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Bloomberg Quint
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Income Tax Returns: How To Resolve A ‘Bank Account Validation Error’ While Filing ITR? A Guide
- Filing an Income Tax Return (ITR) is essential, and bank account validation is a crucial step to ensure refunds and tax deductions.
- Bank account validation error occurs when the submitted account details cannot be verified.
- Reasons for the error include unlinked bank account and incorrect account details.
- Steps to re-validate bank account: log in to e-Filing portal, visit 'My Profile', select 'My Bank Account', go to 'Failed Bank Accounts' tab, click 'Re-Validate', verify and update details, and click 'Validate'.
- Ensuring PAN linkage with the bank account and updating details can efficiently resolve the error.
- ITR filing for FY 2024-25 (AY 2025-26) has commenced.
- Bank account validation is crucial for receiving refunds and deductions.
- Errors can arise from unlinked PAN, incorrect account details, or closed/dormant accounts.
- Steps to re-validate: log in, navigate to 'My Profile' and 'My Bank Account', choose 'Failed Bank Accounts', select 'Re-Validate', update details, and click 'Validate'.
- Verifying account details and keeping them updated is essential for hassle-free ITR submission.
- Early filing and accuracy in account details are key for a smooth ITR process.
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Bloomberg Quint
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CLSA's Twin Bets: Bullish On Bandhan Bank And Prestige Estates, Sees Valuation Gaps As Unwarranted
- CLSA is bullish on Bandhan Bank and Prestige Estates Projects, citing solid fundamentals, scale, and momentum despite short-term hiccups.
- Bandhan Bank's March quarter showed mixed performance with higher slippages impacting profits, but early stress indicators are improving. The bank aims for stabilizing credit costs in the second half of fiscal 2026.
- Prestige Estates Projects, a leading housing developer, is excelling in South India with strong presales momentum and aggressive launches. It is undervalued compared to peers.
- Prestige has a significant launch pipeline and unsold inventory, projecting strong performance. It aims to reach the top position in presales by fiscal 2026.
- Despite its size and operations, Prestige trades at a low EV/cash EBITDA multiple compared to peers, indicating a substantial valuation gap as per CLSA.
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Bloomberg Quint
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Wealth Builders: Five Best Alternatives To Fixed Deposits for Indian Investors
- Fixed Deposits (FDs) are a popular investment option in India known for their stable returns and immunity to market fluctuations.
- Despite their reliability, FDs struggle to beat inflation, prompting investors to explore higher-return alternatives.
- Five alternatives to FDs for Indian investors include Debt Mutual Funds, Public Provident Fund (PPF), Real Estate Investment Trusts (REITs), Government Securities, and National Savings Certificate (NSC).
- Debt mutual funds invest in fixed-income securities like government and corporate bonds, offering steady returns with lower volatility than equity funds.
- PPF, a government-backed scheme with a 15-year lock-in period, provides guaranteed returns, tax benefits, and a competitive interest rate compared to FD schemes.
- REITs enable investment in real estate assets without owning physical property, offering potential dividends of 6% to 8% annually and liquidity on stock exchanges.
- Government Securities, including T-bills and government bonds, cater to both short-term and long-term investment needs.
- NSC, backed by the government with a five-year lock-in period, offers stable returns and tax benefits through post offices.
- Diversifying investment portfolios based on risk tolerance, investment horizon, and financial goals can help maximize returns while managing risks effectively.
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Bloomberg Quint
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Next Wave Of Internet IPOs To Ride On Profitability, Not Hype: BofA
- India's digital listings are classified into three cohorts by BofA: early birds, underperformers, and upcoming profitability-focused players.
- India is the world's third-largest tech maiden offering hub, following the US and China.
- Cohort 1 (2021–22) companies like Zomato and Nykaa set benchmarks for success despite initial losses.
- Cohort 2 (2024) companies like Swiggy and MobiKwik are struggling to meet IPO valuations, while others like Ixigo are performing well.
- Cohort 3 comprises future players prioritizing profitability over just growth for public market success.
- Key sectors like online travel and quick commerce are seeing growth, with companies like MakeMyTrip and Zomato leading the way.
