India's second-largest software services company Infosys has not made any profit on government projects because of red-tapism and other issues, co-founder NR Narayana Murthy said on Monday. He told CNBC-TV18 that issues included low price, delayed payments, not accepting software on time, changing requirements mid-stream, not allocating enough time to define requirements and in some cases, corruption. Murthy said that government projects need to have clauses at par with international practices to ensure participation from Indian players and to make campaigns like Digital India successful.

The Income Tax department has warned that action will be taken under anti-money laundering laws against those who do not disclose their illegal foreign assets by 30 September as part of the one-time 90-day window given by the government. The department even issued advertisements in daily newspapers to publicise the "one-time opportunity to come clean through the compliance window." The advertisement even said that the I-T department has information on foreign financial accounts of people therefore people should make use of the three-month compliance window given by the government under the new black money law.

Handicapped participants during the 12th edition of the Standard Chartered Mumbai Marathon. Photo: Kalpak Pathak/Hindustan Times/Getty Images

The Maharashtra government has decided to take the responsibility of specially-abled children even after the age of 18 if they do not have parents or guardians to look after them. Minister of State for Social Justice, Dilip Kamble told the Legislative Council that such children are allowed to study in special schools till they turn 18. "But now even after they cross this age, the state government will take the responsibility," he said. He was replying to a question raised by MLA Kapil Patil during the question hour today. In reply to another question, he said that the government is thinking of providing special teachers in all the schools which teach autistic children.

Greece has made a payment of about two billion euros to the International Monetary Fund (IMF) from the 7.16 billion euros granted to it by the European Union (EU) on Friday. IMF spokesman Gerry Rice said in a statement: "I can confirm that Greece today repaid the totality of its arrears to the IMF.... Greece is therefore no longer in arrears to the IMF." However, the country still has to make a 4.2 billion euro payment to the European Central Bank. The country began limping back to normalcy following the bailout deal with EU that allowed its banks to begin operations from 20 July following nearly three weeks of closure. However, people face rising prices due to imposition of taxes under the bailout provisions.

Photo: Kunal Patil/Hindustan Times/Getty Images

Continuous rain since Monday night has disrupted suburban train services in the city and water-logged many areas. The rain has come back to the city after almost a month of dry spell, causing Western Railway to cancel some of its trains after tracks got submerged. Schools had to be shut down in Palghar while BEST buses had to be diverted on some routes. Arrivals and departures too have been disrupted with flights getting delayed by around 20 minutes. The Thane disaster management cell has cautioned residents along the city coast and low lying areas of high tide.

The Supreme Court on Tuesday dismissed a petition by 161 Jat candidates seeking employment in banks. They had cleared the banking recruitment examination under the Other Backward Classes quota but the banks did not issue appointment letters. The candidates then challenged the banks in the Supreme Court. A Bench, comprising Justices Ranjan Gogoi and Rohinton Nariman, refused to accept their plea saying it had already ruled that Jats were not backward either politically, economically or socially and as such should not be given the OBC quota.

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The first day of the monsoon session of the parliament began on a stormy note with the Congress disrupting Rajya Sabha proceedings twice over the Lalit Modi issue. The government promised to hold a discussion on the issue but added that other issues linked to the chief ministers of Rajasthan and Madhya Pradesh cannot be taken up in parliament as they are state issues. A total of 11 bills are likely to be introduced in the parliament including the controversial land bill. The Lok Sabha too was adjourned for the day.

Jinan, a Luyang II-class Guided Missile Destroyer, has docked at Mumbai for a four-day stay to replenish stocks, rations and fuel. It is on an anti-piracy patrol in the Gulf of Aden and will halt in Mumbai for four days before sailing back to Salalah, Oman, on 24 July. It is a positive as well as a surprising development given that India and China have been often trading accusations over the role and power of their navies in the Indian Ocean and also the South China Sea. India has often raised concerns over the docking of Chinese submarines in Sri Lanka and Pakistan.

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The Supreme Court has rejected the final mercy petition of Yakub Memon on Tuesday, the lone death row convict in Mumbai's 1993 serial bomb blasts case. This will be the first execution related to the 1993 serial blasts in which over 250 people were killed. Memon was found guilty of financing the 13 serial blasts that shook India's financial capital. Memon's earlier appeals against his execution have been rejected by the Supreme Court and also by the President. His brother and underworld don, Tiger Memon, one of the main accused in the case has been missing since 1993. According to laid out procedures, Memon's family members too have been informed about the execution.