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Lok Sabha elections 2024: Elections in the Kerala's Wayanad seat will take place on April 26, will see three-cornered contest

India's NBFC sector is expected to record a moderate growth of 16-18 per cent in the current fiscal because of relatively slower expansion on unsecured retail loans due to the recent regulatory measures issued by the RBI, CRISIL Ratings said on Wednesday. Assets Under Management (AUM) of Non-Banking Financial Companies (NBFCs) are set to log a healthy 14-17 per cent growth next fiscal on the back of continued strong credit demand across retail loan segments, it said in a release. "Growth may be moderately lower than 16-18 per cent expected in the current fiscal, as unsecured retail loans, the fastest growing segment in the NBFC AUM pie so far, are likely to see a relatively slower growth as NBFCs recalibrate their strategies due to the recent regulatory measures issued by the Reserve Bank of India," it said. Going forward, diversification in product offerings and funding profile will be key constituents of their growth strategy, it added. The rating agency further said retail credi

Former Formula One boss Bernie Ecclestone will be charged with fraud by false representation following a government investigation into his overseas assets, British prosecutors said Monday. Chief Crown Prosecutor Andrew Penhale said after reviewing evidence from the tax office, authorities have authorized a charge against Ecclestone over his failure to declare overseas assets worth more than 400 million pounds ($477 million). Simon York, of Her Majesty's Revenue and Customs, said the announcement followed a complex and worldwide investigation into the 91-year-old businessman's finances. The criminal charge relates to projected tax liabilities arising from more than 400 million pounds of offshore assets which were concealed from Her Majesty's Revenue and Customs, he said. The case is expected to be heard at Westminster Magistrates' Court in London on Aug. 22.

The asset sale exercise is expected to start early next year and the final contours will be decided by the GOM.

New deadline is now December 31