Provident Financial News

Bharti Airtel has waived off its right of first refusal (RoFR) to acquire state-owned Telecommunications Consultants India Ltd’s 30% stake in Bharti Hexacom as it sees no immediate value in such a move, analysts said, quoting the telco’s senior management. Last month, Bharti Airtel subsidiary, Bharti Hexacom, had filed a draft offer document with Securities & Exchange Board of India (Sebi) to sell a 20% stake of TCIL which will provide the government a partial exit. TCIL’s holding will drop to 10% after Bharti Hexacom’s initial public offer (IPO), while parent company, Bharti Airtel, will retain its 70% stake in the unit. “Bharti’s management mentioned that Airtel had a right of first refusal to acquire this 30% stake (in Bharti Hexacom) owned by the government via TCIL, but they waived off this right as of now as the telco doesn’t see any value in acquiring the stake from the market, post-Bharti Hexacom listing),” BofA Securities said in a note seen by ET.

Narendra Modi on Tuesday announced the launch of the 'PM Surya Ghar: Muft Bijli Yojana' which aims to light up one crore households by providing up to 300 units of free electricity every month. Modi said the project would entail an investment of over Rs 75,000 crore. In a post on X, Modi said, «In order to further sustainable development and people's wellbeing, we are launching the PM Surya Ghar: Muft Bijli Yojana. This project, with an investment of over Rs 75,000 crore, aims to light up 1 crore households by providing up to 300 units of free electricity every month.» From substantive subsidies, which will be given directly to people's bank accounts, to heavily concessional bank loans, the central government will ensure that there is no cost burden on the people, the prime minister added.

While credit scores aren’t exactly the most romantic topic of discussion, they can be the keys to unlocking the future that you and your partner envision

The generative artificial intelligence boom has led to the emergence of more companion chatbots

A man who managed two forestry projects in Guatemala for a New Hampshire-based investment company has pleaded guilty in federal court to stealing $10 million from the business

A nasty storm with 60 mph winds is raking parts of the Northeast creating dangerous conditions on the road and it's leading to a lot of cancelled flights

Thousands of U.S. ride-hailing workers plan to park their cars and picket at major U.S. airports in what organizers say is their largest strike yet in a drive for better pay and benefits

A Republican lawmaker in Kentucky has unveiled sweeping legislation that’s meant to shore up and expand the network of childcare centers across the Bluegrass State

girlfriend was generated by artificial intelligence. Carrier wasn't looking to develop a relationship with something that wasn’t real, nor did he want to become the brunt of online jokes.

Garena Free Fire Max is a revamped version of the original Garena Free Fire, which was banned by the Indian government in 2022. However, Free Fire Max has found a unique place among the country's gaming enthusiasts thanks to its vibrant graphics and intense gameplay. Moreover, the release of daily redeem codes by the game's developers, 111 Dot Studios, only adds to the excitement surrounding this battle royale game.

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Sovereign Gold Bond: SGBs provide a secure and convenient method for investing in gold, offering several benefits such as safety, interest income, capital appreciation, tax advantages, and liquidity. They are particularly suitable for long-term investors aiming for stability and protection against underperforming assets

On February 12, 2024, Kotak Mahindra Life Insurance Company (Kotak Life) unveiled its digital-centric campaign for the Guaranteed Wealth Builder Plans (GWBP) by Kotak Life. The campaign showcases a range of reliable investment options provided by Kotak Life. Its goal is to tackle consumers' primary concerns regarding investments, specifically addressing uncertainties surrounding returns and emphasizing the importance of investing in tax-efficient instruments.

Post the allotment, the company saw a jump in its GMP and is currently at Rs 175, more than double that of the issue price. The IPO was priced at Rs 115 at the upper end.

North Korea on Wednesday fired multiple cruise missiles into the sea in its fifth test of such weapons since January, South Korea's military said, extending a streak in weapons demonstrations that's elevating tensions in the region. South Korea's Joint Chiefs of Staff said the South Korean and U.S. militaries were analyzing the launches that were detected in waters northeast of the eastern coastal city of Wonsan. The South Korean military didn't immediately provide the exact numbers of missiles fired or how far they flew. It wasn't immediately clear either whether the missiles were fired from land or from sea assets. «Our military has increased surveillance and vigilance and is working closely with our US partners and is closely monitoring signs for further activity from North Korea,» the Joint Chiefs of Staff said in a statement. Experts say North Korea is ramping up pressure on its rivals in an election year in South Korea and the United States with a long-term focus of forcing Washington to accept the idea of the North as a nuclear power and extract security and economic concessions from a position of strength.

Valentine's Day, today, 14 February 2024, let's understand the importance of a joint savings bank account. Are you looking to open a joint savings account with your spouse? All banks that offer savings accounts, allow you to open a joint account. According to the Reserve Bank of India (RBI), there is no restriction on the number of account holders who can jointly share one account.

Mint. This is significant development, given India plays a crucial role in the G20 as part of the leadership trio, including Brazil and South Africa, tasked with steering the organization's discussions and decisions throughout the year. The G20 meeting is set for 21-22 February, directly overlapping with the Raisina Dialogue, scheduled for 21-23 February.

On February 12, 2024, Federal Bank introduced its newest product, the Stellar Savings Account, aiming to transform the banking sector by delivering exceptional benefits and innovative features. Noteworthy features of the Stellar Savings Account comprise:

Bank of America has named Infosys McCamish Systems (IMS), the US subsidiary of Indian software services giant Infosys, as the source of a data leak owing to a ransomware attack suffered by over 57,000 of its users in November, according to documents reviewed by ET. “On or around November 3, 2023, IMS was impacted by a cybersecurity event when an unauthorized third party accessed IMS systems, resulting in the non-availability of certain IMS applications. On November 24, 2023, IMS told Bank of America that data concerning deferred compensation plans serviced by Bank of America may have been compromised,” said a letter sent earlier in February to Bank of America consumers informing about the data breach. ET has reviewed the letter.

“The combination of flexicap and largecap funds can offer investors a balanced approach to navigating the current market environment, leveraging the strengths of both flexibility and stability” says Rajesh Bhatia, CIO at ITI Mutual Fund. In an interview with ETMarkets, Bhatia who has over 30 years of investment experience said: “Investing in Large Cap funds can be a prudent strategy for investors looking for stability and growth potential in their portfolios,” Edited excerpts: We have seen some volatility in the market post the Interim Budget. What is keeping investors on the edge, or is it profit-taking? Rajesh Bhatia: The Indian markets are in a bull phase. The breath of sector participation in this rally implies that this is a strong market.

South Korea's military says it has detected North Korea firing multiple cruise missiles into waters off its northeastern coast in its fifth test of such weapons since January. South Korea's Joint Chiefs of Staff on Wednesday didn't immediately provide the exact numbers of missiles fired or how war they flew.