Infosys COO UB Pravin Rao has said that several technical glitches raised initially in the Infosys' new income tax return e-filing portal have been resolved over the last week. He added that close to a lakh returns have been filed so far. Infosys is set to meet Finance Ministry officials and other stakeholders on June 22 to discuss portal's glitches.

Infosys Co-founder Nandan Nilekani has said that the IT major recruited 19,230 graduates in India and 1,941 outside India to serve the increasing demand for digital acceleration. He added that Infosys expanded its US hiring commitment to 25,000 by 2022. "The dramatic shift to living and working online has altered the entire business landscape in irrevocable ways," Nilekani stated.

Zerodha's COO Venu Madhav told YourStory, "Around 70% of our workforce is either in sales or in support...these teams can continue work from home permanently." "Some members of the tech team, admin team and HR team can also continue work from home," he said. "Teams that handle physical application forms can be mandated to come to work," he added.

Virgin Group's billionaire Founder Richard Branson in an Instagram post revealed that back when his company launched 'Virgin Cola', "Coca-Cola didn't like the competition." He added, "They set up a 'SWAT team' to...convince retailers not to stock us." This comes days after footballer Cristiano Ronaldo removed Coca-Cola bottles at a Euro 2020 presser, causing a $4-billion loss to the company.

The Ever Given container ship's Japanese owners made a new compensation offer to the canal authority over the Suez Canal blockage, the authority's lawyer said without giving details. The court had been due for a ruling on Sunday but the ship's owners sought more time for negotiations. The ship remains anchored in a lake between two stretches of the canal.

Karnataka Bank has declared accounts of Reliance Home Finance and Reliance Commercial Finance a fraud with loan outstandings of over ₹160 crore. The bank reported to RBI regarding frauds in the credit facilities extended to the two listed companies. An outstanding loan of ₹21.94-crore to Reliance Home Finance and a ₹138.41-crore loan to Reliance Commercial Finance was declared as fraud.

Gautam Adani's companies' shares recorded their biggest weekly losses this week after losing ₹1.91 lakh-crore ($25.83 billion) in value in five days ending Friday, Reuters reported. Meanwhile, Adani lost $13.2 billion, more money this week through Thursday than anyone else in the world. It was after a report claimed accounts of three foreign funds were frozen, which the company denied.

AirAsia India has operated nine flights in which the crew was fully vaccinated against COVID-19, the airline said. It said that the sectors flown by fully vaccinated crew included Bengaluru to Kolkata, Chennai to Guwahati, Pune to Jaipur, among others. Recently, Vistara operated India's first flight in which the cabin crew and the pilots were fully vaccinated.

The Central Bank of Portugal, Banco de Portugal, has granted licence to two cryptocurrency exchanges for the first time. In an official statement, the bank announced that it has recognised 'Criptoloja' and 'Mind The Coin' as "virtual asset service providers". The bank had reportedly received five formal registration requests and a total of 60 informal contacts for licences.

World's largest cryptocurrency Bitcoin fell 5.5% to $34,142 on Sunday as China ordered the closure of crypto mining projects amid concerns about energy usage. The hashrate in China started dropping significantly after the mines were closed, FTX's Jonathan Cheesman said. The drop was also seen after DeFi token TITAN crashed 100% on Thursday, raising potential regulatory scrutiny, an analyst said.

Cryptocurrency billionaire and MicroStrategy CEO Michael Saylor has compared his early backing of Apple to Bitcoin. "Apple was a dominant mobile network that everyone needed, no one could stop and few understood. Bitcoin is a dominant monetary network that everyone needs, no one can stop and few understand," he tweeted. Currently, MicroStrategy owns more than 92,000 Bitcoins.

Billionaire investor Mike Novogratz, while discussing Tesla CEO Elon Musk's tweets and their effect on cryptocurrencies, said, "He is smart and thoughtful. There is an immaturity in him that I think is...not helpful for the crypto world." Novogratz added that Musk "likes the attention" and that his tweets are not helpful. The investor said he is a big SpaceX investor.

