Provident Financial News

State Bank of India on 1 November announced to have raised ₹10,000 crore at a coupon rate of 7.81 percent through its first Basel III compliant Tier 2 Bond for the current financial year – FY 2023-34. The SBI informed that the bonds are issued for a tenor of 15 years, with the first call option after 10 years. Providing more information, the bank said that its first Basel III compliant Tier 2 Bond attracted an overwhelming response from the investors with bids of ₹15,907 crore and was oversubscribed almost 4 times against the base issue size of ₹4,000 crore with 98 bids.

Kestra Private Wealth Services has added two teams to its network, with a combined $850 million in client assets.

The private credit market is gaining traction as investors across the spectrum seek better returns and greater diversification.

DeFi project Onyx Protocol has fallen victim to a security breach, losing more than $2 million worth of crypto assets.

Shapoorji Pallonji Real Estate on Wednesday said it has launched two housing projects in its 200 acre-township in Pune and is expecting a revenue of around Rs 1,500 crore from them. In a statement, the company said it is developing a 200 acre-urban development project 'SP Kingstown' in Pune's Hadapsar Annexe.

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privacy is a rising concern, WhatsApp, the Meta-owned messaging platform, is set to roll out a new feature called 'Alternate Profile.' Currently under development and not yet available to beta testers, this new feature aims to provide an additional layer of privacy for users, allowing them to mask their original profiles. The Alternate Profile feature enables users to configure a different photo and name that will be visible to contacts who cannot see their primary profile information. This means that individuals outside the user's contact list will have access to the alternate profile picture and name.

Jal Jeevan Mission, according to official data. The government's flagship initiative — launched in 2019 — aims at providing safe and adequate drinking water through individual household tap connections to all households in rural India by 2024.

Nita Ambani, the Reliance Foundation Chairman, turns 60 today. Married to business magnate Mukesh Ambani, the patriarch of Reliance Industries, over the years, she has managed to carve her own individual identity as a noted cultural patron and entrepreneur. One of the most influential figures in India’s business sector, Ambani has diversified her portfolio extensively throughout the years.

How Europe’s new digital law will change the internet It's worth noting that Norway's data protection authority had advocated for this Europe-wide ban after previously implementing restrictions on Meta's behavioral advertising in July, as per the report. These restrictions centered on tracking user activity on social media platforms in great detail and creating user profiles based on their interests, location, and content preferences. Furthermore, in August, the Norwegian agency imposed a daily fine of 1 million kroner ($90,000) on Meta for failing to comply with the ban.

US Fed policy outcome: 6 key things that will be in the Fed's mind before making a rate decision today (Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) Barring a few, experts do not expect the Fed to surprise the market by raising or cutting rates as the US economy remains strong and inflation remains above the Fed's 2 per cent target.

cooking technology, offering a faster, safer, and more energy-efficient way to prepare your favourite dishes. What sets them apart is their ability to generate heat directly in the cookware through electromagnetic fields, bypassing the traditional method of heating a burner. This means quicker cooking times, precise temperature control, and a safer cooking experience.

The festive season is finally here and, as always, real estate developers have started betting big on it. Buyers prefer making big-ticket purchases during this period as it is considered auspicious by a majority of them. Sales of all kinds of things soar during the festive time — including those of real estate. Thankfully, housing sales in the nation’s top 7 cities have already remained at an all-time high in Q3 2023, denoting a 36% annual growth at over 1.20 lakh units, and are expected to rise further during this time despite rising property prices.

As of match number 31, the points table positioning has only got more interesting with no team having secured a place after six games played by each one. The hosts India are leading the table with remaining undefeated so far in the tournament and have 12 points in their kitty. Meanwhile, South Africa boast a splendid Net Run Rate (NRR) of +2.032 and 10 points in six matches. New Zealand and Australia are in the third and fourth position respectively with 8 points and a minor difference in the NRR. That said, three league matches left for each team except Pakistan and Bangladesh, signal significant and genuine chances for teams including Afghanistan, Sri Lanka and Netherlands to claim a semifinals’ spot.

Two little-known Queensland businessmen have become the beneficiaries of hundreds of millions of dollars in dividends paid by their private coal operations, with one, Sam Chong’s Jellinbah Group, paying out $900 million in returns to its owners in the past 12 months alone.

Ram Temple in Ayodhya to have an eight-foot-tall gold-plated marble throne for Ram Lalla's idol, which is currently being crafted by artisans in Rajasthan. As per a TOI report, the throne is set to arrive in Ayodhya by December 15, as confirmed by Anil Mishra, member of Shri Ram Janmabhoomi Teerth Kshetra Trust. The sanctum sanctorum of the Ram Temple will be the designated spot for this magnificent throne.

«There is no structural change in the industry and majority of our revenue is coming from the medtech industry, the imaging industry and the dilution of the margins has been a global phenomenon for the chemical industry and we are in performance chemicals,» says VK Singh, COO, Blue Jet Healthcare. Meanwhile, Shiven Arora, MD, Blue Jet Healthcare says, " See, across three business verticals, we have invoiced to about 400 customers across 39 countries in the past three years. We feel that there is enough and more depth in the customer profile that we have today." This is a complete OFS and no money is coming in the company. But for the investors, tell us about how do you see yourself growing in the three segments that you have presence in? You have a good presence in the API, CDMO, you have the sweetener segment as well. So going ahead, which one do you believe will drive the growth for the company? VK Singh: Yes, there is no money coming into the company but then for all three segments, we have demonstrated an excellent growth over the last three, four years and we believe that we will maintain this momentum. Let me talk about your numbers now, if you look at your margins, they have actually seen a decline and when I talk about decline, I am talking about it being approximately 42% in FY21. Now, if you see in the quarter, in Q1 of FY24, that is, that the margin figure has come down to about 33% or so. If you could tell us why is there a decline in the margins over that period? Also, what is your outlook going ahead for the margin and if possible, if you could give us a sustainable level that you are envisaging when it comes to the margins for your company? VK Singh: See, there is no structural change in the industry

Domino’s Pizza Enterprises chief executive Don Meij says the company will spend this year “rebuilding”, telling shareholders at its annual meeting in Brisbane that a cost-cutting program was on track.

Just last month, Israeli Prime Minister Benjamin Netanyahu predicted a new era of peace and prosperity in the Middle East, based on growing acceptance of Israel within the region

A U.N.-appointed human rights expert and opponents of Myanmar’s military government have welcomed the latest sanctions imposed by the U.S., U.K. and Canada on companies providing financial resources to the army-installed regime and high-ranking officials

Automaker Stellantis says that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its North American competitors