- Bus most preferred source of travel in India - NSSO.
- University Grants Commission (UGC) displays the list of 22 fake universities on its website.
- RBI eased the External Commercial Borrowing (ECB) norms to submit for approval plans to issue ECB only when they are above a threshold limit fixed from time to time.
- Union Cabinet approved Seventh pay commission allowing hike from 14% to 23.5% for 4.7 million employees and 5.3 million pensioners. This puts an additional burden of Rs.1.02 trillion on exchequer.
- AirAsia rebrands its aircraft with "Kabali" livery.
- India' fiscal deficit in April-May 2016 was Rs.2.28 trillion or 42.9% of budget estimates for 2016-17. Last year it was Rs.49,690 crore or 4.7% of budget estimate.
- Ahmedabad based Torrent Pharmaceuticals Ltd to buy Hyderabad based Glochem Industries Ltd for a undisclosed sum.
- Cisco has launched its start-up initiative "Launchpad". Initial focus will be on manufacturing, retail, transportation, education and healthcare sectors. Cisco has already invested $240 million among 25 start-ups in India.
- World Bank to lend India more than $1 billion for its solar energy program.
Source: Google.com, Livemint.com
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