 India’s largest and fastest growing consumer lending technology company ZestMoney, partnered with Digit Insurance to offer EMI insurance to the company’s five million customers. The policy will cover EMI cost in the event of hospitalization, death or permanent disability. The insurance product is specifically designed for ZestMoney’s customers which can be availed while applying for a loan on the digital platform. |
| Source: Business Standard |
 Mortgage lender HDFC has sold over 4.22% stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs. 899.43 crore. Post the completion of the aforesaid sale of shares, Gruh would cease to be a subsidiary of the Corporation. Gruh is engaged in the business of providing home loans and is registered with the National Housing Bank as a housing finance company. |
| Source: Live Mint |
| The government has reduced the total rate of contribution made by workers and employers towards the Employees’ State Insurance (ESI) scheme from 6.5% to 4% for the first time in over two decades. At present, nearly 4.75% of a worker’s monthly salary goes towards ESI as the employer’s contribution and 1.75% of the income is the employee’s share at present. Now, 3.25% will be the employer’s share and 0.75% the employee’s. This will be effective from July 1, 2019. |
| Source: Business Standard |
 Based on the recommendations of the Committee on Currency Movement (CCM), the Reserve Bank have directed banks to ensure their ATMs are grouted to a wall, pillar, or floor by September-end, except those installed in high secured premises such as airports, to enhance security of the cash vending machines. The committee to review the entire gamut of security of treasure in transit is chaired by Shri D.K. Mohanty. |
| Source: Economic times |
 The Sahitya Akademi announced name of 22 winners for Bal Sahitya Puraskar and 23 winners for Yuva Puraskar. The winners of both the awards will receive a casket containing an engraved copper plaque and a cheque of Rs 50,000. |
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| Source: Business Standard |
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| Akshaya Patra, a non-profit organisation, has been awarded the BBC World Service Global Champion Award. It runs one of the world’s largest school meals project in India. |
| Source: The Hindu |
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Declaration/Agreements/MoUs during the visit of Prime Minister to Kyrgyz Republic:
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| Source: Press Information Bureau |
 The Intersessional meeting of Kimberley Process (KP) will be hosted by India from 17th to 21st June 2019 in Mumbai. Beside this, two special forums regarding Diamond Terminology and Artisanal Mining – Small Steps to Larger Outcomes, will be held during the Intersessional. India is one of the founder members of Kimberley Process Certification Scheme and is the Chair of Kimberley Process for the year 2019 with Russian Federation as Vice Chair. Alok Vardhan Chaturvedi, Director General, Directorate General of Foreign Trade, has been designated as KP Chair 2019 and Rupa Dutta, Economic Adviser, Department of Commerce, is India’s KP Focal Point. |
| Source: Press Information Bureau |
 The International Labour Organization (ILO) launched the World Day Against Child Labour in 2002 to focus attention on the global extent of child labour and the action and efforts needed to eliminate it. Each year on 12 June, the World Day brings together governments, employers and workers organizations, civil society, as well as millions of people from around the world to highlight the plight of child labourers and what can be done to help them. The theme for World Day Against Child Labour 2019 is Children shouldn’t work in fields, but on dreams! |
| Source- The United Nations |
 The Very Severe Cyclonic Storm ‘VAYU’ over East-central Arabian Sea moved nearly northwards with a speed of about 13 kmph in last six hours and lay centred over East-central Arabian Sea, about 470 km west-northwest of Goa, 280 km south-southwest of Mumbai (Maharashtra) and 340 km nearly south of Veraval (Gujarat). It is very likely to move nearly northwards and cross Gujarat coast between Porbandar and Mahuva around Veraval & Diu region as a Very Severe Cyclonic Storm with wind speed 145-155 kmph gusting to 170 kmph around morning of 13th June 2019. |
| Source- DD News |
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