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A Parliamentary committee has suggested penalties or corrective actions against IAS officers if they fail to file their property details within the prescribed time limit. Ninety-one Indian Administrative Service (IAS) officers did not file their immovable property returns (IPRs) in 2024 and 73 the year before, according to 145th report of the Department-related Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice on the Demands for Grants (2025-26) pertaining to the Department of Personnel and Training (DoPT). The report was tabled in Parliament on March 27. Vigilance clearance, mandatory to join certain posts, was denied to 15 IAS officers in 2023, 12 in 2022 and 14 in 2021, due to non-filing of IPRs for respective years. The panel recommended that a centralised compliance monitoring mechanism may be established to ensure timely filing of IPRs by all IAS officers. "This mechanism should involve creation of a dedicated task force within the department
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.