- India's AI sector is focusing on agentic AI and application-layer innovations, with potential in chip design startups.
- Fintech startups in India are diversifying into lending and insurtech due to challenges in payment monetization.
- Direct-to-consumer brands are growing rapidly, leveraging platforms like Blinkit and Instamart, but facing challenges in loyalty and profitability.
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Bloomberg Quint
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Petrol, Diesel Prices Unchanged On June 17; Here's How Much You Pay For Fuel Now
- Fuel prices remained unchanged on June 17 across all metro cities in India.
- The last significant revision in petrol prices occurred in March 2024, with a reduction of Rs 2 per litre.
- As of June 17, 2025, in Delhi, petrol is priced at Rs 94.77 per litre and diesel at Rs 87.67.
- In Mumbai, petrol costs Rs 103.50 per litre, and diesel is priced at Rs 90.03.
- Chennai's petrol price stands at Rs 100.80 per litre, with diesel at Rs 92.39.
- In Kolkata, petrol is sold at Rs 105.41 per litre, and diesel at Rs 92.02.
- Fuel prices in India have been stable since May 2022 following tax reductions by the central and state governments.
- Oil marketing companies like Indian Oil Corporation review petrol and diesel prices daily based on global crude oil prices and exchange rates.
- Price adjustments are made at 6 a.m. at fuel stations.
- The pricing method considers factors like international crude prices, rupee-dollar exchange rates, demand, and global trade flow.
- Oil prices rose after President Donald Trump's call for Tehran's evacuation and potential supply disruptions.
- Brent crude prices had dropped below $59 in May but have since recovered amid geopolitical tensions.
- The oil market remains volatile due to ongoing trade conflicts and changes in OPEC+ strategies.
- On Tuesday, oil reached above $73 a barrel with fluctuations influenced by geopolitical developments.
- Overall, fuel prices are influenced by global factors and geopolitics in addition to domestic considerations.
- The article provides insights into fuel pricing dynamics and global factors affecting oil markets.
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Bloomberg Quint
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Oil Resumes Advance After Trump Calls For Evacuation Of Tehran
- Oil prices rose after President Trump called for the evacuation of Tehran amid escalating tensions.
- West Texas Intermediate reached above $73 a barrel, climbing 2.7% earlier.
- Iran's crude-exporting infrastructure remains unaffected, with no signs of Tehran escalating hostilities by blocking the Strait of Hormuz.
- Navigation signals in the region are facing interference, affecting shipping operations.
- Oil prices are higher due to producer hedging and increased risk from the conflict.
- President Trump's call for evacuation followed Israel's attacks on Iran's nuclear sites.
- Israel claimed to have control over Iran's airspace and damaged critical missile and nuclear facilities.
- WTI for July delivery rose to $73.28 a barrel, while Brent for August settlement increased to $74.53 a barrel.
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Bloomberg Quint
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Iran-Israel Conflict: Donald Trump Urges People To Evacuate Tehran 'Immediately'
- Prime Minister Benjamin Netanyahu claims Israel 'controls the skies over Tehran' and aims to destroy Iranian nuclear threats.
- President Donald Trump urges immediate evacuation of Tehran and criticizes Iran for not signing the nuclear deal with the US.
- Trump warned Iran on June 13 to reach a nuclear deal with the US or face escalating attacks after Israel's airstrikes on Iran.
- The ongoing conflict over Tehran's nuclear program raises the potential for a new war in the Middle East.
- Trump desires an agreement to limit Iran's nuclear program and prevent it from acquiring nuclear weapons, threatening military action if the deal is rejected.
- Israeli Prime Minister Netanyahu asserts progress in neutralizing Iranian nuclear and ballistic missile threats by controlling the skies over Tehran.
- Iran's attacks on Israel have led to 24 Israeli casualties and over 300 injuries since Friday, with the Israeli Defense Forces intercepting most of the 335 missiles and drones fired by Tehran.
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Bloomberg Quint
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Stock Market Today: All You Need To Know Going Into Trade On June 17
- The NSE Nifty 50 and BSE Sensex closed higher on Monday, with foreign portfolio investors selling stocks and domestic investors buying for the 22nd consecutive session.
