Provident Financial News

cross-border linkage is active for the major UPI apps such as BHIM, PhonePe and Paytm. The new functionality is set to enable Indians to receive remittances from Singapore-based Indian diaspora directly into their bank accounts. This facility can be accessed by users of BHIM, PhonePe, and Paytm apps.

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Gujarat Global Summit, Finance Minister Nirmala Sitharaman provided a comprehensive overview of the current financial ecosystem within the Gujarat International Finance Tec-City (GIFT City). Emphasizing the city's strategic importance, the Minister highlighted the significant presence of various financial entities and the thriving derivatives market. Sitharaman said, «There are now three exchanges, twenty-six banks, and twenty-six aircraft lessors in the IFSC. The GIFT City is required to host the offices of aircraft firms.

Henley Passport Index, released on Tuesday, India's passport has ascended to the 80th position worldwide. This elevated ranking now affords Indian citizens the privilege of unhindered exploration across 62 countries, alleviating the burden of intricate visa application procedures. The assessment of this ranking aligns with visa regulations effective as of January 11, as sourced from data provided by the International Air Transport Association (IATA). A cornerstone in displaying, organizing, and ranking global passports, the Henley Passport Index, reveals six countries — France, Germany, Italy, Japan, Singapore, and Spain — jointly holding the prestigious title of the world's most potent visa. Citizens from these nations enjoy the unprecedented freedom to traverse over 194 countries without dealing with pesky visa requirements. On the flip side, Afghanistan sits at the bottom rung of the list, granting its passport holders access to a mere 28 countries without a visa. Syria closely follows with visa-free entry to 29 destinations, trailed by Iraq with 31, and Pakistan with 34. Indian passport bearers can now revel in the liberty of visiting 62 countries, including Oman and Qatar, without the encumbrance of a visa. These destinations extend either visa-free entry or the convenience of visa-on-arrival for Indian travelers, as elucidated by the Henley Passport Index 2024. Here is the full list of destinations Indians can visit without getting a visa before travel:

The New York Post. Before the flight took off for Dubai, the passenger “boarded the Boeing 747 normally" but he did not take his seat. He jumped off and fell 20 feet to the tarmac.

ANI that the accused seemed unhappy with the recent court order that permitted her husband to spend time with their child on Sunday. The accused and her husband have been involved in divorce proceedings since 2022. "They got married in 2010 and their divorce proceedings started in 2022.

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Unified Payments Interface (UPI) and PayNow cross-border connection makes it possible for Indians to receive instantaneous, safe, and affordable remittances from the Indian diaspora residing in Singapore straight into their bank accounts. This facility can be accessed by users of BHIM, PhonePe, and Paytm apps. Additionally, banks such as Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India provide this functionality through their respective apps, stated a press release issued by National Payments Corporation of India. All About Tax-Saving Which banks app are supporting the linkage According to the National Payments Corporation of India (NPCI) press release, “More Third-Party Application Providers (TPAPs) and bank apps such as Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Federal Bank, HDFC Bank, IDFC First Bank, IndusInd Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, and UCO Bank are expected to be added to the linkage soon. This expansion will broaden the range of choices offered to customers.” Key benefits of receiving funds via UPI-PayNow:

Ukraine has shown the world that Russia's military can be stopped, President Volodymyr Zelenskyy said Wednesday as he began a visit to the Baltic nations in search of more help for his country against the Kremlin's larger and better-supplied forces in the 22-month-old invasion. Speaking in the Lithuanian capital of Vilnius, Zelenskyy said Ukraine still must bolster its air defenses against Russia's intensified missile and drone onslaughts and replenish its ammunition supplies as long-range strikes become the main feature of this winter's fighting. «We have proven that Russia can be stopped, that deterrence is possible,» he said after talks with Lithuanian President Gitanas Nauseda on his first foreign trip of the year. The massive Russian barrages — more than 500 drones and missiles were fired between Dec. 29 and Jan.

Australia’s online safety watchdog says the owner of the social media platform formerly known as Twitter has slashed its global trust and safety staff by 30% including an 80% reduction in the number of safety engineers since billionaire Elon Musk took ...

