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CURRENT AFFAIRS : BANKING & FINANCE

Dividend from RBI in FY25 Expected the Government to Yield Rs 75,000-85,000 Crore                              

• The central government is likely to receive a dividend of Rs 75,000-85,000 crore from the Reserve Bank of India (RBI) in the current financial year.
• This is slightly lower than the Rs 87,416 crore surplus transfer in FY24.
• The Centre has budgeted Rs 1.02 trillion in surplus transfer from the RBI and public sector banks (PSBs) for FY25, but has not specified the breakup.

Key Highlights :

• Foreign Exchange Transactions and Impact on Earnings:Earnings on foreign exchange transactions are expected to be lower due to reduced dollar sales.
• Gross dollar sales were recorded at $ 151.4 billion in FYTD24 (till February), compared to $206.4 billion in FYTD23 (till February).
• RBI Balance Sheet Expansion in FY24:The expansion was driven by increases in:
• Foreign currency assets (up 13.8% year-on-year).
• Loans and advances to scheduled commercial banks (136% year-on-year).
• Gold reserves (17.1% year-on-year).
• The rise in foreign exchange reserves was primarily due to forex purchases, which accounted for 70% of the increase, followed by revaluation gains.
• RBI Balance Sheet Liabilities and Currency:On the liabilities side, the growth was driven by increases in currency, scheduled commercial bank (SCB) deposits, and other deposits.
• Currency represents 49% of total assets/liabilities in FY24, down from 53% in FY23.
• RBI Balance Sheet Size as a Percentage of GDP:The size of the RBI balance sheet relative to GDP has risen to 24.1% in FY24 from 23.5% in FY23.
• This is lower than the Covid-19 peak of 28.6% in FY21, indicating a normalization of the balance sheet.
• For FY25, the RBI balance sheet is expected to grow at a similar pace as nominal GDP, maintaining the ratio at 24%.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar

Jammu and Kashmir Bank Reports Record Annual Profit of Rs 1,767 Crore for FY24          

• Jammu and Kashmir (J&K) Bank reported a record net profit of Rs 1,767 crore for the fiscal year 2023-24.
• This represents a 48% increase over the previous record of Rs 1,197 crore achieved in the prior fiscal year.

Key Highlights :

• Total Income Growth:The bank's total income increased by 10% to Rs 6,029.17 crore, compared to Rs 5,502.09 crore in the previous fiscal year.
• Improved Asset Quality:The gross non-performing assets (NPAs) decreased to a decadal low of 4.08%.
• The net non-performing assets (NPAs) dropped to 0.79%.
• Provision Coverage Ratio (PCR):J&K Bank's PCR stood at 91.58%, reflecting its commitment to prudential provisioning and risk mitigation.
• Business Growth:Total deposits increased by 10.44% year-on-year to Rs 1,34,774.89 crore as of March 31, 2024, up from Rs 1,22,037.74 crore the previous year.
• Net advances rose by 14% to Rs 93,762.51 crore in Q4 for FY23-24, compared to Rs 82,285.45 crore in the same period a year ago.

About Jammu and Kashmir Bank :

• Founded : 1 October 1938
• Headquarters : Srinagar, Jammu and Kashmir, India
• MD & CEO : Baldev Prakash

Securities and Exchange Board of India Mandates Portfolio Management Services Providers to Register with Association of Portfolio Managers in India                                     

• The Securities and Exchange Board of India (SEBI) has made it compulsory for Portfolio Management Services (PMS) providers to register with the Association of Portfolio Managers in India (APMI).
• This requirement aims to enhance oversight and streamline operations in the financial sector.
• Objective of the Mandate:
• The new regulation aims to promote collective oversight of PMS distributors, fostering a more efficient and transparent business environment for portfolio managers.
• It also seeks to promote ease of doing business for portfolio managers.
• The directive will come into effect from January 1, 2025.
• APMI will issue the criteria for registration of distributors by July 1, 2024.
• In 2023,, APMI had introduced a distributor registration portal through which individuals can obtain APMI Registration Number (APRN) to sell PMS.
• The registration was voluntary for existing PMS distributors.

About SEBI :

• Established: 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters: Mumbai, Maharashtra
• Chairman: Madhabi Puri Buch
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance, GoI.

