- Central Institute of Plastics Engineering & Technology (CIPET) has been renamed as Central Institute of Petrochemicals Engineering & Technology (CIPET), a premier national institution under the Ministry of Chemicals and Fertilizers, Govt. of India. The announcement was made by the Union Minister for Chemicals and Fertilizers DV Sadananda Gowda.
- The Reserve Bank said it has imposed a penalty of Rs 5 crore on state-owned Bank of India for non-compliance with certain provisions, including those related with NPA.
- Vakrangee Ltd said it has tied up with Life Insurance Corporation of India (LIC) to distribute micro insurance products in unrepresented and underserved areas through its centres across the country.
- The country’s GDP growth is likely to be at 3.6 per cent in January-March 2020 as economic activity came to a complete halt due to the countrywide lockdown imposed to contain the coronavirus outbreak says a report.
- Foreign direct investment (FDI) in India grew by 13% to a record of $49.97 billion in the 2019-20 financial years according to official data.
- The country’s economy, which is likely to contract by 5 per cent in the current fiscal, may expand by around 5 per cent in the next financial year, former RBI governor Duvvuri Subbarao said.
- The 36th National Games, scheduled to be held in Goa, were postponed indefinitely due to the coronavirus pandemic.
- Sri Lanka’s cricket board suspended pace bowler Shehan Madushanka from all forms of the game, two days after he was arrested allegedly in possession of heroin.
- Kerala Police will get its first woman Director General when R.Sreelekha assumes office as the new head of the Kerala Fire and Rescue Services on 1st June.
- Every year on 29 May, the United Nations commemorates the International Day of United Nations Peacekeepers.
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