HAVEN’T RECEIVED CBI SUMMONS YET, SAYS AIRASIA

MUMBAI: Airasia Berhad on Wednesday said that the airline and its group chief executive Tony Fernandes has not received summons to appear before the Central Bureau of Investigation (CBI) over allegations of lobbying for overseas flight permits and violating rules that prevent foreign airlines from controlling Indian operators. “We wish to state categorically that neither Airasia Group nor Tan Sri Tony Fernandes, in his personal capacity, has received any such notice as of today,” Airasia Group said in a statement to Malaysian stock exchange.

IDFC Bank, Capital First get RBI nod for merger

NEW DELHI: IDFC Bank on Wednesday said it has received RBI’S approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company. “The Reserve Bank of India (RBI) has, via its letter dated June 4, 2018, conveyed its ‘No Objection’ for the voluntary amalgamation of Capital First Ltd, Capital First Home Finance Ltd and Capital First Securities Ltd with IDFC Bank,” IDFC Bank said in a regulatory filing.

Canara Bank’s UK unit fined $1.2 million

LONDON: Britain’s markets regulator has fined the UK division of India’s Canara Bank £896,100 ($1.2 million) and blocked it from accepting new deposits for around five months for systemic anti-money laundering failures. The Financial Conduct Authority (FCA) said on Wednesday that the control failures at the UK division of Canara Bank, India’s fifth largest state-run lender by assets, affected almost all levels of its business and governance structure.

Sebi doubles angel fund investment limit in VCS

NEW DELHI: With an aim to provide impetus to early-stage startups, markets regulator Sebi has increased the maximum investment limit by angel funds in venture capital undertakings to ₹10 crore from the current ₹5 crore. In this fast changing ecosystem, wherein angels are investing much higher amounts, such increase is needed to provide more opportunities to angel funds, industry experts believe.

TCS offered jobs to 24,000 applicants in 2018

KOLKATA: Tata Consultancy Services (TCS) on Wednesday said it has issued 20,000 job offers to freshers and around 4,000 to non-freshers this year. The company will go for on-demand hiring because of increased automation in software delivery process, according to the company’s executive vice president and head of global human resource Ajoyendra Mukherjee. “Everybody is becoming more and more cost conscious,” he said.

World Bank forecasts 7.3 per cent growth for India

WASHINGTON: India’s economy will see a robust growth of 7.3% this year and 7.5% for the next two as “factors holding back growth in India fade”, the World Bank has forecast, allowing the country to retain the tag as the world’s fastest growing major emerging economy. “India’s economy is robust, resilient and has potential to deliver sustained growth,” Ayhan Kose, director of the Development Prospects Group at the World Bank, said.

COMPILED FROM MINT REPORTERS AND AGENCIES