Top 4 Credit Card Issuers in India Experience Market Share Decline in FY24: RBI Data                                 

• The Reserve Bank of India (RBI) reported that the market share of the top four credit card issuers in India declined during FY24 in terms of monthly card spends and total cards outstanding.
• The market share of the top 4 issuers-HDFC Bank, SBI Card, ICICI Bank, and Axis Bank dropped to 71.98% as of March 2024, from 74.79% a year earlier.

Key Highlights :        

• Credit Card Spends and Growth:Credit card spends surged 27% year-on-year (Y-o-Y) to Rs 18.26 trillion in FY24, up from nearly Rs 14 trillion in the year-ago period.
• Total Number of Credit Cards:The total number of credit cards issued by banks in India increased to 101 million in March 2024, from 100.60 million at the end of February 2024.
• Major Credit Card Issuers:HDFC Bank leads in credit card issuances with 20.59 million cards in circulation.
• Other major players include SBI Card with 18.89 million cards, ICICI Bank with 16.95 million, and Axis Bank with 14.21 million.
• This decline is attributed to the expansion of the overall spending base and accelerated growth by mid-sized players.
• Growth of Next 10 Issuers:The market share of the next 10 credit card issuers, ranked 5 to 14, increased to 24.85% by the end of FY24 compared to 22.35% in the previous year.

RBI's Innovation Hub Collaborates with mysaltapp and FICCI Ladies Organisation to Release White Paper on Women Entrepreneurs in Middle India                          

• The Reserve Bank of India’s Innovation Hub (RBIH) subsidiary collaborated with mysaltapp and the FICCI Ladies Organisation to release a white paper titled "At The Helm: Women Entrepreneurs Transforming Middle India."

Key Highlights :

• Main Findings on Funding for Women Entrepreneurs:The white paper revealed that only 3% of women entrepreneurs in Tier 2 and Tier 3 cities have access to external funding.
• This indicates a significant gap in funding availability for women entrepreneurs in smaller cities compared to major urban areas.
• Statistics on Women-Led MSMEs in India:About 20% of India's Micro, Small, and Medium Enterprises (MSMEs) are women-led.
• The majority of these are sole proprietorships, with:
• 5.2% of small enterprises being women-led.
• 2.6% of medium enterprises being women-led.
• Social and Economic Challenges for Women Entrepreneurs:Indian women often bear the majority of family care responsibilities, affecting their business ventures and career opportunities.
• 86% of women relocated due to marriage, impacting continuity and access to employment or entrepreneurship opportunities.
• Tier 2 and Tier 3 cities generally lack scalable employment opportunities compared to Tier 1 and a few Tier 2 cities, limiting economic growth for women entrepreneurs.

About RBIH :

• The Reserve Bank Innovation Hub is a wholly owned subsidiary of the Reserve Bank of India (RBI) set-up to promote and facilitate an environment that accelerates innovation across the financial sector.

CURRENT AFFAIRS: NATIONAL NEWS

Centre may push for 12% GST for health insurance; lower rate is seen to widen cover

• To make health insurance more affordable and attractive, the Centre may push for a lower GST tax rate to 12%, compared to 18% now, on health insurance premiums up to Rs 30,000.
• Going by the current market rates, a premium up to Rs 30,000 could buy health insurance sum insured around Rs 10 lakh/annum for a family of four members, depending upon various factors such as type of coverage, age of insured, and so on.
• A reduction in the tax rate could lead to a lowering of premium rates or offering additional health cover options, depending on the requirements of people,
• After the GST rollout, a person must pay 18% GST when she buys a health insurance policy.
• This was an increase of 3% compared to the Service Tax of 15% including applicable cess in the previous regime.
• Under the income tax regime, the deduction for health insurance premiums under section 80D is limited to Rs 25000 or Rs. 50,000 per applicable conditions.

20 firms shortlisted under new EV subsidy scheme

• The Centre has given certification to over 20 vehicle OEMs to take part in the short-term e-mobility promotion scheme EMPS.
• According to sources, these 20 companies, including all the major two and three-wheeler manufacturers, can now avail of incentives under the scheme.
• The process for granting EMPS certificates has been completed.
• The scheme is now expected to fully pick up pace and support EV adoption in the country
• The EMPS, which is valid for only four months (April–July 2024) with an outlay of Rs 500 crore, aims to subsidise electric two-wheeler, three-wheeler, and e-rickshaw purchases by consumers.
• It may be replaced or extended once a new central government is formed in June.
• The new scheme aims to support the adoption of over 3,30,000 e-two-wheelers, over 40,000 smaller e-three-wheelers (e-rickshaws or e-carts), and over 25,000 large e-three-wheelers (L5 category).
• As such, the maximum incentive per electric two-wheeler has been capped at Rs 10,000, for e-rickshaws or e-carts at Rs 25,000, and for L5 vehicles, it has been kept at Rs 50,000 per vehicle.

