• Economy and Business

ONGC topples IOC to regain most profitable public sector company

• ONGC has toppled Indian Oil Corp to regain crown of being the country’s most profitable public sector company.
• According to earnings statements of the listed companies, ONGC reported a 34% jump in its 2018-19 fiscal net profit to ₹ 26716 Cr.
• IOC registered a net profit of ₹17.274 crore for the fiscal year ended 31 March 2019.

• Economy and Business

World Bank retains growth forecast for Indian economy at 7.5%

• As per the Global Economic Prospects report from the World Bank, the forecasted growth rate of India has retained at 7.5% for the current financial year.
• Also, World Bank stated that India’s growth rate is expected to remain the same for the next two fiscals.

• Economy and Business

RBI releases report on Benchmarking India's Payment Systems

• RBI released the report on ‘Benchmarking India’s Payment Systems’ which mentions that India is ‘strong’ in areas like having laws & cash in circulation per capita.
• It provides a relative position of payment system ecosystem compare to other payment systems.
• The Reserve Bank has undertaken an exercise of benchmarking India’s Payment Systems vis-à-vis payment systems in a mix of advanced economies, Asian economies and the BRICS nations.

• Economy and Business

ICICI Bank launches centre for MSMEs in Bengaluru

• ICICI Bank launched a centre in Bengaluru to provide business solutions exclusively to start-ups and MSME sector.
• The services offered include working capital loans up to ₹20 Cr, business loans up to ₹1 Cr, instant overdraft facility of ₹15 lakh etc.
• The centre also has a legal and valuation desk to assist customers in resolving challenges pertaining to collaterals offered for various loans.

• Sports

ITF men’s Futures tennis: Sidharth wins title

• Sidharth Rawat outplayed Rio Noguchi of Japan to clinch his maiden title in the ITF men’s Futures tennis tournament.
• He had a career-best rank of 430.
• David Haggerty is the President of ITF.

• Appointments

CAG Rajiv Mehrishi elected as external auditor of WHO

• CAG of India Rajiv Mehrishi has been elected as external auditor of WHO for four years from 2020 to 2023.
• Mehrishi was elected at the 72nd World Health Assembly in Geneva last month with a majority.
• Rajiv Mehrishi will take over from the incumbent External Auditor of WHO, the Supreme Audit Institution of Philippines.

• Important Days

World Environment Day is being observed on June 5

• World Environment Day is observed on June 5 every year.
• In 2019, China is hosting World Environment Day and the theme is ‘Beat air pollution’.
• In 2018, India hosted the main event centered on combatting pollution caused by plastic.
• The United Nations (UN) began observing the day in the year 1974.
• It started this annual event in order to raise awareness towards pressing environmental issues prevalent in our planet and the action to be taken to tackle them.

• Obituaries

Dinyar Contractor, who featured in Baadshah, Khiladi, passes away

• Veteran comedian, film and theatre actor Dinyar Contractor passed away aged 79 on Wednesday.
• He had been suffering from various age-related illnesses.
• The actor had featured in several Bollywood films including ‘Baadshah’, and ‘Khiladi’ along with television shows like ‘Khichdi’ and ‘Hum Sab Ek Hain’, and was also awarded the Padma Shri in January 2019.​

• States

WB sign $287 million loan agreement for the Tamil Nadu Health System Reform Programme

• GOI, Tamilnadu govt & West Bengal signed a $287 million loan agreement for the TN Health System Reform Programme.
• It aims to improve the quality of health care, reduce the burden of non-communicable diseases & fill equity gaps in reproductive & child health services in Tamilnadu.
• Tamil Nadu is also dealing with a growing burden of NCDs as they account for nearly 69 per cent of deaths in the State.

• States

L&T Financial Services launches ‘Digital Sakhi’ in Tamilnadu

• L&T Financial Services launched an educational programme ‘Digital Sakhi’ in 2 villages of Villupuram dist in Tamilnadu.
• It is aimed at digital financial inclusion of rural women.
• It has identified 500 women from trades such as dairy, poultry and goat-rearing etc.
• LTFS in association with Sri Aurobindo Society, will train and develop a team of 100 rural women (Digital Sakhis) as digital enablers, who in turn, will train about 40,000 others in using digital modes of payments.