ships in the Red Sea and Gulf of Aden, including a missile strike this past week that set fire to a cargo vessel. According to U.S. officials, American and British fighter jets hit about 18 sites across multiple locations, targeting missiles, launchers, rockets, drones and unmanned surface and underwater vehicles. The officials spoke on condition of anonymity in order to provide early details of an ongoing military operation. This is the fourth time that the U.S. and British militaries have conducted a combined operation against the Houthis since Jan. 12. But the U.S. has also been carrying out almost daily strikes to take out Houthi targets, including incoming missiles and drones aimed at ships, as well as weapons that were prepared to launch.

newer technologies and with better quality radars and the Air Force will sign a new deal with L&T in a couple of days for the same. «This requirement to maintain air defence coverage over the entire country has always been existing. It is one of the major roles of the Air Force. We have had vintage equipment, now the high-power radar and the long-range radars have served us very well for many years. Now, the time has come to move on to newer technologies and better-quality of radars. So this new deal, which we are going to sign with L&T in a couple of days today, will open the way for a completely new technology in ground-based hyper radars,» he said. The Air Chief Marshal was briefed on AI initiatives by the 12 Base Repair Depot for training Agniveers and giving context to the speech.

Houthi sites in Yemen on Saturday, according to officials. As reported by Reuters, this marks the latest in a series of military operations against the Iran-backed group, which has been implicated in ongoing attacks on shipping in the region.

Payments banks (PBs) are expected to knock on the doors of Reserve Bank of India (RBI) to permit them to take small-value fixed as well as recurring deposits, since procuring low-cost savings bank (SB) deposits is proving tough amid rising interest rates on term deposits, reported Business Line.

In a startling revelation, it has been revealed that the Employees’ Provident Fund Organisation (EPFO) has rejected every third claim that it received, reported Indian Express.

Keebeck Wealth Management, an independent advisory firm focused on serving entrepreneurs and multigenerational families, has announced a strategic partnership with iCapital.

ACCO Brands Corporation (NYSE:ACCO), a leading manufacturer of office and consumer products, reported strong fourth quarter and full year 2023 results, with the company exceeding sales and earnings expectations.