CURRENT AFFAIRS: BUSINESS NEWS

BSNL should temporarily use Vodafone Idea’s 4G network for its subscribers

• BSNL Employees Union, wrote to the Minister of Communication, suggesting that the public sector telco must be allowed to use Vodafone Idea’s 4G network temporarily to provide its own 4G services.
• These statements come after BSNL’s 4G network rollout with Tata Consultancy Services as the network vendor became inordinately delayed.
• BSNL lost 18 million subscribers in the financial year 2024 ending in March, where 2.3 million subscribers left in March alone.
• The employees asked the government to consider allowing BSNL to use Vodafone Idea’s 4G network, especially as it is the largest shareholder in the operator.

Mahindra, Tata Motors receive record patent approvals in FY24

• Domestic automobile majors Mahindra & Mahindra and Tata Motors have received a record number of patent approvals for a wide spectrum of product and process innovations in the last financial year.
• Mahindra & Mahindra (M&M) received 674 approvals, its best-ever annual performance, while Tata Motors also witnessed the grant of 333 patents during the 2023-24 financial year.
• The auto major has so far been conferred 1,185 patents across multiple geographies.
• As of March 31, 2024, the company has 193 applications awaiting patent approval.
• Cumulatively, it has filed 2,212 patent applications to date.
• M&M's patents cover a range of functions, such as powertrain (ICE & EV), vehicle mechanical systems, electronics, manufacturing processes, electric tractors, and advanced engineering, among others.
• M&M has received a record 674 patents in 2023-24, with the majority coming in from the Indian Patent office.
• Tata Motors also received its highest-ever grant of 333 patents during the last fiscal, taking its total tally of granted patents to over 850.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Raymond Reappoints Gautam Hari Singhania as Managing Director for Another 5 -Year Term                    

• Raymond's board of directors approved the reappointment of Gautam Hari Singhania as Managing Director for another 5 years, starting July 1, 2024.
• Singhania took over the reins of Raymond Limited as chairman and managing director in September 2000.
• Nawaz Modi-Singhania, Gautam Hari Singhania's estranged wife, was removed from the boards of three privately held companies within the Raymond Group:

1. JK Investors (Bombay) Limited (JKI).
2. Raymond Consumer Care Limited (RCCL).
3. Smart Advisory and Finserve.

About Raymond Limited :

• Founded : 1925
• Headquarters : Mumbai, Maharashtra, India
• Raymond Ltd is the largest integrated manufacturer of fabric in the world.

Sanjaya Kumar Mishra Appointed as Head of GST Appellate Tribunal                         

• The Appointment Committee of Cabinet (ACC) has approved the appointment of Sanjaya Kumar Mishra, former Chief Justice of Jharkhand High Court, as the President of the Goods and Services Tax Appellate Tribunal (GSTAT) for a 4-year term.
• This decision comes following the recommendations put forth by a Search-Cum-Selection Committee, aiming to expedite the operationalisation of the GSTAT.
• In February,2024 the Department of Revenue invited applications for appointments to the posts of the 63 posts of judicial members and 32 posts for the technical Members (Centre) in Principal Bench of the GSTAT.
• The eligibility criteria was being a judge of the High Court, or serving a retired District Judge or Additional District Judge with 10 years of combined experience, or Lawyer with 10 years of experience with substantial experience in litigation in matters relating to indirect taxes.

About Sanjaya Kumar Mishra :

• Mishra, 62, is from Odisha and served as a judge in the Uttarakhand High Court and hails from Odisha.
• He has held positions like District & Sessions Judge in Sundergarh and Dhenkanal, and Special Judge (CBI) in Bhubaneswar.
• He was also the Registrar General of the Orissa High Court.
• In February 2023, he became the 14th Chief Justice of the Jharkhand High Court.

