Provident Financial News

By Prakash Krishnamoorthy

Fixed deposits (FDs) have long been a preferred investment choice for individuals seeking stability, security, and steady returns. Offering a conservative yet reliable avenue for wealth preservation and growth, FDs remain a cornerstone of many investors’ portfolios.

A term plan is as critical a requirement for non-resident Indians (NRIs) as for people living in their home country. It is all the more crucial for NRIs who might be away from their roots but would want to shield their family. With a term plan, you ensure that your loved ones are not burdened with financial liabilities even if you are not around.

The BFSI sector has grown by leaps and bounds, transitioning India from a primarily cash-driven economy to one that is now highly digitised. Fintech, today, has entered the mainstream, focusing on increasing profitability and curtailing risk. The fintech ecosystem has witnessed tremendous technological advancements and is projected to grow sixfold from $245 billion to $1.5 trillion by 2030. The Asia-Pacific region is expected to outpace the US and climb up the ranks to become the world’s leading fintech market by 2030. 

Ameya Agrawal and Salman Ali

Retirement is a significant milestone in life, marking the transition from active work life to a period of leisure and relaxation. However, to ensure a financially secure and fulfilling retirement, it’s essential to engage in meticulous retirement planning. This process involves assessing your financial situation, setting retirement goals, and implementing strategies to achieve them.

Indian Army, with a strength of 12 lakhs, is preparing for a significant upgrade of its current tanks and the induction of new-generation tanks for future battles. In a TOI report, senior officers have stated that the extensive destruction of Russian tanks in the ongoing Ukraine conflict, primarily in the initial days, was more due to «poor tactics» than anything else. They noted that Russia deployed tanks without adequate logistics support and failed to provide sufficient backup from infantry, artillery, electronic warfare, and close-air support units. According to a senior officer, "Combined-arms operations" were critical and missing in the conflict. Tanks remain essential for both offensive and defensive operations, offering mobility, firepower, and armored protection crucial for large-scale ground battles.

Quess Corp: The recruitment firm has said it will be demerged into three listed entities– Quess Corp Ltd, Digitide Solutions Ltd, and Bluspring Enterprises Ltd. The new Quess Corp will handle workforce management; Digitide Solutions will provide business process management solutions and insurtech; and Bluspring Enterprises will offer facility management, industrial services and investments. The demerger is expected to attract investment, improve capital allocation and boost growth.

₹6,000 each year from the treasury. Similarly, during the covid pandemic, the government began providing free foodgrain and edible oil each month to those in need. These schemes are continuing still, and are regarded as great aid in the villages of Uttar Pradesh, Uttarakhand and Bihar, which I have been in direct contact with.

Masayoshi Son considers the creation of a $100 billion chip venture that would supply AI-enabling semiconductors. Shares in the Tokyo-based tech investor gained as much as 3.2 percent after Bloomberg News reported the 66-year-old billionaire is seeking funding for a foray into AI chips to compete with Nvidia Corp. The project, code-named Izanagi, would be aimed at building an AI chip venture that would complement Arm Holdings Plc, the chip design company in which SoftBank holds a majority stake.

insurance plans, and their savings as being sufficient to secure his family’s future. Are Singh and his wife missing out on anything in this plan? The couple is doing well in following a budget and saving a big portion of their income. The mistake they are making is in not understanding the difference between saving and investment. Saving money means accumulating it in a way that it is easily accessible and is without any risks. It is typically held in bank accounts and deposits. However, holding money in such avenues is suitable only for their immediate or unexpected needs. They must realise that all their future financial requirements will not be of this nature. Having all their money in these avenues is a costly choice because the trade-off for safety and liquidity is lower returns. The money Singh is saving is an asset that has the potential to generate higher returns, which will help him reach his goals faster. The amount that will have to be set aside from the couple’s current income will come down since the returns that will be generated will add to the corpus being created for their future needs. They can use the income that will be freed in this manner to meet other goals or improve the present quality of life for the family. To enhance the earning capacity of their money, Singh must make conscious choices to invest the money, instead of leaving it in the bank account by default.

