Top headlines: RBI calls bank boards' meet, Tim Cook meets PM and more

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RBI calls meeting of all bank boards to discuss governance, supervisory

The Reserve Bank of India (RBI) has called a meeting of the board of directors of all banks — state-run, private, and foreign — on May 29 to primarily discuss “issues related to governance, ethics, the role of the boards, and supervisory expectations”, a top source told Business Standard. Read more...

Committed to grow, invest across India: Tim Cook tells PM Modi

In his third stop after Mumbai and Hyderabad during his ongoing India visit, Apple CEO Tim Cook called on Prime Minister Narendra Modi in New Delhi on Wednesday. In his interaction with the PM, Cook said Apple was committed to growing and investing across the country.
 

Cook tweeted after the meeting that he shared Modi’s vision of the positive impact technology can make on India’s future — from education and developers to manufacturing and environment. Read more...

FinMin tasks World Bank with examining financing in infrastructure sectors

The Union finance ministry has tasked the World Bank with examining financing in infrastructure sectors that primarily depend on public investment, like railways, roadways, urban infrastructure, and power. The multilateral institution is expected to submit detailed reports on how the Centre can attract more private investment into these sectors. Read more...

Jaguar Land Rover raises EV drive bill to £15 bn to catch up with peers

Jaguar Land Rover (JLR), the British brand known for its luxury cars and sports utility vehicles, said on Wednesday it would invest £15 billion (nearly $19 billion) over the next five years as part of its strategy to reposition itself as an electric-first and modern carmaker. According to international news agency Reuters, JLR had previously said it would invest £2.5 billion a year on electrification. Read more...

Tatas, Singapore Airlines seek CCI nod for Vistara-Air India merger

The merger of Vistara with Air India will not lead to any change in the competitive landscape or cause any appreciable adverse effect on competition in India, Tata Sons and Singapore Airlines (SIA) have said in their application to the Competition Commission of India (CCI). The application was filed on Monday. In November, the two sides announced the plan to merge the airlines to drive synergies and drive market share in the fast growing Indian civil aviation market. Tata group and SIA own 51:49 per cent stake in Vistara. Read more...