 Global Rating agency Fitch has announced that ICICI Bank and Axis Bank have inequalities in their risk control mechanisms and has revised down its outlook on the latter to negative on sour assets worries. It downgraded ICICI Bank’s ‘support rating’ to ‘3’, from ‘2’, its support rating floor to ‘BB+’, from ‘BBB-’. But the agency has affirmed the issuer default ratings and viability ratings of ICICI Bank and Axis Bank at ‘BBB-’ and ‘BBB-’. Axis Bank’s rating degraded to negative from stable, pointing to the high proportion of NPAs. |
| Source- The Economic Times |
 Senior journalist and writer Adiraju Venkateswara Rao passed away. He was 79. Rao worked in different Telugu and English newspapers. He also authored several books. He played an active role in the separate Telangana agitation in 1969 and the state government honoured him during the Telangana formation day celebrations recently. |
| Source- The Hindu Business Line |
 Union Minister for Water Resources, River Development and Ganga Rejuvenation, Shipping, Road Transport & Highways Nitin Gadkari released a book ‘Water productivity mapping of major Indian crops’ published by NABARD in a function at New Delhi. The book ‘Water productivity mapping of major Indian crops’ is based on a study of 10 important crops by a team under the leadership of leading agricultural economist Dr. Ashok Gulati. |
| Source- Press Information Bureau (PIB) |
 Maharashtra government has signed Memorandum of Understanding (MoU) with Quebec province of Canada to increase economic cooperation and welfare of tribal community in the state. The MoU was signed between Chief Minister Devendra Fadanvis and Philippe Couillard, Prime Minister of Quebec province of Canada. Under the MoU, the key areas of focus are information technology (IT), biotechnology, artificial intelligence and welfare of the tribal community. |
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 The World Elder Abuse Awareness Day (WEAAD) is observed every year on June 15 across the world to highlight the often silent suffering of the elder generation. The theme this year is “Moving from Awareness to Action through a Human Rights based approach”. The global population of people aged 60 years and older is predicted to be double, from 900 million in 2015 to about 2 billion in 2050. With growing global population of elderly people, and increase in longevity, abuse of elderly is increasing. It is serious social problem that affects health and human rights and can cause death. The World Health Organisation (WHO) estimates that around 1 in 6 older people experienced some form of abuse. Rates of abuse may be higher for older people living in institutions than in community. Elder abuse is predicted to increase as many countries are experiencing rapidly ageing populations. The abuse can lead to serious physical injuries and long-term psychological consequences. |
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 Japan’s Cabinet has adopted an economic plan that will allow more foreign workers to work in the country. This proposal will help rapidly aging country to make up for its declining workforce. In recent times, number of foreign workers in Japan has nearly doubled to 1.28 million. |
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 The Union Minister for Railways, Coal, Finance & Company Affairs, Mr Piyush Goyal inaugurated Neyveli Lignite Corporation India Limited (NLCIL)’s three 100 MW Solar Power Projects for commercial operation and dedicated these projects to the Nation in Tamil Nadu. The Solar Power projects with an installed capacity of 100 MW each, were erected at a cost of Rs.1300 Crores, which includes Operation & Maintenance cost for 15 Years. The power produced from these units will be given to Tamilnadu Power Generation and Distribution Company (TANGEDCO) at a cost of Rs.4.41/- per unit. An MoU was also signed by NLCIL and Anna University. The MoU would help set up a pilot project on solar drying of lignite, in order to increase its Caloric Value from 2700 Kcal to 4350 Kcal. The cost of the pilot project is Rs.2 Crore 69 Lakhs. |
| Source- Press Information Bureau (PIB) |
 Giorgi Kvirikashvili, prime minister of Georgia, has announced his resignation amid a disagreement with Bidzina Ivanishvili, the leader of the ruling party. Kvirikashvili, 50, has been the country's prime minister since 2015. The prime minister's resignation comes amid growing popular discontent over his government's handling of the economy and after mass protests in recent months. |
| Source- The Aljazeera |
 Former World Bank Economist Omar al-Razzaz was sworn in as Jordan's Prime Minister after King Abdullah issued a decree approving the new government. The 58-year-old, who studied at Harvard University, was tasked with reviewing the country's disputed tax system. Omar succeeded Hani al-Mulki who resigned following mass protests over price hikes and other government economic policies. |
| Source- The Reuters |
 Mr J P Nadda, Union Minister of Health and Family Welfare exchanged the MoU with the State Health Ministers of 20 States marking their commitment towards the launch of the Ayushman Bharat – National Health Protection Mission (AB-NHPM). Smt. Anupriya Patel, Ministers of State for Health and Family Welfare and Amitabh Kant, CEO NITI Aayog were also present at the function. A web portal for initiating the empanelment of hospitals under the mission was also launched. |
| Source- Press Information Bureau (PIB) |
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