Provident Financial News

The Biden administration has proposed banning another type of bank “junk fee,” targeting fees that are typically charged by banks when a transaction is declined in real time

Startup India began on 16 January 2016, and by 2018, claimed itself as a huge success for having reached an arbitrary mark of 10,000 firms registered under it. But then, that was a public-relations byte. Eight years on, the jury is still out.

(Reuters) — Insurer W R Berkley reported a rise in fourth-quarter profit on Wednesday, helped by higher premiums and a surge in investment income.

(Corrects paragraph 12 to show that the trading activity was disclosed after the fact)

HBR) piece deals with the rise of a new type of urban conglomeration, meta cities. It elaborates its features: Resurrected residentials During Covid, many predicted the death of global cities because many residents retreated to suburbs and small towns to work remotely.

Amit Shah on Wednesday said the Centre's decision to confer Bharat Ratna on former Bihar chief minister Karpoori Thakur was an honour to crores of poor people belonging to the Backward and Dalit communities. Shah said that on January 22, Prime Minister Modi accomplished 'Ramkaaj' in Ayodhya and on January 23, he did 'Garibkaaj', referring to conferring the country's highest honour to the late socialist leader from Bihar. Addressing the birth centenary celebration of Karpoori Thakur, affectionately called as 'Jan Nayak', he said the Modi government has revised the OBC list, given rights to the states to prepare their own OBC list, provided reservation to OBCs in IITs and IIMs, as well as in allotment of petrol pumps. «Prime Minister Narendra Modiji ended the wait of 500 years on January 22 by consecrating Ram temple, and the very next day, on January 23, he accomplished a good deed for the poor by deciding to give Bharat Ratna to Karpoori Thakurji,» Shah said. Thakur worked for the promotion of Hindi in administration and academics, and the Modi government has been promoting local languages under the New Education Policy, the home minister added. BJP president JP Nadda said Karpoori Thakur's journey — from a financially challenged family to his relentless struggle for social justice, culminating in his role as the chief minister of Bihar — deserves greater acknowledgement.

Congress president Mallikarjun Kharge sent a letter to home minister Amit Shah, registering his concerns about the «security issues» Rahul Gandhi faced in Assam during his Bharat Jodo Nyay Yatra and sought security cover for the safety of the former party president during his yatra in the state. Kharge's letter, incidentally, came a day after the Assam Police booked Gandhi and some of his colleagues on the charge of «wanton acts of violence». In his letter to Shah, Kharge said that on many occasions during Gandhi's yatra, Assam Police has been found wanting in providing adequate security to him despite the fact he is entitled to Z+ security.

Wall Street’s main regulator is demanding more investor protections for deals involving special purpose acquisition companies, or SPACs, tightening rules on a once-popular pathway for taking firms public. 

Investor interest in the markets has been on the rise ever since the covid pandemic drove people indoors during the lockdowns. Many individuals have since been drawn to the alpha returns generated from market investments, particularly in mutual funds. That, in turn, has prompted fund managers to craft strategies delivering the best returns.

₹8,500 crore viability gap funding (VGF) scheme for coal gasification. In another decision, the cabinet committee on economic affairs (CCEA) also approved an equity investment of ₹3,799.64 crore by Coal India Ltd for setting up coal gasification joint ventures with GAIL (India) Ltd and Bharat Heavy Electricals Ltd (BHEL).

New Delhi: India has taken a strong stance on the issue of subsidies provided to poor and marginal fishermen. The country is planning to push its demand for the extension of subsidies to poor fishermen up to 200 nautical miles (nm) at the WTO Ministerial Conference (MC13), to be held from 26 February to 29 February in Abu Dhabi, a senior official said on Wednesday.

Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for attempting to “scuttle" the merger. In his letter, Subhash Chandra alleged the Indian market regulator of “acting with a predetermined mind" and requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of ZEEL".

Buddha of mosquitoes that kept him awake the entire night. The Buddha did not respond. Next day, the same disciple was whining about the quality of meals being served.

Xoriant has hired former LTIMindtree executive Mukund Rao as president for global markets, ET has learnt. Based in the US, Rao was the chief business officer of the banking, financial services and insurance (BFSI) vertical at LTIMindtree (with Mindtree before the merger with L&T Infotech) for over four years.

By Steven Scheer

Bank of America has been cutting senior bankers in Hong Kong. Bloomberg reported yesterday that the bank has let go of a number of senior dealmakers in the city, including its head of Southeast Asian ECM, Sunil Khaitan, who joined from Deutsche Bank in 2018.

Qualitek Labs IPO subscribed 58.19 times so far on Day 3; check GMP and other details The NII category was subscribed the most, 69.33 times while the retail investor quota was subscribed 37.75 times. The IPO was subscribed 35 percent on Day 1 and 7.86 times on Day 2. Investors can ascertain the quantity of shares allocated to them by referring to the basis of allotment.

The annuities business is on a tear, seeing higher sales than it has ever experienced for the second year in a row in 2023.

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NEW DELHI : The finance ministry on Wednesday notified direct listing of Indian companies on GIFT City’s exchanges, a move expected to enable startups and unlisted companies access global capital. Indian companies can now list on the financial hub’s India International Exchange and NSE International Exchange at Gandhinagar, the ministry said.

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