1. World day against Child Labour observed globally

(i) The International Labour Organisation (ILO) launched the World Day Against Child Labour in 2002 to draw attention to the global extent of child labour, the actions and efforts needed to eliminate the same.

(ii) Each year 12th June, brings together governments, employers and workers organisations, civil society among others to highlight the plight of child labourers and discuss the solutions to help them.

(iii) Indian Nobel Laureate Kailash Satyarthi on Thursday called on all countries to ratify an International Labour Organisation (ILO) protocol against forced labour and ensure inclusion of the goal of abolition of child slavery in the sustainable development goals (SDGs).

2. Expect more interest rate cuts in public sector banks: Finance Minister 

(i) Union Finance Minister Arun Jaitely during an annual review meeting with public sector banks  and financial institutions on Friday, asked the banks to pass on the rate cuts made by the Reserve Bank of India (RBI) to the customers so as to offer loans at cheaper interest rates.

(ii) The banks unanimously offered that in the coming two to three months greater transmission of lower rates could be seen.

3. Industrial Production grew at two months high touching 4.1 % in April 

(i) Industrial production touched a two month high at 4.1 percent in April with manufacturing and  capital goods showing a good performance. Retail inflation inched up to 5.01% in May from 4.87 in April.

(ii) The index of industrial production (IIP) also corroborates – a 46% annual increase in the indirect tax collection in April.

4. Dick Costolo resigned as CEO of twitter Inc

(i) Twitter Inc. Chief Executive Officer Dick Costolo stepped down, highlighting the social media company’s struggle to  define its vision.

(ii) Jack Dorsey, a co-founder is to take Costolo’s place starting 1st July till a suitable permanent replacement takes over. 

(iii) These changes signals that the company is focusing on improving its product, which lets users post short messages, videos and photos, after a slew of leadership changes in the past five years.

5. Forbes released World’s 100 highest paid Athletes list 2015

(i) Forbes released the list of world’s 100 highest paid Athletes on both June 2015.

(ii) The list was topped by World famous boxer Flyod Mayweather, followed by Manny Pacquiao and Cristiano Ronaldo in second and third place respectively. Indian athlete to have figured in this list was Mahendra Singh Dhoni.

(iii) The earnings were calculated based on athletes’ salaries, bonuses, prize money, appearance fees, as well as licensing and endorsement income in the previous one year. 

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