- 13 PSU banks get Rs 22,915 crore in capital from the government: The Finance Ministry said the funds were provided so that the state-owned banks can expand their lending services and raise money from the market.
- World Bank picks NYU professor Paul Romer as its new chief economist: Romer is known for supporting investment in human capital, ideas and technology, and will replace Kaushik Basu in September.
- BJP, Congress agree to five-hour debate on GST Bill in Rajya Sabha: While the date for the discussion was not fixed, both parties decided to meet separately to address the changes demanded by the Opposition.
- UltraTech Cement Q1 profits rise by 29%: India’s largest cement manufacturer beat estimates and reported gains of Rs 780 crore as against Rs 604 crore last year this quarter.
- Nine lakh cases of high-value transactions under I-T Department radar, says CBDT: The board said it will 'confront' defaulters with this data, as a move to push them to declare their undisclosed assets under the Income Declaration Scheme.
- Nintendo crosses Sony in market value, thanks to Pokémon GO: At 4.36 trillion yen, the Japanese gaming giant is now worth 300 billion yen more than the multinational company.
- Jabong co-founderz Praveen Sinha denies allegations of siphoning off more than Rs 100 crore: The former chief executive officer of the fashion website said he has initiated legal action against the Twitter handle which revealed the probe against him.
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