 The sovereign rating of India has been downgraded by the Moody’s Investors Service to “Baa3”. The rating has been lowered from “Baa2” to “Baa3” citing the challenges faced by India in implementing the policies in order to reduce the risks of a sustained period of low growth and deteriorating fiscal position. “Baa3” is the lowest investment grade that is just a notch above the junk status. Moody’s Investors Service has also expected contraction by 4% in the India’s real GDP in fiscal 2021, due to the shock from the coronavirus pandemic as well as the related lockdown measures taken by India to contain the COVID-19 pandemic. It has also expected the growth of 8.7% in fiscal 2022. |
 United Nations celebrates World Bicycle Day every year on 3rd June to advance the use of the bicycle as a means of fostering sustainable development. The day aims to strengthen education for children and young people, preventing disease, promoting health, promoting tolerance, mutual understanding and respect and facilitating social inclusion and a culture of peace. The World Bicycle Day is being observed every year to encourage member nations to give particular attention to the bicycle in cross-cutting development strategies and to improve road safety and integrate it into sustainable mobility and transport infrastructure planning and design. It also aims to promote the bicycle among all members of society. |
 A disinfection unit named as “Ultra Swachh” has been developed by the Defence Research and Development Organisation (DRDO). It has been developed to disinfect a wide range of materials such as electronics items, fabrics, Personal Protective Equipment (PPEs) etc. “Ultra Swachh” has been developed in compliance with International Standards of Industrial, Occupational, Personal and Environmental Safety. It would be available in two variants namely Ozonated Space and Trinetra Technology. It comprises of Ozonated Space Technology and uses the advanced oxidative process for disinfection process. It is a double layered system with specialised Ozone sealant technology which ensures the trapping of ozone for the necessary disinfection cycle. |
 Former Union Minister and three-time Congress MP from Ladakh, P Namgyal passes away. He has served as the Minister of State for Parliamentary Affairs, Surface Transport and Chemicals and Petro chemicals. He was also an agriculturist, a social worker and served as the secretary general and vice president of the Pradesh Congress Committee in the erstwhile Jammu and Kashmir state. P Namgyal was the member of the then Jammu and Kashmir Legislative Council from 1960-73 and then from 1974-80, and later served as the union deputy minister in the Central Government between 1988-89. |
 Khelo India e-Pathshala programme has been inaugurated by the Union Minister for Youth Affairs & Sports, Kiren Rijiju. He inaugurated the programme via a webinar which featured the participation of young archers, archery coaches as well as experts from across the nation. Khelo India e-Pathshala programme has been launched by the Sports Authority of India (SAI) in collaboration with National Sporting Federations (NSF). It is India’s first ever National-level open online coaching and education programme for the grassroot level athletes across India. Under this programme, eminent athletes and senior coaches will taught modules to improve the technical skills of the grassroot level athletes across India. |
 Prime Minister Narendra Modi has launched the technology platform CHAMPIONS which stands for Creation and Harmonious Application of recent Processes for Increasing the Output and National Strength. The portal is essential for creating the smaller units big by solving their grievances, encouraging, supporting, helping and handholding. It is a real one-stop-shop solution of MSME Ministry. |
Detailed objectives of CHAMPIONS:
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 WHO has launched the ‘COVID-19 Technology Access Pool’ for equitable access to life-saving tech. This comes after at least 37 countries jointly appealed to the World Health Organisation for common ownership of vaccines, medicines and other diagnostic tools to combat the global health crisis. C-TAP aims to accelerate the development of vaccines and medicines through the sharing of research and information and to increase manufacturing capacity for any products that are developed. WHO has also issued a ‘Solidarity Call to Action’ urging other stakeholders of the UN health agency to join the cause. |
 J&K cadre IAS, Pradip Kumar Tripathi, has taken over as Secretary, Ministry of Steel, Govt. of India. Prior to this, Shri Tripathi has been posted as Special Secretary and Establishment Officer in Department of Personnel and Training (DoPT). |
 Yes Bank Limited has acquired a 24.19% stake in Dish TV India Ltd, a corporation providing Direct to Home (DTH) television service in India, following invocation of 44.53 crores pledged shares thanks to default in payment of the debt by Dish TV and a few other companies. This is the fifth instance within the past one year that Yes Bank has acquired majority stake during a non-banking business simply thanks to the invocation of the pledge against shares of a corporation that had availed loans from the bank and later did not repay the dues. |
 India skipper Virat Kohli is the only cricketer to feature in Forbes’ list of the top 100 highest-paid athletes in the world for the year 2020. Kohli is ranked at number 66 with estimated earnings of $26 million. Swiss tennis great, Roger Federer has topped the list of world’s highest-paid athlete for 2020 with an estimated $106.3 million. Soccer stars Cristiano Ronaldo ($105 million), Lionel Messi ($104 million ) and Neymar ($95.5 million) and NBA’s LeBron James complete the top 5 positions in the list. The factors used by Forbes’ for calculation were athletes’ revenue, including prize money, salaries, contract bonuses, endorsements, royalties, and appearance fees from June 1, 2019, until June 1, 2020. |
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