Prince Harry makes debut stand-up appearance for Heroes benefit in New York
Prince Harry, the Duke of Sussex, made his comedic debut at the 17th Annual Stand Up for Heroes benefit in New York. The event, which focuses on aiding veterans and their families, took a light-hearted turn as the 39-year-old royal entertained the audience with his sense of humor. Key Points
Economic TimesMahindra XUV400, XUV300 and other SUVs get discount up to ₹3.05 lakhs this festive season: Details
Mahindra and Mahindra has announced substantial discounts on select models for November, offering benefits up to ₹3.50 lakh on models such as the XUV400, XUV300, Bolero, Bolero Neo, and Marazzo. Key Points
mint'US, not India, creating hurdles by blocking judges' appointment': Experts
The US blocks WTO appointments, hindering negotiations and voice of Least Developed Countries. India's Joint Statement Initiative on Services Domestic Regulations benefits developing countries. Key Points
Economic TimesNo proposal to hike PM-KISAN amount from Rs 6,000/yr: Agriculture Minister Arjun Munda
The government has no proposal to increase the financial benefit to farmers under PM-KISAN scheme to Rs 8,000-12,000 per year, including for women farmers. Launched in 2019, PM-KISAN provides eligible farmers a financial benefit of Rs 6,000 per year. The government has disbursed over Rs 2.81 lakh crore to more than 11 crore farmers. PM-KISAN is one of the largest Direct benefit Transfer (DBT) schemes. Key Points
Economic TimesUnitedHealth's unit to add eight insulin products to its reimbursement list
UnitedHealth's (UNH.N) pharmacy benefit manager unit said on Thursday it was adding eight insulin products to its reimbursement list that would limit out-of-pocket spend to $35 or less. Key Points
Reuters
LIC Jeevan Utsav: New life insurance plan launched with lifetime guaranteed returns
LIC Jeevan Utsav offers life insurance coverage for the duration of the policy holder's life is a plus point. LICs Jeevan Utsav is a non-linked, non-participating, individual, savings, whole life insurance plan. Key Points
Economic TimesEDLI: How to make insurance claim under Employees’ Deposit Linked Insurance Scheme, documents needed
EDLI works in tandem with the EPF and the Employees' Pension Scheme (EPS). If an accident occurs during the individual's active service time, the nominee will get a lump-sum insurance pay-out. Key Points
Economic TimesCanara HSBC iSelect Smart360: From benefits, to options; all you need to know
Canara HSBC iSelect Smart360 is a term insurance plan that provides financial support to the family in the event of the policyholder's demise. It offers three options for coverage and allows for the customization of death benefit payment options. Key Points
mintEmployees Deposit Linked Insurance Scheme: Calculation of assurance benefit under EDLI Scheme
The EPFO offers the EDLI scheme to private sector salaried employees. This system works in tandem with the EPF and the Employees' Pension Scheme (EPS). Key Points
Economic TimesThis Indian state announces year-long maternity leave, one month of paternity leave for govt employees
The stated government has announced that it will provide one year of maternity leave and one-month paternity leave to its employees. Changes will be made to service rules to implement this benefit. Key Points
mint
Sugar, FMCG sectors can be part of the portfolio now: Anshul Saigal
Kotak Mahindra AMC's CIO, Anshul Saigal, believes that the sugar industry is attractively poised due to rising prices and improved industry structure from the ethanol policy. However, the agrarian stocks like UPL, Rallis, and Tata Chemicals have consistently failed to deliver despite their potential. Saigal suggests splitting the sector into various buckets, such as agrochemicals, food-related sectors, and those that benefit from food price increases, and investing in the sectors that suit an investor's needs at a given time. Key Points
Economic TimesSEBI should retrospectively tighten FPI disclosure norms it was ‘forced to dilute’ to benefit Adani, claims Cong
The real question, he said, is “who is the owner of the Rs 20,000 crore that have been invested via shell companies in the Adani group. Only a JPC can bring out the truth of the Modani scam. We will continue to demand it,” he said. Key Points
The Indian ExpressRevenue Secretary explains how removal of indexation will only benefit most property sellers, not hurt the
Budget 2024 removed the indexation benefit hitherto applicable to property sale. Till now, LTCG on property sale was being taxed at 20% with indexation benefit. Now, the rate stands reduced to 12.5%, but the seller will have no indexation benefit. Key Points
