The Income Tax department has issued Rs 64,700 crore worth refunds in the current financial year, and for full 2018-19 financial year the amount released was over Rs 1.61 trillion, Finance Minister Nirmala Sitharaman said Monday.

In a written reply to a question in the Lok Sabha, she said over 649 million electronic returns were submitted for assessment year 2018-19 (financial year 2017-18), up 18.65 per cent from over 547 million in assessment year 2017-18.

Engineering and construction major Larsen and Toubro (L&T) has bagged a mega engineering, procurement and construction (EPC) order from SJVN Thermal Private Limited to set up a 2x660 MW ultra-supercritical power plant in Buxar district, Bihar.

The award bagged by L&T’s power division is over ₹7,000 crore as per the company’s classification of mega project.

In a sudden development, Reserve Bank of India Deputy Governor Viral Acharya has resigned six months before the scheduled end of his term in office, ANI confirmed. Acharya was roped in by the government as Deputy Governor of RBI on 2017, January. His three-year term was set to end on January 22, 2020.

He used to look after There will be two top slots open in RBI one of Acharya and other of NS Viswanathan who is retiring on July 3rd 2019 Viral Acharya looks after monetary policy, research and financial stability while Viswanathan is in charge of crucial banking regulation and risk management department.

Public sector NPAs of loans issued under the scheme have increased by Rs 9,204.14 crore in just one year – from Rs 7,277.31 crore in March 2018 to Rs 16,481.45 crore in March 2019.

New Delhi: The non-performing assets (NPAs) under Prime Minister Narendra Modi’s ambitious Pradhan Mantri Mudra Yojana (PMMY) doubled within one year. This information was obtained through an RTI petition filed by The Wire.

Binny Bansal, the co-founder of India's leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76.4 million (Rs 531 crore) to world's retail giant Walmart's Luxembourg entity FIT Holdings SARL, business intelligence platform Paper.vc said on Monday.

Walmart increased its equity holding in Flipkart by buying 5,39,912 shares of its erstwhile co-founder Binny Bansal for $76.4 million through its Luxembourg-based entity FIT Holdings SARL, said the Chennai-based Paper.vc in an e-mail to IANS.

In a bid to reduce travel time, the Indian Railways, under its 100-day action plan, envisages increasing the speeds of trains on the Delhi-Mumbai and Delhi-Howrah routes at an investment of over Rs 13,500 crore, officials said.

A senior railway ministry official told IANS: "In a proposal approved by Railway Minister Piyush Goyal, the Railways plans to increase the train speed to 160 kmh on the busy routes of Delhi-Mumbai and Delhi-Howrah in the next four years."

In a first of its kind initiative, HSBC Holdings Plc is backing the launch of a technology startup that aims to connect small-and-medium-sized manufacturers with component suppliers in different parts of the world as part of its trade banking push.

Hong Kong-based Serai, which is a wholly-owned subsidiary of Europe's biggest bank by assets, started formal operations last week, and is part of HSBC Chief Executive John Flint's plan to invest $15-$17 billion by 2020 on technology to boost growth.

Amid rising geopolitical tensions between the US and Iran, India’s aviation regulator DGCA on Saturday said Indian airlines have decided to avoid the affected part of the Iranian airspace and re-route their flight suitably.

On Friday, the American aviation regulator, the Federal Aviation Administration (FAA), issued a Notice to Airmen (NOTAM) prohibiting US-registered aircraft from operating in the overwater area of the Tehran Flight Information Region until further notice, due to heightened military activities and increased political tensions.

India skipper Virat Kohli will have the chance to add another feather to his cap by becoming the fastest batsman to score 20,000 international runs when he takes strike against Afghanistan in their World Cup tie at the Rose Bowl in Southampton on Saturday.

Kohli currently has 19, 896 runs to his name and is just 104 runs short of the record that legendary Indian batsman Sachin Tendulkar holds together with West Indies great Brian Lara.

Prime Minister Narendra Modi is likely to meet leading economists, experts ahead of the Union Budget which will be presented in Parliament on July 5. Modi's meeting with economists is expected to be held around 4:30 pm on Saturday at NITI Aayog.

The agenda of the meeting will be to discuss macro-economic issues, the current slowdown in the economy and Union Budget which will be tabled in the Parliament on July 5.

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