NEW DELHI: India would soon establish itself in the semiconductor industry by starting exports, even though it’s entry was late, said Union home minister Amit Shah.“We have made a strong entry into the semiconductor industry, although a bit late. In no time, we will not only become self-reliant in the semiconductor sector, but will also start exporting it,” he said, addressing the ‘Abhyudaya Madhya Pradesh Growth Summit’.Speaking at the summit, Shah highlighted Madhya Pradesh’s attractive geographical location and fertile land.He also inaugurated industrial projects worth Rs 2 lakh crore, on the occasion of former Prime Minister Atal Bihari Vajpayee‘s 101st birth anniversary. He remembered Vajpayee as “a great orator, a sensitive poet, a leader dedicated to public welfare and remained ‘ajatashatru’ (person without enemies) in politics.”He noted that even small investments in the state could yield substantial returns. He praised Madhya Pradesh’s transformation from a power-deficient state to one with surplus electricity. He also commended the state’s achievements in cleanliness, saying it has surpassed other states in this aspect.During the event, Shah also paid tributes to Pandit Madan Mohan Malviya on his birth anniversary and C Rajagopalachari on his death anniversary. The Growth Summit attracted 25,000 beneficiaries and thousands of entrepreneurs and investors. Officials confirmed that the industrial projects launched during the event will create 193,000 new jobs.Shah’s visit also included inaugurating the Gwalior Fair and dedicating the renovated Atal Museum to the public, further marking the celebrations of Vajpayee’s birth anniversary.

MUMBAI: Serious Fraud Investigation Office (SFIO) has opened a formal probe into IndusInd Bank after a Dec 23, 2025 letter triggered an investigation under the Companies Act, 2013, over accounting lapses tied to internal derivative trades.In a filing, the bank said SFIO, under the MCA, seeks information after the lender flagged on June 2 issues spanning internal derivatives, unsubstantiated “other assets/liabilities”, and microfinance interest/fee income. It disclosed the update on Dec 18, pledged full cooperation, and posted details on its website.Derivatives irregularities have hit P&L by about Rs 1,960 crore as of March 31, 2025, eroding reported net worth by roughly 2.3% as of Dec 2024. Earlier profits were overstated as notional gains flowed into P&L while losses sat parked as assets, inflating NII and earnings quality. The derivatives irregularities saw several members of the senior management stepping down with the board bringing in Rajiv Anand from Axis Bank to head the private lender.The bank recognised the losses, absorbed pain in its FY25 earnings which tipped the bank into a Q4 FY25 net loss after one-off write-offs/provisions. Capital/net worth took a 2–2.5% post-tax hit, trimming buffers and nudging growth appetite and capital pricing.The derivatives loss resulted in the shares of the bank sliding as investors reassessed earnings credibility and governance. The scrutiny also sharpened on the board/management/audit committees, intensifying regulatory pressure and SFIO oversight.