About GSTAT :

• GSTAT is established by the Government of India to resolve disputes in the business sector related to Goods and Services Tax (GST).
• It is the forum for second appeal in GST laws and acts as the first common dispute resolution platform between the Centre and States.
• The CGST Act empowers the Central Government to constitute, on the recommendation of the GST Council, an Appellate Tribunal known as the GST Appellate Tribunal.
• GSTAT is scheduled to start operations on 1st July 2024.
• Structure and Location of GSTAT:GSTAT will have a Principal Bench in Delhi and 31 State benches across India.
• Uttar Pradesh will have three benches, the most in any state, while Gujarat, Karnataka, Rajasthan, Tamil Nadu, and Maharashtra will each have two benches.
• Role and Significance of GSTAT:The GSTAT plays a crucial role in handling GST-related disputes, providing a specialized mechanism for timely resolution.
• It is expected to expedite the resolution process and reduce the backlog of GST-related cases.
• Structure of the GST Appellate Tribunal : The principal bench and state boards would have two technical and two judicial members each, with equal representation from the Centre and states.
• Age Limits for Tribunal Members:The maximum age for the President of the tribunal is 70 years.
• The age limit for Judicial Members and state Presidents is 65 years.
• Technical Members, whether from the Centre or state, also have a maximum age limit of 65 years.
• Filing Fees and Requirements for Appeals:There is a fee for filing an appeal with the GST Appellate Tribunal.
• Applicants must pay the full amount from the original order, including tax, fine, interest, and penalty.
• In cases of dispute, the applicant must pay at least 20% of the amount in question as the GST appeal fee.

Subodh Kumar (IAS) Appointed as Director in Ministry of Ayush               

• Subodh Kumar (IAS) has been appointed as Director in the Ministry of Ayush.
• The order was issued by the Department of Personnel and Training (DoPT).
• The tenure will continue until October 8, 2024, or until further orders, whichever is earlier.
• He is a 2010-batch Indian Administrative Service (IAS) officer from the Tamil Nadu cadre.
• Prior to this appointment, he was on 'Compulsory wait' in the Ministry of Food Processing Industries.

About Ministry of Ayush :

• Cabinet Minister : Sarbananda Sonowal
• Minister of State : Mahendra Munjapara
• Secretary : Rajesh Kotecha

RBI Approves Appointment of Sanjeev Nautiyal as Managing Director of Ujjivan Small Finance Bank              

• The Reserve Bank of India (RBI) approved the appointment of Sanjeev Nautiyal as Managing Director (MD) and Chief Executive Officer (CEO) of Ujjivan Small Finance Bank.
• His term will be for three years, effective from 1 July 2024.
• Before taking charge as MD and CEO, Sanjeev Nautiyal will join the bank as President during the interim period.
• He will succeed Ittira Davis, the current Managing Director and CEO of Ujjivan Small Finance Bank.
• Sanjeev Nautiyal currently is the independent director of Life Insurance Corporation (LIC) and acts as an advisory in various organizations.

Recent News :

• Ujjivan Small Finance Bank appointed Carol Furtado as executive director for a 3-year term, effective from May 1, 2024.

About Ujjivan Small Finance Bank Limited :

• Founded : 1 February 2017
• Headquarters : Bangalore, Karnataka, India
• Part time Chairman : Banavar Anantharamaiah Prabhakar
• Tagline : Building A Better Life
• Ujjivan Financial Services holds an 80% stake in Ujjivan SFB.
• The bank is licensed under Section 22(1) of the Banking Regulation Act, 1949, to conduct small finance bank business.
• It obtained Scheduled Bank status from the RBI in August 2017.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

China Launches Chang'e-6, the World's 1st Mission to Collect Moon Samples                                      

• China launched the Chang'e-6 lunar probe atop the Long March-5 Y8 carrier rocket from the Wenchang Spacecraft Launch Site in Hainan Province, China.
• Objective:The mission aims to collect samples from the far side of the moon, making it the first of its kind in human history.
• It is part of China's ambitious space program, which plans to send a crewed lunar mission by 2030
• The Chang'e-6 mission will land in South Pole-Aitken Bason on the far side of the moon.

About Chang'e-6 mission :

• The mission, dubbed Chang’e, is named after the mythical Chinese moon goddess.
• This mission will last 53 days.
• Chang'e-4 mission was the first to visit the far side of the moon in 2019.
• It included a rover to explore the moon's Von Karman crater.
• The mission is tasked with collecting and returning samples from the moon's mysterious far side for research purposes.
• This is the first endeavor of its kind in the history of human lunar exploration.
• The Chang’e-6 mission will carry a number of international payloads to the Moon, including the European Space Agency's lunar surface ion analyzer, France's radon detection instrument, Italy's laser corner reflector, and a CubeSat from Pakistan.
• Pakistan launched its first satellite mission to the moon, iCube Qamar, on board China's Chang'E6 from Hainan, China. T
• The satellite has been designed and developed by the Institute of Space Technology (IST) in collaboration with China's Shanghai University and Pakistan's national space agency SUPARCO.
• The primary purpose of CubeSats is to facilitate scientific research, technology development, and educational initiatives in space exploration.

