RBI decides to withdraw ₹2,000 note from circulation
The RBI, on May 19, decided to withdraw ₹2,000 note from circulation, however, the banknotes will continue to be a legal tender. The RBI added that members of the public may deposit ₹2000 banknotes 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. Exchange facility for the ₹2,000 notes up to ₹20,000 at a time would be available from May 23, 2023, and will continue till September 30, the central bank said. The RBI has advised banks to stop issuing ₹2000 denomination banknotes with immediate effect.
SEBI probe into Adani drew a blank: Supreme Court-appointed panel
A six-member expert committee — constituted by the Supreme Court in the Hindenburg-Adani allegations case and headed by former Supreme Court judge, Justice A.M. Sapre — said that the Securities Exchange Board of India (SEBI) has “drawn a blank” and is in a “chicken-and-egg situation” in its investigation into the “ownership” of 13 overseas entities, including 12 Foreign Portfolio Investors (FPIs). The 173-page report said, “SEBI has found 42 contributories to the assets under management of the 13 overseas entities. Various avenues have been pursued - including ED, CBDT and various market regulators in the seven jurisdictions where the contributories are situated. SEBI has drawn a blank”.
Supreme Court defers scientific survey to determine age of ‘shivling’ found at Gyanvapi mosque
The Supreme Court on May 19 deferred the implementation of a direction given by the Allahabad High Court on May 12 to conduct carbon dating and scientific survey of the “shivling” allegedly found in the Gyanvapi mosque premises in Varanasi. A three-judge Bench headed by Chief Justice of India DY Chandrachud said the “implications of the May 12 order would require closer scrutiny”. The carbon dating and scientific survey of the disputed structure was supposed to be held on May 22. The apex court ordered the exercise to be put on hold till the next date of hearing before it.
Siddaramaiah, Shivakumar in Delhi to discuss Karnataka Cabinet formation, allocation of portfolios
Karnataka Chief Minister-designate Siddaramaiah and his deputy D.K. Shivakumar arrived in New Delhi on May 19 to discuss with the party’s high command the names of Ministers to be inducted into the new Cabinet and the allocation of portfolios. They will also invite the party’s top brass for the swearing-in ceremony on May 20. A meeting of the Congress Legislature Party (CLP) on May 18 formally elected Mr. Siddaramaiah as its leader, following which he staked claim with the Governor, who invited him to form the government.
India fully prepared, committed to protecting its sovereignty, dignity: PM Modi
Amid the India-China standoff in eastern Ladakh, Prime Minister Narendra Modi on May 19 said India is fully prepared and committed to protecting its sovereignty and dignity, and emphasised that peace and tranquility on the border are essential for normal bilateral ties among the neighbours. In an interview with Japanese publication Nikkei Asia, Mr. Modi said, “the future development of the India-China relationship can only be based on mutual respect, mutual sensitivity and mutual interests”, and noted that “normalising” the ties would benefit the wider region and the world.
Supreme Court gets two new judges
Chief Justice of India D.Y. Chandrachud on May 19 administered the oath of office to Justices Prashant Kumar Mishra and K.V. Viswanathan, bringing back the court to its full sanctioned strength of 34 judges. Justices Mishra and Viswanathan would replace Justices Dinesh Maheshwari and M.R. Shah, both of whom had retired earlier in May.
Sameer Wankhede moves Bombay High Court to seek quashing of CBI FIR against him
Former Narcotics Control Bureau zonal director Sameer Wankhede on May 19 moved a petition before the Bombay High Court seeking quashing of an FIR filed against him by the CBI for allegedly demanding ₹25 crore bribe from superstar Shah Rukh Khan for not implicating his son Aryan Khan in the Cordelia cruise drug bust case. In the petition moved before a vacation bench of the high court, Wankhede also sought that no coercive action related to the CBI’s FIR be taken against him.
WFI chief to hold rally in Ayodhya on June 5 amid wrestlers protest
Wrestling Federation of India chief Brij Bhushan Sharan Singh is organising a “Jan Chetna Maha Rally” in Ayodhya’s Ramkatha Park, on June 5. Mr. Singh was recently accused of sexually harassing women wrestlers and is facing two FIRs including one under the POCSO Act. He has invited supporters and well-wishers from all over the country to attend the mega rally and claims that the gathering is planned on the appeal of saints. “On the appeal of highly respected saints of the country, I welcome my supporters and well-wishers from all over the country on June 5, 2023 in Ayodhya chalo, Jan chetna maharally,” he said.
China’s Xi meets Central Asian leaders; calls for trade, energy development
Chinese leader Xi Jinping promised to build more railway and other trade links with Central Asia and proposed jointly developing oil and gas sources at a meeting on May 19 with the region’s leaders that highlighted Beijing’s growing influence. The two-day China-Central Asia Summit in the western city of Xi’an came as President Joe Biden and other leaders of the Group of Seven major economies met in Japan. It reflected Beijing’s efforts to develop trade and security centred on China, which resents U.S. domination of global affairs.
Pakistan anti-terrorism court grants pre-arrest bail to Imran Khan
An anti-terrorism court in Lahore on May 19 approved pre-arrest bail for Imran Khan in three cases filed against Pakistan’s former Prime Minister after his arrest on May 9. While granting him bail till June 2, the Lahore anti-terrorism court also directed the 70-year-old Pakistan Tehreek-e-Insaf chief to become a part of the investigation. One of the cases registered against Khan pertains to the attack on Corps Commander House in Lahore.
G7 agrees new sanctions to ‘starve Russia’s war machine’
Leaders from the Group of Seven nations agreed new sanctions on May 19 that they said would “starve Russia of G7 technology, industrial equipment and services that support its war machine”. The move comes after the United States, Britain and the European Union all announced fresh efforts to turn the screws on Moscow, 15 months into Vladimir Putin’s full-scale invasion of Ukraine. The bloc, meeting in the Japanese city of Hiroshima, said that they would move to further restrict Russia’s access to G7 economies.
RBI approves ₹87,416 crore dividend payout to central government for 2022-23
The Reserve Bank on May 19 approved ₹87,416 crore dividend payout to the central government for 2022-23, nearly triple of what it paid in the previous year. The dividend payout was ₹30,307 crore for accounting year 2021-22. The decision was taken at the 602nd meeting of the Central Board of Directors of Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das. “The board approved the transfer of ₹87,416 crore as surplus to the central government for accounting year 2022-23, while deciding to keep the Contingency Risk Buffer at 6%,” RBI said in a statement.
IPL 2023: DC vs CSK | Chennai aims at qualification, Delhi looks to end season on a high
A determined Chennai Super Kings unit wouldn’t mind being masters of its own fate in its bid to steamroll the already ousted Delhi Capitals, who are looking to end a forgettable IPL campaign on a high in a final league game, in New Delhi on May 20. At the moment, CSK are on second on the points table with 15 points from 13 games. But a loss against DC along with a string of unfavourable results could see the four-time champions miss out on the last leg of IPL action. A win would, however, confirm a play-off spot but whether they finish in second place or third would depend on the Lucknow Super Giants’ result against Kolkata Knight Riders later in the day.
