It is, but the notch itself is about 45mm deep, the plasterboard in front of it had cracked to so I am assuming there must have been a bit of movement?
If the notch (45 mm deep?) was near the centre of the span, it would have seriously weakened the beam because usually the
bending stress is greatest in the middle, so that's where you need the most material.
The bending stress reduces as you go towards the end, where technically it becomes zero.
But physics doesn't make it easy for us because at the middle of the beam, the
shear stress is theoretically zero, but does the opposite of bending stress and increases as you go towards the end of the beam, where it becomes maximum.
But without getting pencil and paper out, I'd say that there's enough depth of beam remaining at your notch to easily accommodate the shear stress.
The only caveat to this is if it is heavily-loaded near the end, such as supporting a bath or h/w tank. If that's the case, you could reinforce it by screwing a length of timber, plywood or steel to the side of the joist at the end, as others have suggested.