Reuters has reported. Among the affected workers are those working on the voice-based Google Assistant and at the augmented reality hardware team.

tax saving many often turn to the Public Provident Fund (PPF). This is because of two key factors: the tax-free yearly interest and the annual compounding effect. The extended tenure of 15 years for PPF plays a significant role in amplifying the impact of compounding, particularly in the later stages of the investment period. Further, because the interest earned is backed by a sovereign guarantee, it makes it a safe investment option. It's essential to be aware that starting from the financial year 2020-21, individuals have the choice to opt for the old/existing tax regime, which includes various deductions and exemptions like those under sections 80C, 80D, 24, and more. Alternatively, they can opt for the new tax regime, which excludes these deductions and exemptions. If an individual chooses the new tax regime in the current financial year, they won't be eligible to claim commonly availed benefits such as deductions for investments in PPF, among others. Click here for FY 2023-24 tax-saving guide So, if you select the old or existing tax regime, here is how investing in PPF can help you save tax under section 80C of the Income-tax Act, 1961.

The company is seen reporting a nearly 5% sequential rise in consolidated revenue to Rs 27,959.40 crore, and net profit is expected to increase by nearly 7% to Rs 4,085 crore, according to the average of estimates given by 11 brokerage firms. On a year-on-year (YoY) basis, the topline is expected to rise 4.7%, while the bottomline may drop a marginal 0.3%. In constant currency terms, analysts expect HCLTech’s revenue to grow 4.6% sequentially in the quarter gone by. The country’s third largest software service provider is scheduled to release its earnings on Friday, 12th January. The growth in the topline is likely to be led by the products and platform segment, with Nuvama Institutional Equities pegging a 20% sequential growth for this segment. The services vertical is expected to report a 2.5% sequential growth, driven by the Verizon deal and integration of the recently acquired German automotive engineering solutions provider ASAP Holding.

Introduction

Nikhil Gupta, a 52-year-old Indian citizen entangled in an alleged plot to eliminate Sikh separatist Gurpatwant Singh Pannun. A federal judge in New York has recently taken a significant stride to ensure transparency in the evolving legal proceedings. The legal proceedings kicked off on January 4, 2024, when Gupta's legal team submitted a motion, urging the court to compel the release of discovery materials. Responding promptly, US District Judge Victor Marrero, through a directive issued on January 8, instructed the government to provide a response to the motion within a concise three-day timeframe.

SMC Global Securities Ltd. Parag Parikh Dynamic Asset Allocation Fund will be an open-ended dynamic asset allocation fund. The investment objective of the scheme will be to generate income/long-term capital appreciation by investing in equity, equity derivatives, and fixed-income instruments.

NEW DELHI : The Union ministry of food processing industries may get a lower allocation in the interim budget for FY2024-25 following lower expenditure in the ongoing financial year, a senior MoFPI official said. The ministry has spent about ₹2,912 crore so far in FY2023-24, against the budget estimate of ₹3,287 crore for the financial year.

Standard deduction is one of the most widely used deductions as salaried taxpayers can claim it without making any investments. There has been a longstanding demand to increase the standard deduction limit. The demand has become louder after standard deduction was made a part of the new income tax regime last year. It has been almost five years since standard deduction was revised; the previous instance was in 2019. Though 2024 will see only an interim budget, middle-class taxpayers are eagerly hoping Finance Minister Nirmala Sitharaman will roll out some tax sops. Will the Budget 2024 raise standard deduction from Rs 50,000? This is what experts are saying:

The SEC has at long last approved spot-price bitcoin ETFs, though it did not do so entirely willingly and will all but certainly be watching product providers very closely.

Maharashtra Assembly Speaker Rahul Narwekar on Wednesday declared the Eknath Shinde faction as the real Shiv Sena, the chief minister took a swipe at the Uddhav Sena and its MVA partner Congress, saying that the ruling came as a 'shock' to «people who run political parties through dynasties». Speaking to reporters after the Speaker's ruling dealt a numbing blow to the Uddhav faction, which has been at loggerheads with the rival group led by Shinde, the CM said, «This is the victory of truth, of democracy. This is the victory of Shiv Sena workers and the people of Maharashtra.

derogatory remarks against Prime Minister Narendra Modi, Maldives Deputy Youth Ministers Mariyam Shiuna, Mahzoom Majid and Malsha Shareef have been suspended indefinitely, but all three will continue to receive their salaries, the President's Office has said, Maldives local media Adhadhu reported. Providing further information about the suspensions, Maldives President's Office Communications Minister Ibrahim Khaleel told Adhadhu that the three deputy ministers were suspended indefinitely as a measure taken to look into the matter.