Note :

• In 2023, India became the first country to land near the little-explored lunar south pole region when its Chandrayaan-3's lander, carrying the Pragyaan rover successfully landed there.

About China :

• President : Xi Jinping
• Capital : Beijing
• Currency : Renminbi

CURRENT AFFAIRS: MOUS AND AGREEMENT

India-UK logistic exchange agreement fosters historic visit of UK Royal Navy vessels to Chennai

• The UK’s maritime prowess took centre stage as the Littoral Response Group (LRG) made its inaugural stop in Chennai on March 26, 2024, marking the commencement of its deployment to the Indian Pacific region.
• Comprising the Royal Fleet Auxiliary (RFA) Argus and RFA Lyme Bay, the LRG engaged in maritime exercises with the Indian Navy upon entering the Arabian Sea.
• The vessels underwent essential maintenance at the Larsen & Toubro shipyard in Kattupalli near Chennai.
• Notably, this marks the first instance of a Royal Navy vessel undergoing maintenance at an Indian shipyard, an outcome of the logistics-sharing agreement inked between the UK and India in 2022.
• Brigadier Nick Sawyer, Defence Advisor at the British High Commission, underscored the significance of the LRG’s visit, affirming the UK’s commitment and capability in the Indo-Pacific region.

What is LRG?

• According to Brig Sawyer, this is a multi-functional amphibious task force, equipped to undertake a wide spectrum of activity in the littoral environment.
• This taskforce consists of the ships RFA Argus and RFA Lyme Bay, and there are forces on board centred on a Royal Marines strike force.

CURRENT AFFAIRS: SPORTS NEWS

Iga Swiatek Beats Aryna Sabalenka to Win Madrid Open

• World number one Iga Swiatek edged Aryna Sabalenka 7-5, 4-6, 7-6(7) in a gripping and gruelling Madrid Open final to win the title for the first time
• Top-ranked Iga Swiatek came through “the most intense and crazy final” she has ever contested to avenge her loss to Aryna Sabalenka in last year’s Madrid final with a gruelling three-hour 11-minute victory in the Spanish capital.
• Coming back from 1-3 down in the decider and saving three match points in total, Swiatek claimed a 7-5, 4-6, 7-6 (9/7) victory to secure the Madrid Open trophy for the first time.
• Swiatek, who picked up the 20th title of her career, and ninth at the WTA 1000 level, has now won her last eight consecutive finals and joins Elena Rybakina with a tour-leading 30 victories this season.
• The 22-year-old Pole confessed she felt tight in the first two hours of the contest but drew inspiration from Rafael Nadal, and his ability to step up mentally when it mattered the most.

Max Verstappen Takes Pole For Miami GP After Sprint Race Win

• Red Bull's Max Verstappen continued his domination of Formula One, taking pole position for Miami Grand Prix after clinching the sprint race earlier.
• The reigning world champion and championship leader, who has won four out of five Grand Prix races this season, secured his seventh straight pole position with another dominant drive.
• Ferrari's Charles Leclerc, whose fastest lap was 0.141 seconds behind Verstappen, will start second with his teammate Carlos Sainz in third place and Verstappen's Red Bull partner Sergio Perez fourth.
• Earlier, Verstappen cruised to victory in the sprint race, finishing 3.3 seconds ahead of Leclerc.
• The Dutchman led from pole and was never challenged after a chaotic opening lap.
• Verstappen's teammate Perez was third as the world champions gave themselves a points boost.

CURRENT AFFAIRS : OBITUARIES

Titanic' and 'Lord of the Rings' Actor Bernard Hill Passed away

• Bernard Hill, actor known for his roles in "The Lord of the Rings" and "Titanic," passed away at the age of 79.