Economic TimesEWS students: Hope for kids to study beyond Class 8
Under the RTE Act, economically weaker students who passed Class 8 will continue studying till Class 12 with the support of benevolent people and CSR funding. An NGO, Rightwalk Foundation, is seeking funds from people to contribute to the fees of poor children. The money will be credited directly to the school?s account every six months. At least 50 students will benefit from this initiative. Key Points
Hindustan TimesUttar Pradesh government waives farmers’ power bills for private tube wells
According to Sharma, on average, 8 to 10 farmers benefit from one tube well in terms of irrigating their fields, thus the total number of beneficiaries of the scheme will reach about 1.5 crore in Uttar Pradesh. Key Points
Hindustan Times
Rupee depreciation may push up garment, handicraft exports
If the rupee depreciates about 10% and the import content in the product being exported is 20%, the net gain to exports would be 8%, said industry experts. One can also get the benefit while negotiating contracts. If an exporter hasn't hedged, then they would get windfall gains during the period of depreciation, but most of the time, inflation nullifies the benefit given by deprecation, said Ajay Sahai, director general, Federation of Indian Export Organisations. Key Points
Economic TimesULIPs and NPS: What are the tax benefits you can expect? Arnav Pandya explains
Arnav Pandya says: If you are just looking at the tax benefit, you do consider one thing that it is very likely that the amount which you invest on which you think you will get a deduction, you are not going to be able to access for a very long time. So that is very important to consider because if you are going to lock in your money for 25 years, then the tax benefit per se might not seem very significant. Key Points
Economic Times‘As dumping of chemicals by China recedes, 3 companies to benefit most’
“The demad for chemicals will start improving in China soon. When this happens, the intensity of predatory pricing or dumping recedes and we expect it to happen in the coming months. This will benefit more and more Indian players such as Alkyl Amines, Deepak Fertilisers, Deepak Nitrite and other players as well.” Key Points
Economic TimesPost Office Term Deposit Vs Tax-Saver FDs: Interest rates compared - which one should you opt for?
Financial Literacy News: Every quarter, the government updates the interest rates of small savings schemes. For the April-June 2024 period, the rates remain unchanged for all 10 schemes, including the 5-year Post Office Time Deposit (POTD). Additionally, many banks provide tax-saving benefits on 5-year fixed deposits. Key Points
Times Of IndiaCorporate tax rate cut led to rise in pvt investments, credit growth: FM Sitharaman
Finance minister Nirmala Sitharaman stressed the positive impact of the corporate tax rate cut on private investments and credit growth. She emphasized the need for capacity expansion in high employment potential areas. India is negotiating free trade agreements and has facilitated direct benefit transfers. Key Points
Economic Times
MC13: Talks on new issues yield five outcomes
Amid pressure, New Delhi said that at least five outcomes were in place at the World Trade Orgnaisation MC13, including new disciplines on services domestic regulation. The developing countries are facing demands from richer nations regarding environment, labour, and gender issues. Key Points
Economic TimesLiquidity and tax implications should be key factors for investing in any instrument: Shweta Rajani
Shweta Rajani says that when making investment decisions, it is important to consider taxation and avail tax-saving provisions like Section 80C. The approaching deadline for LTCG tax highlights the implications of selling various capital assets. ELSS is the preferred investment option over PPF and NPS due to higher returns and shorter lock-in. Key Points
Economic TimesGiving your partner the benefit of doubt: Here's what it looks like
Giving the partner the benefit of doubt helps in improving emotional intimacy. here's how we can practice it in our relationships. Key Points
Hindustan TimesThe way VP Dhankhar handled mimicry issue was not right, says RLD chief Jayant Singh
To bring caste into everything (is not good). The section of the Constitution under which he has taken oath as the VP, nowhere does it say that you can raise the point of your caste affiliations to benefit the ruling party. So, the way he (Dhankhar) also handled the issue was not right, Singh, a Rajya Sabha MP and prominent Jat leader, told reporters. Key Points
Economic TimesNifty IT index stocks: Will strength in US dollar help in reviving them?
