The Reserve Bank Of India kept interest rates unchanged in its monetary policy. The Repo Rate has been kept at 4% while the Reverse Repo Rate at the central bank’s borrowing has been unchanged at 3.35%. For the 6th time in a row, RBI has kept benchmark rates unchanged. MSF and Bank rate have also been maintained at 4.25%.
Union Minister Thawarchand Gehlot launched the SAGE initiative and SAGE portal. SAGE or Senior care Ageing Growth Engine portal is envisioned as a 'one-stop access' of elderly care products and services by credible start-ups. A fund of up to Rs 1 crore as one-time equity will be granted to each selected start-up.
The Asian Development Bank and India signed a loan agreement to support project preparation and design activities to upgrade major district roads in Sikkim. It is a USD 2.5 million project readiness financing loan.
It will help improve connectivity to important towns, rural areas, pilgrimage, and tourist destinations in Sikkim.
ADB established: 1966;
HQs: Mandaluyong, Philippines;
President: Masatsugu Asakawa.
Food Processing Industries Minister virtually inaugurated the Indus Best Mega Food Park at Tilda block of Raipur district in Chhattisgarh.
The Mega Food Park will ensure value addition, longer shelf life for farm produce, better price realization for farmers, excellent storage facility and will provide an alternate market for farmers in the region.
Indian Institute of Technology, Hyderabad has developed nano-fibre based oral tablets of Amphotericin B, called as AmB, to treat fungal infections post COVID treatment. Currently, the AmB is available in injectable form. Researchers have decided to keep the technology free of intellectual property rights and ready for technology transfer for mass production of the drug.
Ladakh Lt Governor has launched the YounTab scheme for students in the Union Territory. It is formulated to encourage digital learning, bridge the digital divide between connected and unconnected and mitigate the Covid pandemic disruptions. A total of 12,300 students of 6th to 12th class from government schools will benefit from the scheme.
World Environment Day is celebrated on June 5, annually to encourage awareness & environmental protection. This World Environment Day will kick off the UN Decade on Ecosystem Restoration (2021-2030), a global mission to revive billions of hectares, from forests to farmlands, from the top of mountains to the depth of the sea.
WED 2021 theme -"Reimagine. Recreate. Restore.".
International Chess Federation (FIDE) & Tech Mahindra have signed an MoU to create the Global Chess league. The competition will be established as a first-of-its-kind “phygital” (physical and digital) league, engaging professional players and others. A new holding company will be created to operate the functioning of the League having Viswanathan Anand as mentor and partner
FIDE HQs: Lausanne, Switzerland;
The Securities and Exchange Board of India and the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) have entered into a bilateral MoU for mutual co-operation and technical assistance.
The objective of this MoU is to strengthen cross border co-operation in the area of securities regulation.
The MoU was signed by Ajay Tyagi, Chairman, SEBI, and Claude Marx, Director General, CSSF
The Reserve Bank of India has approved the appointment of Vishwavir Ahuja as the Managing Director and CEO of RBL Bank for a one-year period with effect from June 30, 2021.
Ahuja has been the Managing Director & CEO of RBL Bank since June 30, 2010. Before RBL Bank, Ahuja was the Managing Director & CEO of Bank of America, India.
In 2017 the UN General Assembly proclaimed 5 June as the "International Day for the Fight Against Illegal, Unreported and Unregulated Fishing." UN also declared 2022 as the International Year of Artisanal Fisheries and Aquaculture, which will help focus attention on the small-scale fishermen and women.
The Reserve Bank of India slashed its growth estimate for 2021-22 to 9.5% from a projection of 10.5%, citing the impact of the second wave of the pandemic. The central bank, however, raised the inflation estimate a tad higher to 5.1% due to gathering price pressures.