Federal Reserve keeps rate unchanged - #Mandi for the US Economy
The Federal Reserve kept its benchmark short-term interest rate pegged near zero as viral outbreak continues to be a drag on the economy. The central bank said it will also continue to buy about $120 billion in Treasury and mortgage bonds each month to maintain liquidity into the financial markets and spur borrowing and spending.The Fed acknowledged that the economy has rebounded from the lows of March and April, but ongoing coronavirus pandemic will weigh heavily on economic activity, employment and inflation. The U.S. dollar fell to a two-year low after the Fed decided to keep interest rates near zero for as long as it is required.

Pressure on Telecom industry - #Mandi for Telecom
The Telecom industry continues to lose on subscriber base for the second consecutive month. The industry lost 82 lakh subscribers during the complete lockdown in April, while in May, 28 lakh connections were lost.Vodafone Idea Limited (VIL) and Bharti Airtel Limited continues to see the subscriber base falling. Reliance Jio continues to maintain growth.

Cabinet approves new education policy - #Teji for Education
The Cabinet approved the new National Education Policy after 34 years.
Under the new system, any student can exit a degree program from the first year onwards if he/she wants only a certificate. Thrust will be on using the mother tongue as a medium of instruction till the fifth grade. Further, students will be able to pursue subjects of their choice irrespective of their educational background. It means an engineering student could study a course in History while a humanities student can take Physics or Mathematics as a subject. Under the new policy, there will be a single higher education regulator instead of having different regulatory bodies like All India Council for Technical Education, University Grants Commission, and other local niche entities.