Business

[ad_1] Are you a central government employee looking to secure financial stability after your retirement but fear NPS is too risky? There is a major decision awaiting for you. On April 1, 2025, the central government rolled out a new pension scheme for its workers, called the Unified Pension Scheme or UPS which offers to provide a fixed pension to employees upon retirement. This scheme gives employees an option to drift away from the NPS or National Pension System which offered an unfixed pension amount, based on the corpus accumulated at retirement and the annuity purchased. Is UPS different from NPS?Under UPS, government employees who have completed at least 25 years of service will receive a fixed monthly pension amounting to 50% of their average basic pay during the final 12 months before retirement. However, they must have completed at […]

[ad_1] Tripura government has been working to develop an infrastructure to support AI and 5G network in the state. CM Manik Saha said that AI reduces operational complexity by using smart algorithms to perform a variety of tasks, leading to faster performance, greater efficiency, and lower costs.Simultaneously, 5G technology transfers information quickly. He also said that combining these two technologies would lead to greater innovation and some very interesting applications.Speaking at a special session called ‘IT for Ashtalakshmi: Beyond the Bits and Bytes, Into AI and 5G’ during the Rising Northeast Investors' Summit 2025 in New Delhi, Saha praised the ministry of development of north eastern region (DoNER) for hosting the event.Highlighting the synergy between emerging technologies, Saha said, “It is a symbiotic relationship between 5G and AI.”“As AI expands, the cost of connectivity continues to decline. The convergence of […]

[ad_1] Banks across the country will remain closed today, on May 24, in observance of the fourth Saturday of the month. According to the Reserve Bank of India’s (RBI) official calendar, banks remain shut on every second and fourth Saturday.Customers can verify whether banks are open or closed by checking the RBI’s official website.This holiday applies to all banks regulated by the RBI nationwide. Physical branch services such as cash deposits and withdrawals, account openings, cheque clearances, loan processing, approvals requiring manual intervention, and other documentation-related services will not be available today.However, digital banking services remain operational. Customers can continue to use mobile banking apps, ATMs, and electronic payment systems like NEFT, RTGS, and IMPS to pay bills, transfer money, and carry out other transactions without interruption.The RBI calendar also specifies regional bank holidays. Apart from weekends, upcoming holidays in […]

[ad_1] Foreign portfolio inventors, this week, reversed May’s overall net inflows, withdrawing Rs 4,84.32 crore between May 19 and May 23. The FPIs turned net sellers in Indian equities, as the total investment now stands at Rs 13, 835 crore, down from the Rs 18,620 crore registered over the previous week, the data from National Securities Depository Ltd reported, quoted by ANI.The data shows that foreign investors pulled out almost Rs 4,800 crore worth of investments just in five trading sessions.This withdrawal came despite a strong start to the week, with positive inflows reported on Monday and Tuesday. The bulk of this sharp sell-off came on Wednesday, May 21, when FPIs dumped over Rs 10,000 crore worth of shares in a single trading session. With this week's selling spree, foreign investors have now pulled out a net Rs 98,516 crore […]

[ad_1] The central government has approved an 8.25% interest rate on Employees' Provident Fund (EPF) deposits for the fiscal year 2024-25, benefiting over 7 crore salaried employees. This rate, unchanged from the previous year, follows a record income of Rs 1.07 lakh crore. EPFO also reported a significant increase in auto-claims settlements, reaching 2.16 crore as of March 6, 2025. The central government has approved an interest rate of 8.25 per cent on Employees' Provident Fund (EPF) deposits for the fiscal year 2024–25, an official confirmed to PTI on Saturday.This rate was recommended earlier this year by the Central Board of Trustees of the Employees' Provident Fund Organisation (EPFO). The decision is expected to benefit over 7 crore salaried employees across India.The approved rate remains unchanged from 2023–24, when EPFO credited 8.25 per cent based on an all-time high income […]

[ad_1] Multimodal transport services provider Blue Water Logistics announced on Saturday that it has fixed the price band for its upcoming initial public offering (IPO) at Rs 132–135 per share. The Rs 40.5-crore IPO will open for subscription on May 27 and close on May 29, the company said in a statement.The shares are set to be listed on the NSE Emerge platform. Investors can bid for a minimum of 1,000 equity shares and in multiples thereafter.The IPO comprises a fresh issue of up to 30 lakh equity shares. At the upper end of the price band, the company expects to raise approximately Rs 40.50 crore, PTI reported.Of the net proceeds, Blue Water Logistics plans to allocate Rs 10.51 crore towards capital expenditure and Rs 20 crore for meeting working capital requirements. The remaining funds will be used for general […]

[ad_1] State-owned power major NTPC on Saturday reported a 22 per cent rise in its consolidated net profit to Rs 7,897.14 crore for the March quarter of FY25, boosted by increased revenue from its generation business.The company had posted a profit of Rs 6,490.05 crore in the same quarter of the previous year, according to its exchange filing.NTPC's total income grew to Rs 51,085.05 crore in the March 2025 quarter, up from Rs 48,816.55 crore in Q4 FY24. Revenue from its core generation segment stood at Rs 49,352.99 crore, compared to Rs 47,088.70 crore a year earlier.For the full financial year FY25, NTPC’s net profit rose to Rs 23,953.15 crore from Rs 21,332.45 crore in FY24. Total income for the year increased to Rs 1,90,862.45 crore, up from Rs 1,81,165.86 crore in the previous fiscal.The company also saw an improvement […]

[ad_1] Asian currencies are expected to appreciate against the US dollar in the long term, driven by higher gross national savings in emerging Asian economies compared to developed G7 nations, according to a recent report by Jefferies.The report pointed out that the gross national savings in emerging Asian countries are significantly higher, providing these economies with a robust foundation for currency strength. “The most likely currency bloc to enjoy long-term appreciation against the US dollar remains Asian currencies in what amounts to a reversal of the dynamic triggered by the Asian Crisis nearly 30 years ago,” the report noted as quoted ANI.This shift, the report added, not only stems from changes in US trade policies under the Trump administration but also reflects the growing financial strength of many Asian countries.The Jefferies report further highlighted that the Trump administration’s focus on […]

[ad_1] India has officially surpassed Japan to become the fourth largest economy in the world, according to NITI Aayog CEO B V R Subrahmanyam. Speaking at a press briefing following the 10th Governing Council meeting of NITI Aayog on Saturday, Subrahmanyam highlighted the favourable geopolitical and economic conditions for India."We are the fourth largest economy as I speak. We are a $4 trillion economy as I speak," Subrahmanyam said, as quoted PTI.Subrahmanyam cited IMF data, which confirms that India’s economy is now larger than Japan’s. "It is only the US, China, and Germany which are larger than India, and if we stick to what is being planned and what is being thought through, in 2.5-3 years, we will be the third largest economy," he added.ALSO READ | Top 10 Largest Economies In The World 2025: India Set To Overtake Germany, […]