Former Tesla executive Jerome Guillen, who left the firm earlier in June, has sold an estimated $274 million worth of shares after exercising stock options since June 10, Reuters reported citing SEC filing. Guillen, who had been with Tesla since 2010, quit the company four months after becoming its Heavy Duty Trucking President.

The joint venture floated by Centrum Group and BharatPe for launching a small finance bank (SFB) will infuse ₹1,800-crore capital into PMC Bank on its merger with proposed bank. Of this, ₹900 crore will be invested in the first year, Jaspal Bindra, Centrum Group's Executive Chairman, said. The RBI has granted "in-principle" approval to Centrum to set up an SFB.

Porsche AG is setting up a joint venture with German lithium-ion specialist Customcells to produce high-performance batteries for electric sportscars. Porsche said it will invest a high double-digit million euro sum in the joint venture in which it will hold over 80%. According to Porsche CEO Oliver Blume, the new cells will allow charging in less than 15 minutes.

A special court has issued another non-bailable warrant against diamond trader Mehul Choksi and others in the alleged Punjab National Bank (PNB) fraud case. It observed that there is prima facie material to show Choksi caused offences, including the destruction of evidence. The court took cognizance of the supplementary chargesheet filed earlier this month.

The Labour Ministry has said that Centre has no intention to delay the fixation of minimum wages and national floor wages. This comes after reports claimed that the formation of an expert group with a three-year term is an attempt to delay the fixation. The Centre has earlier constituted an expert group to provide technical inputs and recommendations on wages.

India's foreign exchange reserves increased by $3.07 billion to reach a record high of $608.08 billion in the week ended June 11, according to data released by the RBI. Foreign currency assets, a major component of the overall reserves, rose by $2.56 billion to $563.45 billion. Gold reserves rose by $496 million to $38.1 billion during the period.

Four of the 10 most valued companies together added ₹68,458.72 crore in market valuation last week. The valuation of Hindustan Unilever Limited (HUL) increased by ₹26,832.3 crore to reach over ₹5.82 lakh crore, making it the biggest gainer among the firms. It was followed by Infosys and Tata Consultancy Services, which added ₹24,628.79 crore and ₹9,358.6 crore respectively.

SEBI has directed PNB Housing Finance to temporarily halt its ₹4,000-crore share allotment to companies led by The Carlyle Group. PNB said it received a letter from SEBI calling upon the firm to comply with the legal provisions in the matter. The board of directors believe that the firm has acted in compliance with all relevant applicable laws, it added.

Net new enrolments with Employees' Provident Fund Organisation (EPFO) grew by 13.73% to 12.76 lakh in April from 11.22 lakh in March, payroll data showed. Of the total additions, around 6.89 lakh members have come into EPFO's social security coverage for the first time. The age-bracket of 22-25 registered highest number of net enrolments with around 3.27 lakh net additions.

Confederation of Indian Industry (CII) President TV Narendran said that petrol and diesel prices are hurting industries and it's the right time to cut down prices. "Government has increased taxes on petrol-diesel for the last 3-4 years...Centre and states...should come forward to provide relief to the people and industry," he said. Petroleum products should be brought under GST, he added.

Cooperative body NCUI has said that all the depositors of PMC Bank should get back their deposits without any condition. This comes after the RBI gave in-principle approval to Centrum Financial Services to takeover PMC bank and re-launch it as a small finance bank. The RBI had imposed regulatory restrictions on bank's activities in September 2019 due to financial irregularities.

Air India has time till mid-July to challenge a lawsuit filed by Cairn Energy demanding a US court to enforce a $1.2-billion arbitration award that it won against the Indian government, according to reports. The airline is likely to argue that it can't be forced to pay for government's liability, sources said. Government had said that it'll contest any enforcement.

Chief Economic Adviser KV Subramanian has said the government is open to coming out with more measures to boost the economy. "It's really important to take into account the big differences between last year and this year when we talk about stimulus," he added. The 2021 budget was presented amid the pandemic and had incorporated significant fiscal expansion, he said.