Two former CFOs of Chennai's First Leasing Company have been arrested for a Rs 500 crore fraud. The ED has said that the two officials fudged company accounts to obtain illegal loans from banks. Firstpost
Universal banking licenses are now easily available, with the RBI making these licenses available to NBFCs, qualified individuals and companies. Large corporate houses are excluded. LiveMint
Paytm has entered the online ticket booking market, which till date has been a virtual monopoly for BookMyShow. The two will be battling it out in a space where Rs. 3,000 crore is spent annually on tickets, and 25-30% of these are booked online. FE
Photo of the Day: A participant smiles during his handball match at a different kind of Olympics. The Rio Olympics draws the media attention, but in the meantime the Mud Olympics is in full swing in Germany. Reuters