Aroa Venture Partners, a 2020-founded venture capital firm that invested in companies such as Unacademy, Urban Company and Cred, has launched a new fund with a target corpus of Rs 400 crore (about $50 million). Aroa Opportunities Fund, which registered as a category II alternative investment fund (AIF) with Securities and Exchange Board of India (Sebi) in October 2022, has received in-principle commitments of over Rs 400 crore so far, founder and managing partner Gaurav Gulati told ET in an interaction.

digital public good which will let customers locate an EV charging station, green energy sources, and used idle batteries across the country. Called the Unified Energy Interface (UEI), the initiative is powered by Beckn Protocol, and it will allow a user to search for EV charging stations nearby and settle payments across service providers. Beckn Protocol is an open-source initiative created by the Foundation for Interoperability in Digital Economy (FIDE).

civil aviation security regulator has asked airlines to deploy adequate manpower within 10 days to ensure passengers don't have to wait more than half an hour to collect their luggage. The Bureau of Civil Aviation Security (BCAS) wrote to airlines on Friday, directing them that the first bag should arrive at the carousel within 10 minutes of the aircraft shutting down the engine and the last bag no later than 30 minutes. In January, BCAS monitored baggage arrival time of all airlines at six metro airports — Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata and Chennai — on a weekly basis and found they did not adhere to the standards set in the Operation, Management and Delivery Agreement. Contractual agreement was signed by Airports Authority of India with Delhi and Mumbai airports during their privatisation in 2006. It defines standards of service that the airports have to provide to passengers. «The above monitoring is currently being done at six major airports, However, BCAS has directed the airlines to ensure that the mandated levels are achieved in all airports where they fly,» the regulator said in a statement.

Mizuho Bank, Japan’s third-largest ‘megabank’ with close to $2 trillion in assets, made its biggest bet in India with a Rs 4,100-crore capital infusion in November and followed it up with a Rs 1,200-crore investment in NBFC Credit Saison. Asia Pacific co-CEO Yasuhiro Kubota explains to Joel Rebello why India is important for the Japanese lender and how it plans to expand the business here. Edited excerpts. You infused Rs 4,100 crore ($500 million) capital into India in November – Mizuho’s largest here to date. What does that allow you to do that you couldn't do before? We want to create a lending capacity to be able to support our local book. It's a commitment to the market that we have enough capacity to grow. The $500 million is just the first tranche. We want to do large ticket acquisition financing around our customers, like a loan against shares or what we call promoter financing in India. We had the capabilities in the region but not India. Now, we are developing these capabilities in the country. If somebody wants to acquire a company and they are looking for a billion-dollar cheque, I can say with great confidence that we can do it.

Stocks on Wall Street closed lower on Friday to break their five-week winning streak as investors digested a hotter-than-expected producer price inflation report that added to fears the Federal Reserve is unlikely to cut interest rates anytime soon.

Here are the biggest analyst moves in the area of artificial intelligence (AI) for this week.

Mint explains: Bike-taxis offer a cost-effective mode of transportation, particularly for lower and middle-income groups. With fares of ₹8-10 per km, they compete well with traditional auto-rickshaws, catering to first- and last-mile connectivity needs. Their affordability and accessibility make them useful for urban mobility, especially in congested areas where other modes of transport may be scarce.

ALSO READ: ‘Modi ji, before new guarantees, calculate old guarantees:’ Rahul Gandhi accuses PM Modi of failing to provide 2 cr jobs "Did you see the 'Ram Mandir Pran Pratishtha'? Did you see any OBC or ST/SC faces? It was attended by Amitabh Bachchan, Aishwarya Bachchan, and PM Narendra Modi, but we didn't see the people who truly run the country. These people want to ensure that you guys can never control the country," he said, as quoted by the new agency PTI. Earlier on 22 January, the Ram Temple consecration ceremony was presided over by Prime Minister Narendra Modi and RSS chief Mohan Bhagwat. It was attended by thousands of celebrities, politicians, and other dignitaries, however, the Opposition skipped the event, claiming the BJP was trying to score political brownie points.

₹1,000, ₹10,000, ₹1 lakh, ₹10 lakh and ₹1 crore. The apex court directed that the issuing bank, State Bank of India (SBI), shall herewith stop the issuance of electoral bonds and submit complete details—name of the purchaser and the denomination of the electoral bond.

Saturday Night Live approaches its fiftieth anniversary, Academy Award-nominated filmmaker Jason Reitman is set to transport audiences back to the iconic beginning of the sketch comedy series. The much-anticipated SNL 1975 promises to unravel the behind-the-scenes magic of the show's premiere, providing a unique glimpse into the moments leading up to the historic broadcast.