Here's a quick look at the business news round-up from India and abroad.

Benchmark stock indices saw a good rally in trade on the back of buying in IT and select private sector banking stocks. The indices closed higher for the second straight week, making gains of 1.15 per cent.

Chinese markets tank

Chinese markets fell sharply in trade as investors sold heavily. The Shanghai Composite has now fallen as much as 16 per cent during June.

Greece worries continue

Worries over a possible Greece default kept markets across the globe on the edge. An outcome of Eurozone ministers meeting is awaited later on Saturday. The Greece PM has called a referendum on creditors demands on July 5.

PM Modi launches a number of schemes

Prime Minister Narendra Modi launched the Smart Cities Mission, Housing for All by 2022 and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) schemes.

The expenditure on these projects is estimated at Rs 4,00,000 crores.

RBI extends the date for withdrawal of Pre-2005 series banknotes

The Reserve Bank of India has extended the date for the public to exchange their pre-2005 banknotes till December 31, 2015. It had, in December 2014, set the last date for public to exchange these notes as June 30, 2015.

Accenture raises forecast

According to a Reuters report Accenture Plc raised its full-year revenue forecast for the third time, reflecting rising demand for the company's consulting and outsourcing services from firms looking to cut costs.

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