Provident Financial News

By Simon Jessop and Huw Jones

Realme has enlisted the iconic ShahRukh Khan as its brand ambassador. Fans eager to witness the event live can do so on Realme's official YouTube channel or through a dedicated live stream provided by the company. One of the standout features of the Realme 12 Pro Plus 5G is expected to be its periscope telephoto lens, marking a significant advancement since 2020 for the company.

China plans to merge three of its largest state-owned bad debt asset managers with its China Investment Corp sovereign fund as part of a plan to reform institutions, the official Xinhua news agency cited unidentified sources as saying in a report on Sunday.

SIDBI ET MSME Conclave was organised in Bhubaneswar on January 19. The event — Empowering MSMEs: Forging a Resilient Future — was organised by Small Industries Development Bank of India (SIDBI) in association with The Economic Times, with an aim to uplift innovation and entrepreneurship in the capital city of Odisha. The high-powered event saw a large gathering of MSMEs and industry stakeholders. The SIDBI MSME Conclave in Bhubaneswar hosted enlightening fireside chats and panel discussions with stakeholders and industry leaders on topics such as building a startup hub, encouraging innovation and fostering collaboration in the MSME clusters in Odisha. The MSME conclave began with a speech from Sudatta Mandal, DMD, SIDBI.

Budget 2024: The government is expected to extend the timeline for filing a revised tax return by individual taxpayers where foreign income and taxes are also required to be reported in the tax return, says Akhil Chandna, Partner, Grant Thornton Bharat.

India, France to strengthen defence ties On the 60th anniversary of diplomatic relations between China and France, Chinese President Xi offered to "break new ground" to give a fillip to bilateral ties between the two countries. Chinese Foreign Minister Wang Yi said they have offered to step up French imports to the country.

The Reserve Bank of India’s (RBI) maiden report on ‘Finances of Panchayati Raj Institutions,’ released on 24 January 2024, fills a long-felt gap in our understanding of the fiscal health of the third tier of government in India: local institutions of governance. Though it is now more than 30 years since the 73rd amendment to the Constitution institutionalized Panchayati Raj Institutions (PRIs) at three levels in rural India—gram panchayats at the village level, mandal panchayats at the block level and zila parishad at the district level—empowerment of the kind envisaged in 1992 is yet to realized.

TAX CHANGE: Interest earned on contributions to the Provident Fund beyond Rs.2.5 lakh in a year are now taxable HOW TO GET AROUND IT: Restrict contributions to Rs.2.5 lakh a year. If you need to invest more, open a PPF account, if you don’t already have one, or else, go for debt funds to defer tax. TAX CHANGE: LTCG beyond Rs.1 lakh from stocks and equity-oriented mutual funds are taxed at 10%. HOW TO GET AROUND IT: Harvest gains of up to Rs.1 lakh every year by booking profits, and then buying back the same stocks or mutual funds. TAX CHANGE: Maturity proceeds of Ulips are taxable if the combined premium of policies bought after 1 Feb 2021 exceeds Rs.2.5 lakh.

corpus of Rs.10.5 crore to sustain inflation-adjusted withdrawals till the age of 85. To build this enormous nest egg, Nagarajan needs to put away nearly Rs.80,000 every month in avenues that earn her 10% annualised returns. However, the Chennai-based IT professional earns Rs.60,000 per month and spends nearly all of it. “If I start saving for retirement, I will have nothing left to spend,” she says. Many people dream of a care-free retirement, with lots of spare time and enough money in the bank. This dream may remain just that if you haven’t saved enough. The road to building an adequate nest egg is full of pitfalls. Topping the list is investing less than you need to. A 30-year-old, aiming at a retirement income of Rs.50,000 a month, will need to invest Rs.35,000 a month for 30 years to live comfortably till the age of 90. Invest less than this amount and your nest egg will be finished in no time (see graphic). “Under-funding of retirement corpus is a common problem. People don’t realise this until much later, when money starts running out,” says Abhishek Kumar, Founder & Chief Investment Adviser, SahajMoney. No more nudges It is here that compulsory savings play an important role. The mandatory monthly contribution to retirement plans, such as the Employees’ Provident Fund and the NPS, means that salaried people are putting away at least 12% of their income towards retirement. Add to this the tax-saving investments under Section 80C, which force many people to put away money in long-term investments.

Fortnite Chapter 5 Season 1. Whether you missed it before or want to add to your collection, here's a straightforward guide on acquiring the Takara skin.

₹20 crore Osamu Suzuki made in the company in 1981, ‘staking his reputation’ on a company that was almost ‘guaranteed to fail’, according to Bhargava, because he was one of the few people who believed in the potential of India’s car market. Suzuki also helped Maruti break out of the mould of a traditional PSU and prioritize profitable growth and competitiveness.

ALSO READ: BJP takes ‘mental bankruptcy’ jibe at Delhi CM Arvind Kejriwal on AAP MLA poaching charge: ‘Give proof or resign’ "AAP will contest on all 90 seats and we will form the next government in Haryana and make it the number 1 state in the country," he said. Punjab Chief Minister Bhagwant Mann was also present at the event. He added that Haryana is looking for a 'big change' as the state's people are 'fed up' with all the parties that have ruled here.

₹50 trillion-MF industry can boast of a track record of 20-30 years. While these funds have grown in size over the years, their performances have also seen ups and downs across different time-periods. Here, we look at three such funds; their recent and historical performance and what investors can expect from them.

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Like a Dragon: Infinite Wealth? This piece breaks down the main story length and what completionists can expect, providing insights into the Yakuza franchise's latest installment.

As Solana (SOL) edges closer to the $100 mark, the crypto community is abuzz with speculation about its potential to surpass its previous all-time highs. Trading at $94.05 today, SOL has seen a 1.03% increase in the last 24 hours, with a robust trading volume of around $2.34 billion.

Munawar Faruqui secured the winner's title for the 17th season of the widely popular reality show, 'Bigg Boss.' Known for his witty one-liners and captivating presence, the stand-up comedian not only claimed the coveted trophy but also bagged a substantial prize of Rs 50 lakh.

₹15 trillion mark soon after the Supreme Court judgement. The Adani group has already invested close to $1 billion in the Navi Mumbai airport to operationalize the first of the four planned passenger terminals by December 2024.

₹25,000 (self and family) to ₹50,000, while raising this further for senior citizens. However, no view on this has been taken so far, the people cited above said. Separately, digital banking units (DBUs) may be allowed to provide more financial products, including insurance policies and other products, to advance financial inclusion.

By Jamie McGeever

University Grants Commission (UGC) has issued draft guidelines for de-reserving vacancies meant for scheduled caste (SC), scheduled tribe (ST) and Other Backward Class (OBC) candidates in higher education institutes (HEIs) and open them up for the general category if enough reserved candidates are not available, news agency PTI reported Sunday. The last date for providing public opinion ends today.