Beating the analysts’ estimates, India’s largest lender State Bank of India (SBI)  has announced an 83% growth in its net profit at Rs 16,694 crore for the quarter ending March 2023 (Q4FY23), driven by a healthy rise in interest income and lower provisions for bad loans.

In a major milestone, the bank’s net profit for the full year crossed Rs 50,000 crore for the first time at Rs 50,232 crore for Q4FY23, recording a growth of 58.6%. So far only two companies, Reliance Industries and SBI, have managed to cross the Rs 50,000 crore net profit mark in FY23.

Stellar performance

Rs 50,232 crore: Net profit for FY23, profit crosses Rs 50,000 crore for the first time

58.5%: Rise in net profit for FY23

29.5%: Rise in net interest income in Q4 of FY23

Rs 40,393 crore: Net interest income in Q4 of FY23

Rs 32.69 lakh crore: Gross advances at the end of March 2023

Media firm New Delhi Television Ltd (NDTV), now owned by Adani group, has said it plans to launch nine news channels in different Indian languages in phases.

Last year in December, Adani Group had gained full control of news broadcaster NDTV after it acquired most of the stake of the founders -- Prannoy Roy and Radhika Roy -- at a premium of almost 17 per cent over the rate it had paid to minority shareholders of the firm.

AMG Media Networks Ltd (AMNL), through its indirect subsidiary RRPR Holding Private Limited, had acquired a 27.26 per cent stake in NDTV, resulting in a controlling stake of 64.71 per cent in NDTV by AMNL through its subsidiaries.

NDTV's revenue for the financial year ended on March 31, 2023 was at Rs 220.65 crore.

An 84-year-old climber attempting to become the oldest person to summit all the world’s highest peaks was rescued from a mountain in Nepal where he was injured.

Spanish climber Carlos Soria was attempting to scale Mount Dhaulagiri but was hurt on his way to the top.

He was flown from the mountain by a rescue helicopter and brought to a hospital in Kathmandu for treatment.

Sherpa guides and fellow climbers had helped him down the mountain to base camp after he was injured.

Soria had scaled 12 of the 14 highest mountains in the world above 8,000 meters (26,240 feet) including Mount Everest, which is the tallest of them all.

Hundreds of climbers and their guides try to scale the highest peaks in Nepal during the popular spring mountaineering season when the weather conditions on the mountains are most favorable.

The season begins in March and ends in May after which the weather deteriorates, making it dangerous to remain on the mountain.

Q1. Which of the following statement is / are  true ?

A  The Reserve Bank of India (RBI) on May 19  asked banks to stop with immediate effect issuing notes of  Rs 2,000

B  Unlike the November 2016 shock demonetisation when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be legal tender till  Sep 30, 2023.

C  The Rs 2,000 denomination bank note was introduced in Nov 2016

D  The RBI had stopped printing Rs 2,000 notes in 2018-19

1. Only  A & B                      
2. Only  A , B & C
3. Only  A , C & D
4. Only  A , B & D
5. All the Above

Q2. The Supreme Court  has affirmed the validity of the laws amended by the states of Tamil Nadu, Karnataka and Maharashtra, which seek to legitimise the bull taming sport called

1. Thang-ta
2. Jallikattu                 
3. Kalaripayattu
4. Mallakhamb
5. None of These

Q3. Name the  Indian-origin police officer who  has become the highest-ranking South Asian woman in the New York Police Department, after her recent promotion to the rank of Captain ?

1. Sneha Singh
2. Neha Valluri
3. Pratima Bhullar Maldonado
4. Simran Patil
5. None of These

Q4. The President of  Ukraine Volodymyr Zelenskyy has attended the Arab League  summit recently neld in

1. Qatar
2. Oman
3. Saudi Arabia
4. UAE
5. None of These

Q5. The yen is the official currency of

1. China
2. Taiwan
3. Korea
4. Vietnam
5. None of These

Answers

1----------------------5   All the Above

2------------------------2  Jallikattu         

3------------------------3   Pratima Bhullar Maldonado

4-------------------------3 Saudi Arabia

5--------------------------5 None of These Ans Japan

The Reserve Bank of India (RBI) on May 19  asked banks to stop issuing Rs 2,000 notes with immediate effect. The Rs 2,000 notes will continue to be legal tender, the RBI said in a statement.

