June 13, direction for deeper bilateral engagement on issues of mutual interest. Delayed by two-three

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1 June 13, 2017 PM Modi to visit United States on June 25 Prime Minister Narendra Modi will be on a two day visit to United Sates on 25th of this month. During the visit, Mr. Modi will hold official talks with President Donald Trump on 26th June in Washington. This will be the first meeting between the two leaders. The discussion will provide a new direction for deeper bilateral engagement on issues of mutual interest. Delayed by two-three days, heavy rains hit Mumbai city on the 12th June as the much-awaited southwest monsoon hit Maharashtra. The three-hour rains flooded city streets triggering traffic jams and delaying the flight schedule. While the metropolis was experiencing light intermittent showers for the past 24 hours, heavy rains started around 8.30pm and continued for almost three hours. The Colaba observatory in Mumbai recorded 94 mm of rainfall while Santa Cruz observatory witnessed 70 mm rainfall on the 12th June Finance Minister Arun Jaitley says states should generate funds from own resources for farm loan waivers Finance Minister Arun Jaitley has said, states keen on farm loan waiver must generate funds from their own resources. Talking to media after meeting heads of PSU Banks in New Delhi, Mr Jaitley said that the Reserve Bank of India, is at an advanced stage of preparing a list of bad loans where resolution is 1

2 required under the country's insolvency and bankruptcy rules. The Finance Minister said, the RBI is actively working on Non-Performing Assets resolution and action will be taken soon in this front. EU, Turkey to meet to put Turkey s bid to join EU European Union and Turkish officials are scheduled to meet in Brussels today to try and put Turkey s decadeslong bid to join the EU back on track. Turkish-EU relations recently hit one of their lowest ebbs following a bitter war of words between Turkish President Recep Tayyip Erdogan and Brussels over his controversial referendum to extend his powers. The latest effort to reset ties was the fruit of Erdogan s visit to Brussels after his April referendum victory. Retail inflation falls to all time low of 2.18 % in May Retail inflation fell to an all-time low of 2 (point) 18 per cent in May this year. Inflation fell as prices of kitchen staples like vegetables and pulses declined sharply. Consumer Price based inflation, or retail inflation had stood at 2.99 per cent in April this year, and at 5.76 per cent in May last year. Overall food inflation stood at minus 1.05 per cent in May, meaning that overall food prices declined. Prices of vegetables declined per cent, and prices of pulses and products fell per cent during the month. 2

3 Industrial production growth slips to 3.1 percent in April Growth in the country's industrial production slipped to 3 (point) 1 per cent in April this year. Factory output measured in terms of the index of industrial production, IIP, had expanded 6.5 per cent in April last year, and 3.75 per cent in March this year. According to data released by the Central Statistics Office, today, the manufacturing sector grew 2.6 per cent in April, mining sector output grew 4.2 per cent, and power generation rose 5.4 per cent in April. Task force to resolve banking issues of exporters soon Departments of Commerce and Financial Services have decided to set up joint task force to resolve banking related issues of exporters. Directorate General of Foreign Trade, DGFT in a tweet said, the issue was discussed with Commerce Secretary at a meeting organised by the Department of Financial Services. Exporters face several issues related with bank, which increases their transactions cost. 3

4 IRDAI takes over management of Sahara Life Insurance The Insurance Regulatory and Development Authority of India (IRDAI) has taken over the administration of Sahara India Life Insurance, a first of its kind move in the insurance sector. It has named RK Sharma, General Manager, and IRDAI, as administrator to manage the affairs of the insurer. The IRDAI has reasons to believe that Sahara India Life Insurance Co is acting in a manner likely to be prejudicial to the interests of holders of life insurance policies, TS Vijayan, Chairman, IRDAI, said in an order issued here on Monday. The administrator will act as per the powers and duties and applicable provisions under the Insurance Act, 1938 and manage the business with the greatest economy, compatible with efficiency and regular reporting to the regulator, the order states. India s electronics market may cross $400 billion by 2020: study The country s electronics market is projected to grow at a CAGR (compound annual growth rate) of 41 per cent for three more years to cross $400 billion by 2020, says a joint study by the industry chamber Assocham and NEC Technologies. India has a share of about 1.5 per cent in the world in total electronics hardware production at $32.46 billion in The domestic consumption of electronic hardware in was $63.6 billion, out of which 58 per cent was fulfilled by imports, noted the study, calling for steps to boost domestic production. 4

5 Jitu Rai-Heena Sidhu clinch gold medal in ISSF World Cup India's Jitu Rai and Heena Sidhu combined to clinch the gold medal in mixed team 10m air pistol event of the ISSF World Cup, beating Russia 7-6 in the final in Gabala, Azerbaijan today. France beat Iran by an identical score to win the bronze in the event. Earlier, on day four of the competitions at the rifle/pistol World Cup, both Jitu and Heena narrowly missed out on making the final of the individual men's and women's 10m air pistol event, finishing 12th and 9th in their respective qualification rounds. Only the top eight make it through to the final. Champions Trophy: Pak notches up 3-wicket win over Sri Lanka; all semifinalists confirmed In ICC Champions Trophy Tournament, all semifinalists have been confirmed as Pakistan notched up a three-wicket win over Sri Lanka in their must-win Group B match yesterday. Now, group A topper England will lock horns with Pakistan in first semifinal on the 14th June at Cardiff Wales Stadium. In another semifinal, on15th June, top in the group B table India will take on Bangladesh at Edgbaston Cricket Ground in Birmingham. 5