With some strength in the US dollar coming back, there is global trade which is getting started, metal prices have come down and sectors, which benefit from weaker local currencies have seen a recent bump up. The question is whether the domestic IT companies, which have been witnessing a phase of underperformance, especially the largecaps, will have any recovery due to the rupee factor? Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. Key Points
Economic Times
Midcaps dominate analysts’ stock picks in festive season. Check top ideas
Small- and mid-cap stocks have trounced their larger peers this year amid bets that domestic-facing names will benefit more from the nations economic growth that is among the worlds fastest. The S&P BSE MidSmall Cap Index has surged 30% since Jan. 1, more than four times the gain in the benchmark S&P BSE Sensex Index. Key Points
Economic TimesBMC can’t deny pandemic period rebate to builders while renewing approval, says HC
The Bombay High Court has ruled that the Brihanmumbai Municipal Corporation (BMC) cannot deny a 50% premium rebate for construction projects cleared during the pandemic at the time of renewal of the intimation of disapproval (IOD). The court directed the BMC to issue commencement certificates for eight projects that were held up due to non-payment of the full premium by developers. The court stated that the rebate and the pre-condition of paying stamp duty go hand in hand and cannot be separated. | Mumbai news Key Points
Hindustan TimesIndia's Reliance climbs on Q2 profit jump
Shares of India's most valuable company Reliance Industries (RELI.NS) rose as much as 2% on Monday after it reported a bigger second-quarter profit late on Friday. Key Points
ReutersHow will lower import tax duties for Tesla EVs impact Indian car makers?
The Indian government is considering a new electric vehicle (EV) policy that would reduce import taxes for car companies, potentially allowing high-end EV manufacturers like Tesla to enter the Indian market. Under the policy, carmakers committed to local manufacturing would receive a substantial tax cut. Presently, cars priced above $40,000 face a 100% import tax, but the new policy could lower the tax rate to as low as 15%. This move could benefit Tesla and other luxury car manufacturers, but may pose challenges for local mass-market car manufacturers. Key Points
Economic TimesForget Vedanta, look at rest of the metal pack: Daljeet Singh Kohli
Daljeet Singh Kohli, Head of Strategy & Research at Vasuki India Fund, advises retail investors to refrain from buying or staying in Vedanta due to its demerger exercise, which he believes is primarily a debt management exercise rather than value unlocking. He suggests that it may take 12 to 15 months for any major benefit to be realized, making it a long-term investment. However, Kohli remains positive on the metal pack and recommends exploring other options within the sector. He also expresses positivity towards PSU banks. Key Points
Economic Times
IRFC top gainer on the Street in September. Should you buy at current levels?
The union government is planning to seek Cabinet approval for a Rs 5.25 lakh crore investment programme during fiscal years 2024-31 to improve rail connectivity, which analysts believe will benefit the company. Despite a stellar jump in share price during the month, there were signs of profit booking among rally in railway stocks including in IRFC towards the end. Key Points
Economic TimesRs 17,000 crore under PM-KISAN released by PM Modi will benefit farmers from across the country: Tripura C
Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, the 14th instalment amounting to approximately Rs 17,000 crores was directly transferred to more than 8.5 crore beneficiaries, offering much-needed financial support to farmers. Key Points
Economic TimesSiddaramaiah govt set to launch DBT scheme on Monday, but 22 lakh BPL families in Karnataka may not get benefits
Karnataka Chief Minister to launch Direct benefit Transfer under Anna Bhagya scheme, but 22 lakh BPL families may not receive assistance immediately due to lack of bank accounts. 82% of ration cards are linked with active bank accounts. Key Points
mintWhat exactly is an annuity plan? Naval Goel explains
It is a very simple product usually used for retirements. What happens in annuities, you pay a certain amount to the insurance companies and they in turn promise to pay you a monthly or an annual income or a quarterly income. Key Points
Economic TimesChinese technicians, engineers may get faster visas for work
There are some sectors which require technicians to come to set up plants here and that's a good idea as it will benefit our manufacturing and exports. We will raise it with the external affairs ministry, said an official, who did not wish to be identified. Exporters have raised the issue of delay in visas to Chinese technicians, which is affecting companies such as those making non-leather footwear and sports shoes in commencing their operations. Key Points
Economic Times
Govt sets up Centre for Processing Accelerated Corporate Exit
The establishment of the C-PACE will help to reduce the stress on the Registry along with keeping the registry clean besides availability of more meaningful data to the stakeholders. The C-PACE will also benefit the stakeholders by providing hassle-free filing, timely and process-bound striking off their company's names from the register, the corporate affairs ministry said in a release. Key Points
Economic TimesMuses upon muses inside the Met Gala cocktail party
Supermodels like Kate Moss cherished the intimacy they shared with Lagerfeld. Moss recalled working with the designer, as well as his infamous largesse. Key Points
The Indian Express