Wednesday, August 26
New Delhi: Fitch Ratings has maintained a 'Neutral' outlook for India's auto loan asset-backed securities (ABS) sector for 2026, citing expectations of stable asset performance supported by resilient domestic economic growth.According to the rating agency, India's economy is projected to expand by a strong 7.4 per cent in the financial year ending March 2026 (FY26), before moderating to 6.4 per cent in FY27. Fitch noted that all its rated auto loan ABS transactions are backed by secured loans linked to income-generating assets such as commercial vehicles, which should help sustain steady loan performance amid robust growth conditions. Fitch said domestic demand will remain the key driver of economic momentum despite global trade uncertainties. "Domestic demand will continue driving the eco
New Delhi: Parliament on Wednesday cleared the The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 allowing 100% foreign direct investment in the insurance sector. Finance minister Nirmala Sitharaman in reply to the debate in Rajya Sabha said opening up the sector would attract new insurers, intermediaries, and allied service providers, expanding the overall insurance ecosystem and creating net employment."Overall, the amendments are expected to strengthen job creation, skill development and formal employment," she said. The Rajya Sabha later passed the bill, already approved by the Lok Sabha on Tuesday. 126044845 The finance minister said norms by the Insurance Regulatory and Development Authority of India (IRDAI) provide enough safeguards for protecting the interests of
Danish Khan, Business Head – Sony LIV and Studio NEXT, will be transitioning out of Sony Pictures Networks India (SPNI) after a decade with the company to pursue new opportunities. Khan will continue with SPNI until the end of the current financial year on March 31 to ensure business continuity.Khan has spent over 20 years at SPNI across two stints. In his current tenure, he joined the network 10 years ago as Business Head of Sony Entertainment Television (SET) before going on to lead Studio NEXT and later Sony LIV, which he has headed since 2019.During his time at Sony LIV, Khan led the platform’s relaunch as Sony LIV 2.0 and significantly scaled the digital business. Under his leadership, Sony LIV recorded more than five-fold growth in topline revenue and four times growth in monthly
Mumbai: The Ministry of Corporate Affairs (MCA) has ordered an investigation by the Serious Fraud Investigation Office (SFIO) into the affairs of IndusInd Bank Ltd, citing public interest and serious accounting discrepancies flagged by statutory auditors and forensic reports.The move comes even as the Mumbai Police's Economic Offences Wing (EOW) is planning to close its preliminary enquiry after finding no evidence of fund siphoning or diversion, sources said.In its order, the central government referred to multiple ADT-4 forms filed under Section 143(12) of the Companies Act, 2013 by the bank's statutory auditors. An ADT-4 dated May 12, 2025 flagged accounting discrepancies aggregating about ₹1,959.78 crore for the period from FY2015-16 to FY2023-24.The government noted that the reports