About Bernard Hill :

• Hill was born in Blackley, Manchester, England.
• Key Film Roles:
  • Hill portrayed Théoden, King of Rohan, in "The Lord of the Rings" film trilogy.
  • He played Captain Edward Smith, the captain of the Titanic, in the 1997 film "Titanic."
  • He also played Luther Plunkitt, Warden of San Quentin Prison, in Clint Eastwood's film "True Crime."
• Television Roles:
  • Hill starred as Yosser Hughes in Alan Bleasdale's "Boys from the Blackstuff," a notable 1980s television drama.
  • He also played the Duke of Norfolk in the BBC adaptation of Hilary Mantel's "Wolf Hall."
• Joining "The Lord of the Rings" Franchise:
  • Hill joined "The Lord of the Rings" in the second film, "The Two Towers" (2002), as Théoden.
  • He continued this role in "The Return of the King," the final instalment of the trilogy.
• Notable Achievements:
  • Hill's performance as Yosser Hughes in "Boys from the Blackstuff" earned him a nomination for a British Academy of Film and Television Arts (BAFTA) award in 1983.
  • The series won the BAFTA for Best Drama Series.
  • The film "Titanic," in which he played Captain Edward Smith, won 11 Academy Awards.

CURRENT AFFAIRS: IMPORTANT DAYS

World Asthma Day 2024 - May 7

• Every year World Asthma Day is celebrated on the First Tuesday of May.
• This year, World Asthma Day was celebrated on May 7.
• In celebration of World Asthma Day 2024, the Global Initiative for Asthma (GINA) has selected the theme of “Asthma Education Empowers”.
• This day is celebrated to raise awareness among people about Asthma.
• The Global Initiative for Asthma (GINA) was established in 1993.
• The first World Asthma Day was observed in the year 1998.
• Organised by GINA, World Asthma Day is observed to spread awareness about the challenges faced by people suffering from Asthma.
• The day aims to bring together doctors, patients and organisations to work together in empowering people with Asthma and providing them with a better life.

Daily CA One- Liner: May 7

• To make health insurance more affordable and attractive, the Centre may push for a lower GST tax rate to 12%, compared to 18% now, on health insurance premiums up to Rs 30,000.
• The Centre has given certification to over 20 vehicle OEMs to take part in the short-term e-mobility promotion scheme EMPS.
• BSNL Employees Union, wrote to the Minister of Communication, suggesting that the public sector telco must be allowed to use Vodafone Idea’s 4G network temporarily to provide its own 4G services.
• Domestic automobile majors Mahindra & Mahindra and Tata Motors have received a record number of patent approvals for a wide spectrum of product and process innovations in the last financial year.
• The UK’s maritime prowess took centre stage as the Littoral Response Group (LRG) made its inaugural stop in Chennai on March 26, 2024, marking the commencement of its deployment to the Indian Pacific region
• World number one Iga Swiatek edged Aryna Sabalenka 7-5, 4-6, 7-6(7) in a gripping and gruelling Madrid Open final to win the title for the first time
• Red Bull's Max Verstappen continued his domination of Formula One, taking pole position for Miami Grand Prix after clinching the sprint race earlier.
• The central government is likely to receive a dividend of Rs 75,000-85,000 crore from the Reserve Bank of India (RBI) in the current financial year.
• Jammu and Kashmir (J&K) Bank reported a record net profit of Rs 1,767 crore for the fiscal year 2023-24.
• The Securities and Exchange Board of India (SEBI) has made it compulsory for Portfolio Management Services (PMS) providers to register with the Association of Portfolio Managers in India (APMI).
• The Reserve Bank of India (RBI) reported that the market share of the top four credit card issuers in India declined during FY24 in terms of monthly card spends and total cards outstanding.
• The Reserve Bank of India’s Innovation Hub (RBIH) subsidiary collaborated with mysaltapp and the FICCI Ladies Organisation to release a white paper titled "At The Helm: Women Entrepreneurs Transforming Middle India."
• Raymond's board of directors approved the reappointment of Gautam Hari Singhania as Managing Director for another 5 years, starting July 1, 2024.
• The Appointment Committee of Cabinet (ACC) has approved the appointment of Sanjaya Kumar Mishra, former Chief Justice of Jharkhand High Court, as the President of the Goods and Services Tax Appellate Tribunal (GSTAT) for a 4-year term.
• Subodh Kumar (IAS) has been appointed as Director in the Ministry of Ayush.
• The Reserve Bank of India (RBI) approved the appointment of Sanjeev Nautiyal as Managing Director (MD) and Chief Executive Officer (CEO) of Ujjivan Small Finance Bank.
• China launched the Chang'e-6 lunar probe atop the Long March-5 Y8 carrier rocket from the Wenchang Spacecraft Launch Site in Hainan Province, China.
• Bernard Hill, actor known for his roles in "The Lord of the Rings" and "Titanic," passed away at the age of 79.
• Every year World Asthma Day is celebrated on the First Tuesday of May