An X user said his Rapido rider was a recent computer science graduate with a first-division degree who had failed to land a job despite applying to over 500 positions. "Two months later he's doing...rides...because savings ran out and nobody called back," the user wrote. The rider's parents still believe he is at home preparing for interviews, he added.

SBI Funds Management, India's largest asset manager, is set to launch its IPO in the week beginning July 13, aiming to raise up to $1.2 billion (₹11,426.4 crore), Bloomberg reported. The offer is entirely an OFS, with SBI selling a 6.3% stake and Amundi 3.7%. The company is reportedly targeting a valuation of $12.3 billion (₹1.17 lakh crore).

PM Narendra Modi shared how India's friendships with other nations helped the country during the energy crisis triggered by the US-Iran war. "Before the crisis, India imported fuel/energy from 25-26 countries...Amidst the war, India began sourcing fuel from over 40 countries," he said, adding that the world saw the "jalwa (prowess)" of Indian diplomacy. PM Modi said this in Rajasthan.

Funding in Indian startups dropped nearly 84% to $165.8 million across 22 rounds during the week of June 26 to July 2, according to Tracxn. The decline followed the previous week's $1.03 billion in funding, which was boosted by CRED's mega fundraising round. Despite the fall in funding value, the number of startup deals increased week-on-week.

Rapido app's founders, Rishikesh SR, Pavan Guntupalli and Aravind Sanka, have been booked in Nagpur for allegedly operating "petrol-powered" bike taxi services in Maharashtra without requisite government permission. RTO officials booked a ₹22 Rapido bike ride as part of a special drive against illegal passenger transport. The bike that arrived was a private two-wheeler operating without a license.

America's rise as a global power began between 1870 and WW1, when rapid industrialisation helped it surpass Britain and other European nations in production. After WW2, US shaped the post-war order by building international institutions and alliances. Its Cold War rivalry with the Soviet Union defined global politics, and the Soviet Union's collapse made the US the world's dominant power.

The RBI has imposed a ₹63.6 lakh penalty on Bank of Baroda for charging higher interest than the agreed rate on certain loan accounts. Separately, it fined GIC Housing Finance ₹3.1 lakh for non-compliance with KYC guidelines. The housing finance company failed to conduct periodic reviews of customer risk categorisation as required.

PM Narendra Modi inaugurated India's first greenfield integrated refinery-cum-petrochemical complex at Pachpadra in Rajasthan's Balotra on Saturday. Developed by Hindustan Petroleum and the state government at a cost of over ₹79,450 crore, the 9 MMTPA facility aims to boost energy security. The complex is among several regional development projects worth ₹1.06 lakh crore launched by PM Modi.

Parents of toddlers, who were allegedly abused at daycare facility of Capgemini in Bengaluru, are recalling behavioural changes they observed in them. "She would refuse to go to toilet...She'd cry and express fear on seeing/entering it," recalled a mother. "We noticed this within a month of joining daycare, now we know she was repeatedly locked inside bathroom," she added.

Employees' Provident Fund Organisation (EPFO) has introduced a new rule to settle eligible PF withdrawal claims within three days. Under the rules, officials responsible for unjustified delays could face a 12% annual penal interest charge, which would be added to the subscriber's payout for the delayed period. The move aims to give employees faster access to their savings during unemployment.