The US government has opened an investigation against two of the biggest Indian outsourcing companies for possible violations of H1-B visa rules, according to a media report.

The Department of Labour has opened the investigation against Tata Consultancy Services and Infosys for possible violations of rules for visas for foreign technology workers under contracts they held with an electric utility Southern California Edison, the New York Times said.

Reliance Jio, the wireless telephony and data services subsidiary of Reliance Industries will launch its commercial services by December this year, Chairman of RIL, Mukesh Ambani said here today at its 41st annual general meeting of shareholders. Jio will begin beta services with select consumers in the next few months before the commercial launch in december.

Ambani said FY 2016-17 will be the first full year of commercial operations for Reliance Jio and contribute to Reliance’s top line. Giving details of Jio’s services, in which RIL has already invested Rs 60,000 crore, Ambani said RIL has set up a new generation of broadband services which would cover 80% of India’s population by year-end.

Reliance Gas Transportation Infrastructure Ltd (RGTIL), an unlisted company owned by India's richest man, Mukesh Ambani, has received a generous loan-restructuring package from Indian banks after the company incurred huge losses in the past few years.

This is be the first time any company owned by Ambani has sought loan rescheduling from banks.

June is turning out to be a nightmare for Indian markets, as the National Stock Exchange's (NSE's) benchmark Nifty index has ended in losses on all but one trading session this month.

The 50-share index on Thursday ended below the 8,000-mark for the first time in nearly eight months.

Maruti Suzuki and Hyundai Motor, the country's biggest car makers, will next month launch a new product each in the sports utility vehicle segment, a space where neither is well represented. Hyundai is set to launch the Creta on July 21 and Maruti will launch the S-Cross in mid-July.

Technically, the S-Cross is a crossover-a car with features of a sports utility vehicle (SUV)-but it is expected to be positioned against the Renault Duster, Nissan Terrano, Ford EcoSport and the Creta.

Before the launches lined up for the next two or three years, India’s largest automobile company Tata Motors and its longtime Italian partner Fiat have begun strategic talks. The partners are discussing product and investment plans which will be finalised for the jointly owned facility at Pune.

There are discussions between two companies. These are in the initial stages and details will be shared in the coming period, said a source. The product launches lined up for the next few years include sports utility vehicles, hatchbacks and compact sedans developed by Tata Motors and Fiat, independent of each other.

India Today Television just made it to the top of the English news television heap. Broadcast Audience Research Council (BARC) data show that the channel that had been inching up on reach had already crossed leader Times Now two weeks ago. This week, it went ahead of Times Now in ratings, too.

While TAM Media research data confirms that India Today TV leads in reach, Times Now is still the leader in ratings according to TAM. We are confident, given this flying start, that India Today Television will be India's foremost English news channel in the times to come, said Ashish Bagga, group chief executive, India Today group.

State-owned NTPC today said Talcher in Odisha will become a power hub with the PSU planning around 3,000 MW of capacity addition there.

"Recently I was in Odisha and the Chief Minister wanted that we should do expansion in Talcher. We have two stations there. One is Super Thermal Power station and one is Talcher Thermal Power Station (TTPS)," NTPC Chairman and Managing Director Arup Roy Choudhury told reporters here.

We have full visibility of a 25 bps base rate cut at Yes Bank very soon, the lender's managing director and chief executive Rana Kapoor told reporters here today.

Kapoor said that he has also been invited for the meeting with Jaitley on Friday morning and added that calling private sector bankers is a good move by the ministry.

The Indian national cricket team is set to get a new coach after the current Bangladesh tour, and in all likelihood, it will be Ravi Shastri. According to a report in The Hindustan Times newspaper, if the appointment happens, Shastri, the current team director, will take home a cool Rs 7 crore annually, becoming the highest paid cricket coach in the world.

Shastri, a former cricketer who has played for the national team in both Tests and one-day internationals, will also become the first Indian coach after Kapil Dev handed over the coach’s cap to John Wright in 2000. The newspaper also reported that the Board of Control for Cricket in India (BCCI) stopped looking for a successor to Duncan Fletcher, the current coach of Team India, after Virat Kohli expressed a desire to see Shastri in that role.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.