- National:
- RBL Bank formerly known as Ratnakar Bank has gone live with ‘Direct Tax Collections’ on behalf of the Government of India through the new Tax Information Network (TIN2.0) portal.
- From 1st August 2023, the e-invoicing is mandatory for businesses with an annual aggregate turnover of over Rs.5 crore in any previous financial year from 2017-181. This is a change from the previous threshold of Rs.10 crore
- India has achieved a major milestone under the Swachh Bharat Mission Gramin (SBM-G) with half of the total villages in the country i.e., 50% villages achieving ODF Plus status under phase II of the Mission
- The Securities and Exchange Board of India (SEBI) has allowed stock exchanges to extend the Direct Market Access (DMA) facility to Foreign Portfolio Investors (FPIs) for participation in Exchange Traded Commodity Derivatives (ETCDs).
- India has extended a US$1 billion credit line for Sri Lanka by one year. This credit line is part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka’s financial crisis last year
- Bank Clinic initiative by the All India Bank Employees’ Association (AIBEA),this is an online platform that will help bank customers with grievance redressal
- The Indian Space Research Organisation (ISRO) has begun testing semi-cryogenic engines at the newly commissioned Semicryogenic Integrated Engine & Stage Test facility in Tamil Nadu’s Mahendragiri. The test facility has been developed at the ISRO Propulsion Complex (IPRC)
- SpaceX successfully launched 51 Starlink internet satellites into orbit on May 10, 2023, from California’s Vandenberg Space Force Base. The Falcon 9 rocket carrying the satellites lifted off on schedule at 4:09 p.m. ET and the first stage of the rocket returned to Earth about 8.5 minutes later as planned
- Karnataka registered a voter turnout of 73.19% in the Assembly polls which election officials termed a record. The turnout is likely to rise further as votes polled through postal ballot and ‘Vote for Home’ (VFH) facility for elderly residents are yet to be counted
- The Indian Space Research Organisation (ISRO) has successfully carried out the first integrated test on an intermediate configuration of its 2000 kN semicryogenic engine at the newly commissioned Semicryogenic Integrated Engine & Stage Test facility at the ISRO Propulsion Complex (IPRC) in Mahendragiri
- According to a recent report by aviation analytical firm, Cirium, GMR Hyderabad International Airport recorded an impressive on-time performance (OTP) of 90.43% in the month of March 2023.
- Economy:
- FSDC meeting and its implications for India’s economic stability. According to the web sources, the Financial Stability and Development Council (FSDC) is the apex body of sectoral regulators, headed by the Union Finance Minister
- The government has made it mandatory for small firms with an annual turnover of ₹5 crore or more to issue e-invoices for business-to-business supplies from August 1, 2023 to check Goods and Services Tax (GST) evasion, reduce disputes over input-tax credit and make compliance easy
- The government has scrapped customs duty and agriculture infrastructure development cess on the import of crude soyabean oil and crude sunflower oil for 20 lakh metric tonnes each per year to ease local prices
- World
- The British government has announced that it sent long-range cruise missiles to Ukraine to help drive out Russia’s occupying forces. The missiles are called Storm Shadow and have a range of over 250km (155 miles)
- Title 42 is a coronavirus-related restriction on claiming asylum that has allowed the US to quickly expel migrants at US-Mexico border since 2020. It was due to expire at midnight on May 11th, 2023
- Sports:
- Sarabjot Singh and T.S. Divya beat the world champions Zorana Arunovic and Damir Mikec of Serbia by a narrow margin of 16-14 in the final round of the mixed air pistol event. They scored a total of 581 points in the qualification round and made it to the medal round
- Mohammad Hussamuddin (57kg), Deepak Bhoria (51kg) and Nishant Dev signed off with bronze medals at the World Championships on Friday. It is India’s best-ever show at the marquee event as they won three medals in Tashkent
- India’s women athletes won 17 medals for the country at the Wushu Stars Championship held in Moscow, Russia. The Indian girls bagged a total of 10 gold, 4 silver and 3 bronze medals in the junior girls, sub-junior girls and senior girls categories across Sanda (Fight) and Taolu
- Appointments:
- Rajiv Dhar is the Executive Director and Chief Operating Officer of NIIFL, who has been appointed as the Chief Executive Officer & Managing Director of NIIFL on an interim basis, effective May 11, 2023
- Wesley W. Simina was elected as the 10th president of the Federated States of Micronesia (FSM) during the first regular session of the 23rd FSM Congress on Thursday. Prior to his presidential election, Simina was the senator at-large for Chuuk State and also the speaker of the Congress
- Obituary:
- Antonio Carbajal, the Mexican goalkeeper who became the first player to appear in five World Cups, has passed away at the age of 93. He had been hospitalized in the north-central city of Leon for blood pressure problems and died at home
