India's second largest IT services company Infosys has been slapped with a 'pre-show cause' notice for alleged GST evasion to the tune of about Rs 32,403 crore.

In a BSE filing, the Bengaluru headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of Rs 32,403 crores for the period July 2017 to March 2022, towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice.

The Union Public Service Commission (UPSC) on Wednesday cancelled the selection of Puja Khedkar as a trainee Indian Administrative Service (IAS) officer and imposed a lifetime ban on her from taking any future UPSC examinations. This severe action follows the discovery that Khedkar had falsified her identity to surpass the permissible number of attempts for the Civil Services Examination (CSE).

The UPSC, in a statement, confirmed that Khedkar was found guilty of violating the Civil Services Examination rules by faking her identity to gain additional attempts.

The Delhi High Court on Wednesday pulled up authorities over the deaths of three UPSC aspirants who drowned in the basement of a coaching centre, saying such tragedies are bound to happen when there is no collection of taxes due to a "freebies culture".

The high court hinted at asking a central agency to probe the incident and directed the Municipal Corporation of Delhi (MCD) commissioner, deputy commissioner of police concerned and the investigating officer of the case to appear before it on Friday.

Former US president Donald Trump, who is also the Republican presidential nominee, is the biggest threat to health, welfare and social security programmes, the rival Harris campaign alleged Tuesday.

A second Trump term would undo nearly 60 years of progress in helping low- and middle-income Americans access the quality, affordable health care they need, the Harris campaign said in a statement.

Intel Corp. plans to eliminate thousands of jobs to reduce costs and fund an ambitious effort to rebound from an earnings slump and market share losses.

The workforce reduction may be announced as early as this week, according to people familiar with the company’s plans, who asked not to be identified because the information isn’t public.

The Securities and Exchange Board of India (Sebi) opposes delegating the responsibility of conducting know-your-client (KYC) formalities to individual entities due to fears of “Paytm-like contamination”.

In response to a question about centralising KYC across the financial system, Sebi Chairperson Madhabi Puri Buch said, “The current KYC registration agency (KRA) system is widely acknowledged and robust. If you have a validated KYC by a KRA, you don’t need to repeat the KYC process in the capital markets.”

Adani Energy Solutions, the conglomerate’s transmission and distribution entity, on Tuesday said it has launched a qualified institutional placement (QIP). According to people privy to the matter, the company has raised $ 1billion from this round as the issue was over-subscribed thrice.

QIP is a fund-raising tool for companies, through which they issue equities, or other equity convertible securities to qualified institutional buyers.

The death toll in the Kerala landslides incident has risen to 70 and around 116 people were injured in the landslides that hit the Meppadi area of Wayanad. A total of three camps have been set up in Wayanad, given the situation. 12 are undergoing treatment in Kalpetta Government Hospital and 77 are in WIMS Wayanad. Eight deaths were reported in WIMS and one each in Meppadi Community Health Centre and Vythiri Taluk Hospital.

Around 27 injured people are undergoing treatment at Meppadi CHC. 35 were reported dead and 27 are undergoing treatment at Bathery Taluk Hospital.

Ola Electric is gearing up for its initial public offering (IPO), which will open for subscription on August 2. The grey market premium (GMP) for the company's shares is estimated at Rs 12-13, indicating a potential premium of 16 per cent over the issue price.

The IPO price band is established at Rs 72-76 per share.

Public sector Indian Bank has targeted to recover about Rs 7,000 crore during the current financial year, a top official said on Tuesday.

The bank has also received the approval from the Reserve Bank of India and shareholders to raise Rs 5,000 crore which would be decided at an opportune time, the bank's Managing Director and CEO Shanti Lal Jain said here.

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