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Prashant Pise Appointed India’s New Ambassador to Oman

May 13, 2026

OVERVIEW

India has appointed senior diplomat Prashant Pise as the new Ambassador to Oman. He is an Indian Foreign Service (IFS) officer from the 1995 batch. Currently, he serves as Additional Secretary in the Ministry of External Affairs. He will replace Godavarthi Venkata Srinivas, who is a 1993 batch IFS officer. Pise has served in Cairo, Tripoli, and handled Russia, CIS, and Central Asia affairs. His new role is important because Oman is a key partner for India in the Gulf region.

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Kevin Warsh Confirmed as Fed Governor-Set to Replace Jerome Powell as Chair

May 13, 2026

OVERVIEW

The US Senate has appointed Kevin Warsh as a Governor of the Federal Reserve. He is now set to become the next Chair of America’s central bank. The Senate voted 51–45 to confirm him for a 14-year term on the Fed’s Board of Governors. If he is confirmed as Chair, he will replace Jerome Powell. This change is happening at a time when the US economy is facing rising inflation and political pressure on monetary policy. The Federal Reserve’s decisions affect interest rates, inflation, and financial markets all over the world.

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Supreme Court Sets Up Panel to Modernise Court Infrastructure Across India

May 13, 2026

OVERVIEW

Chief Justice of India Surya Kant has taken a big step to improve court buildings and facilities across the country. He formed the Judicial Infrastructure Advisory Committee. This committee will make a national plan to modernise all courts. Many district courts today have old buildings, crowded rooms, poor digital systems, and not enough space. The new committee is headed by Supreme Court Judge Justice Aravind Kumar. It includes judges from three High Courts and senior government officials. The panel will suggest better courtrooms, digital tools, and facilities for lawyers and citizens.

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Public Sector Banks Make Record Rs1.98 Lakh Crore Profit – Fourth Year in a Row

May 13, 2026

OVERVIEW

India’s public sector banks (PSBs) have done very well. In the financial year 2025–26, they made a combined net profit of ?1.98 lakh crore. This is the fourth consecutive year of profit. The Union Finance Ministry announced this historic performance. The banks’ operating profit reached ?3.21 lakh crore. Net profit grew by 11.1% compared to last year. The main reasons are better asset quality, strong credit growth, and higher income. Bad loans are now at very low levels. This shows a complete turnaround for government-owned banks.

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R. Mukundan Takes Over as CII President for 2026–27 Succeeds Rajiv Memani

May 13, 2026

OVERVIEW

R. Mukundan has become the new President of the Confederation of Indian Industry (CII) for the term 2026–27. He is the CEO and Managing Director of Tata Chemicals. He has more than 30 years of experience in the Tata Group. He replaces Rajiv Memani, who completed his term. Mukundan was already the President-Designate for 2025–26, so this change was planned. The industry body also named Suchitra K. Ella (Bharat Biotech MD) as President-Designate for 2026–27, and Shashwat Goenka as Vice-President. CII is one of India’s most influential business organisations.

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