Unlike the November 2016 shock demonetisation when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be legal tender till September 30, 2023.

In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, the RBI said exchange of Rs 2,000 bank notes into bank notes of other denominations can be made up to a limit of Rs 20,000 at a time at any bank starting from May 23, 2023.

The central bank has asked the public to deposit Rs 2,000 bank notes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch.

Deposit into bank accounts can be made in the usual manner, that is, without restrictions and subject to extant instructions and other applicable statutory provisions, it said.

The move comes amid alleged concerns about the highest denomination notes being used to hoard black money.

The RBI had stopped printing Rs 2,000 notes in 2018-19 and the notes were rarely in circulation.

The Rs 2,000 denomination bank note was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of the legal tender status of all Rs 500 and Rs 1,000 bank notes in circulation at that time.

The RBI said it has also been observed that Rs 2,000 denomination note is not commonly used for transactions.

To complete the exercise in a time-bound manner and to provide adequate time to the members of public, the RBI has asked all banks to provide deposit and/or exchange facility for Rs 2,000 bank notes until September 30, 2023.

Also, the facility for the exchange of Rs 2,000 bank notes up to the limit of Rs 20,000 at a time shall also be provided at the 19 Regional Offices (ROs) of RBI having Issue Departments from May 23, 2023.

As per the RBI, about 89 per cent of the Rs 2,000 denomination banknotes were issued prior to March 2017 and are at the end of their estimated life span of 4-5 years.

The total value of such banknotes in circulation has declined from Rs 6.73 lakh crore at its peak on March 31, 2018 (37.3 per cent of notes in circulation) to Rs 3.62 lakh crore constituting only 10.8 per cent of notes in circulation as on March 31, 2023.

In January 2014, the RBI announced the withdrawal from circulation of all bank notes issued prior to 2005.

Supreme Court on May 19  got two new judges as CJI Chandrachud administered oath to Andhra Pradesh HC Chief Justice Prashant Kumar Mishra and Senior Advocate KV Vishwanathan as Supreme Court judges.

The Supreme Court on May 18  stayed the West Bengal government’s May 8 order banning the screening of the film 'The Kerala Story' in the state.

The bench also directed the filmmaker to put a disclaimer in the movie, which claims 32,000 women from Kerala were converted to Islam, that it is a “fictionalised version of events”. On West Bengal’s contention that screening of the film will disturb social harmony, the bench said it is the duty of the state to maintain law and order as the film has been granted certification by the Central Board of Film Certification.

The Supreme Court also directed the Tamil Nadu government to provide adequate security to movie goers

The order came in a plea filed by makers of the Kerala Story, Sunshine Pictures Private Ltd, and Vipul Amrutlal Shah challenging the Mamata Banerjee government’s decision to ban the screening of the film. 

The Supreme Court  has affirmed the validity of the laws amended by the states of Tamil Nadu, Karnataka and Maharashtra, which seek to legitimise the bull taming sport called ‘Jallikattu’, ‘Bullock Cart Race’ and ‘Kambala’, by taking note of the fact that the law and consequent rules prohibit causing any physical disturbance to the bulls.

A five-judge bench in the 56-page verdict authored by Justice Aniruddha Bose, while upholding The Prevention of Cruelty to Animals (Tamil Nadu Amendment) Act, 2017, The Prevention of Cruelty to Animals (Maharashtra Amendment) Act, 2017, and The Prevention of Cruelty to Animals (Karnataka Second Amendment) Act, 2017, took note of the fact that the three states had taken Presidential Assent with regard to the law.