- Global markets turned cautious following former US President Donald Trump's comments on Tehran, impacting Asian markets.
- Oil prices rose due to supply disruption fears after Trump's call for evacuation and Israel's promise of more strikes.
- Stocks to watch include Zee Entertainment, Biocon, Vishal Mega Mart, Tata Consultancy Services, and other companies with significant corporate actions.
- IPO offering updates on Oswal Pumps, block deals in Asian Paints and Solara Active Pharma Sciences, and insider trades were highlighted in the market activity.
- Trading tweaks, F&O cues, and currency/bond updates were provided, giving a comprehensive overview of the market scenario.
- The Indian rupee closed stronger against the US dollar, and the 10-year government bond yield decreased.
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Bloomberg Quint
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Why Ugro Capital's CCD Issue Is In The Eye Of An Investor Storm
- Ugro Capital is facing scrutiny over its cash return structure for a fund-raising round involving CCDs and a rights issue.
- Investor advisory firm IiAS has raised concerns that the structure unfairly compensates warrant holders.
- The fund-raising began in 2024 with warrants and CCDs but faced scrutiny due to share price drops below conversion prices.
- In 2025, Ugro proposed a rights issue and CCDs issuance with terms favoring non-conversion by warrant holders.
- The additional interest for not converting warrants raises questions of shareholder treatment equality and potential losses.
- Ugro claims CCDs are not linked to warrants legally, but IiAS points out potential impacts on profitability.
- The coupon payout from the proposed structure could exceed Ugro's FY25 pre-tax profit.
- Ugro's response regarding the link between CCDs and warrants raises further questions about the structure.
- E-voting for the postal ballot on this issue closes on June 19, 2025.
- The high-cost and high-dilution equity raise strategy by Ugro has raised eyebrows in the market.
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Medium
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Venture Capital Challenges No One Talks About and the Misleading Glamor
- Early-career VCs face challenges in deal sourcing, networking, and recognition within the industry.
- Breaking into venture capital is difficult due to limited open roles and the significance of networks and value contribution.
- Junior VCs struggle to establish credibility and influence investment decisions due to hierarchy and power dynamics within firms.
- Success in VC demands patience, navigating power dynamics, and understanding the long-term nature of investments.
- Venture capital requires independent work, personal hustle, and a focus on networking and relationship-building externally.
- The career path in VC is not uniform, with power concentrated at the top and challenges for junior team members to advance.
- Building trust, establishing credibility, and finding a niche are crucial for success in venture capital.
- Success in VC is a long game that requires consistency, patience, and adaptation to the ever-changing market conditions.
- VC is about more than just picking startups; it involves earning trust, network-building, and trend shaping.
- Investors in venture capital must remain unfazed by challenges, setbacks, and uncertainties to build a lasting and successful career.
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Siliconangle
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PostHog raises $70M to streamline software development projects
- PostHog Inc., a developer tooling startup, has raised $70 million in funding led by Stripe Inc. and joined by GV startup fund, Formus Capital, and Y Combinator.
- The company sells software tools to enhance applications, including features for new feature rollouts and data management tasks like tracking churn rate.
- PostHog offers tools for testing updates with limited users using feature flags and testing multiple versions of new features.
- Their suite includes data collection and analysis tools to track user interactions and identify user experience problems.
- PostHog revealed tripled sales over the past year with annual recurring revenue in the tens of millions of dollars.
- The funding will be used to enhance their AI assistant, Max AI, and expand the product portfolio to include tools for sales, support, and marketing teams.
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Pymnts
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Vine Financial Secures Seed Funding for AI-Powered Commercial Lending Platform
- Vine Financial secured seed funding for its commercial lending accelerator platform for banks and credit unions.
- The platform utilizes artificial intelligence (AI) tools to streamline commercial lending processes.
- The funding will support Vine's growth and platform expansion into commercial real estate and agriculture lending.
- Neeraj Vohra, from Bankers Helping Bankers Fund, praised Vine's innovative approach to commercial lending.
- Vine finalized its board of directors with industry leaders to drive transformation in commercial lending.
