Air India, grappling with the aftermath of the Ahmedabad crash, has suspended 48 weekly international flights, including vital routes to London. The RBI’s June policy minutes indicated limited room for further rate cuts, while recognizing a precarious global environment. Additionally, Cognizant has followed in TCS’s footsteps, acquiring land in Andhra Pradesh at 99 paise for its ₹1,582 crore IT campus.
Dharavi’s ₹95,000 crore redevelopment initiative is encountering increasing resistance from local residents. Furthermore, the world is shaken by what could be the largest data breach in history, with 16 billion passwords leaked from leading tech firms.
Catch all the top stories, in one scroll.
Iran’s missile scatters cluster bomblets over Israel — what they are and why they’re risky
Iran launched a ballistic missile at Israel on Thursday, which released approximately 20 small explosive submunitions, or cluster bomblets, over a densely populated area in central Israel. The Israeli military reported that the missile’s warhead shattered at around seven kilometers altitude, dispersing the bomblets over an area of approximately eight kilometers.
One bomblet struck a residential building in Azor, causing damage but no injuries reported. Many bomblets failed to detonate upon impact. The Israeli Home Front Command stated that it has retrieved and neutralized at least 20 unexploded submunitions, advising civilians to steer clear of missile fragments due to their potential danger.
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PSU bank, auto stock gains lift Nifty above key 25,000 level
The Nifty 50 index closed over 25,000 on Friday, propelled by widespread buying across various sectors, notwithstanding rising violence in the Middle East.
The Nifty surged by 1.29% to close at 25,112, while the Sensex increased by 1,046 points, finishing at 82,408. Both indices ended the week positively, recovering previously incurred losses as easing domestic worries and targeted buying mitigated global geopolitical tensions.
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Also Read: Oil could spike to $90 if Strait of Hormuz shut, Citigroup says
Sun TV management clarifies on reports of legal feud between the Maran brothers
On Friday, June 20, shares of Chennai-based media giant Sun TV Ltd. dropped amid reports of a legal dispute between the Maran brothers, DMK MP Dayanidhi Maran and billionaire owner Kalanithi Maran.
Moneycontrol revealed that Dayanidhi Maran sent a legal notice to Kalanithi on June 10, threatening to initiate civil, criminal, regulatory, and enforcement actions unless Sun TV’s shareholding was returned to its original status from 2003. Along with Kalanithi, seven other respondents are named in the notice, which follows a previous notice sent in October 2024, as reported by Moneycontrol.
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Exclusive | FM flags ₹34,000 crore GST evasion, directs CBIC to bridge detection-recovery gap: Sources
The Finance Ministry’s two-day conclave aimed at assessing current performance, challenges, and aligning GST and Customs administration with central policymaking concluded today in New Delhi.
High-ranking sources indicated that the Central Board of Indirect Taxes and Customs (CBIC)’s national-level brainstorming session ended with a strong directive from Finance Minister Nirmala Sitharaman to address systemic deficiencies and enhance tax enforcement efficacy.
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After TCS, Cognizant gets Andhra land for 99 paisa
Just months after selling 21 acres to Tata Consultancy Services (TCS) for 99 paise each, the Andhra Pradesh government has finalized a similar agreement with Cognizant, headquartered in Teaneck, New Jersey.
Cognizant plans to invest ₹1,582 crore over the next eight years to develop an IT campus, creating 8,000 jobs in Vishakapatnam, approximately 600 kilometers from Hyderabad and 800 kilometers from Chennai, two of India’s major tech hubs besides Bengaluru.
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RBI MPC Minutes | Limited space for more rate cuts in ‘fragile and fluid’ world
On June 20, the Reserve Bank of India (RBI) published the minutes from the Monetary Policy Committee (MPC) meeting held from June 4-6, 2025, outlining the reasons for the 50 basis point repo rate cut to 5.5% and a 100 basis point reduction in cash reserve ratio (CRR).
Though this marked the third consecutive rate cut in 2025, the minutes revealed that multiple MPC members recognized the shrinking monetary space, while still advocating timely easing to bolster growth.
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Air India slashes 48 weekly flights; suspends international services to 3 cities including London
On June 19, Air India announced a comprehensive plan to reduce its international flight operations by temporarily canceling and suspending 48 weekly long and ultra-long-haul flights operated by Boeing 777 and 787 aircraft. These changes will be effective from June 21 and continue until at least July 15, 2025.
This decision follows the airline’s commitment to implementing enhanced pre-flight safety checks following the tragic June 12 plane crash in Ahmedabad. These checks, along with airspace closures in the Middle East and other operational constraints, led to a 15% decrease in wide-body services, according to the airline.
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Also Read: Air India plane crash: ‘It does not look like a cockpit error’
Why Dharavi residents are wary of the redevelopment project
The ₹95,000 crore Dharavi Redevelopment Project, described as the world’s largest urban renewal initiative, aims to transform one of Asia’s most crowded slums into a modern township. However, as bulldozers get ready to enter the area, growing discontent among Dharavi’s residents is evident.
Dharavi is not merely a slum; it represents a fully functional urban environment. Covering 251 hectares, it comprises homes, workshops, and small businesses clustered in narrow lanes. The government-sanctioned project, executed by Navbharat Mega Developers—a partnership between the Adani Group and the Slum Rehabilitation Authority—has allocated only 109 hectares for development. The remainder is designated for civic infrastructure like roads, drains, and utilities. Up to now, ₹4,500 crore has been utilized for land acquisition and the construction of 1,000 homes on land leased by Indian Railways.
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16 billion passwords stolen in what may be the biggest data leak ever
Cybersecurity experts have identified at least 30 different datasets circulating online, each containing tens of millions to over 3.5 billion records, including login credentials from both recent and historical data breaches. Collectively, these datasets form a colossal compilation that could potentially facilitate access to countless online accounts, pushing the total number of compromised records beyond 16 billion.
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Russia Warns US Nuclear Strike On Iran Would Be Catastrophic
Russia has condemned the possibility of the U.S. using tactical nuclear weapons against Iran, labeling it a catastrophic decision. This warning came in response to speculative media reports suggesting that conventional weapons might not suffice to eliminate Iran’s Fordow nuclear facility.
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