- AI integration in banking is on the rise, with a report highlighting its various applications, including fraud detection and customer onboarding automation.
- Zest AI also introduced a tool for AI-powered lending decisions, providing in-depth borrower behavior insights.
- IBC Bank partnered with Finanta to enhance its commercial lending capabilities through a FinTech platform.
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Bloomberg Quint
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Plane Crash: Air India's N Chandrasekaran Vows To Turn 'Heartbreaking' Tragedy Into Catalyst For Safer Airline
- Air India's N Chandrasekaran addressed employees, calling the recent crash 'heartbreaking' and emphasizing the need to use it to improve airline safety.
- Chandrasekaran visited the crash site in Ahmedabad and met with Boeing and GE Aerospace representatives to investigate the incident.
- Aircraft Accident Investigation Bureau and a high-level committee are probing the crash, with flight data recorders secured for investigation.
- Air India has been instructed to conduct safety inspections on its Dreamliner fleet after the crash, affecting operations.
- The tragedy poses a challenge for Boeing's reputation and Air India's turnaround efforts following the Tata Group's acquisition.
- Flight cancellations have increased post-crash, impacting customer trust in Air India.
- Chandrasekaran urged employees to focus on improving the airline and emphasized their role in shaping its future.
- The Tata Group's restructuring efforts for Air India included a large aircraft order to modernize the fleet.
- Chandrasekaran stressed determination and resilience in the face of criticism and challenges.
- Boeing and GE Aerospace representatives are actively involved in the crash investigation.
- Aviation regulator's enhanced safety inspections on Air India's Dreamliner fleet have led to operational delays.
- The crash comes during a crucial period for Boeing attempting to regain public confidence after previous safety controversies.
- The incident underscores the complexity of aviation and the need for continuous improvement in safety measures.
- Chandrasekaran urged employees to stay determined and actively contribute to Air India's future success.
- The company's focus is on restoring customer trust, enhancing safety measures, and evolving the airline positively.
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Livebitcoinnews
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Metaplanet Surpasses Coinbase with 10,000 Bitcoin Holdings
- Metaplanet, a Japan-based investment business, has exceeded Coinbase Global in Bitcoin holdings by acquiring 10,000 BTC.
- Metaplanet issued $210 million in bonds to finance further Bitcoin acquisitions, aiming to accumulate 210,000 BTC by 2027.
- The company's strategic approach emulates that of MicroStrategy, focusing on building a significant Bitcoin treasury using capital markets.
- Metaplanet's successful Bitcoin acquisitions and innovative financing methods have proven effective, increasing its stock value by 430%.
- Metaplanet's aggressive strategy has seen it surpass Coinbase's Bitcoin holdings, aiming to become one of the largest Bitcoin holders globally.
- The company's investment in Bitcoin is driven by the belief that cryptocurrency serves as a hedge against inflation and currency devaluation.
- Metaplanet's vision of amassing 210,000 BTC by 2027 aligns with its pioneering investment model, setting a precedent in Japan's corporate sector.
- The stable price and growing institutional acceptance of Bitcoin have bolstered Metaplanet's confidence in its investment strategy.
- The company's successful capital raises indicate its commitment to investing in Bitcoin and diversifying its treasury with cryptocurrency.
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Pymnts
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Report: Ramp Valued at $16 Billion in Funding Round
- FinTech startup Ramp has been valued at $16 billion in a recent funding round, up from $13 billion in a secondary share sale three months earlier.
- The funding round raised $200 million, according to Bloomberg.
- Ramp reported a rise in annualized payment volume to $55 billion and an increase in the number of U.S. businesses served to 30,000.
- The company's CEO, Eric Glyman, highlighted a focus on eliminating financial waste and busywork through AI technology.
- Ramp was valued at $7.6 billion in April 2024, signifying substantial growth.
- The company transitioned from a corporate card provider to a comprehensive financial operations platform for businesses.
- Ramp expanded its partnership with Stripe to introduce stablecoin-backed corporate cards for cross-border transactions.
- A treasury solution was added to Ramp's platform in January, promising businesses increased yields on cash and improved working capital management.
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