Morning Brief: Rs 500 And Rs 1,000 Notes Scrapped; Americans Set To Elect New President; India Recalls Diplomats

Swarajya Staff

Nov 09, 2016, 07:22 AM | Updated 07:22 AM IST

The Rs 500 and Rs 1,000 notes withdrawn from circulation. 
The Rs 500 and Rs 1,000 notes withdrawn from circulation. 

Good Morning, Swarajya Readers! Here's What You Need To Know Today.

Rs 500 And Rs 1,000 Notes Invalid: Prime Minister Narendra Modi announced demonetisation of Rs 500 and 1,000 currency notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.

RBI To Introduce New Notes From Tomorrow: The Reserve Bank of India (RBI) will introduce new currency notes of Rs 500 while Rs 2,000 notes will also be issued by the bank. Governor Urjit Patel and secretary of the Department of Economic Affairs Shaktikanta Das said that RBI will release new currency notes with fresh features, designs and dimensions from 10 November onwards.

Mad Rush At ATMs Across India: There was mad rush at ATMs and petrol pumps at cities across the country as anxious people rushed to get Rs 100 denomination notes and get rid of their Rs 500 and Rs 1,000 rupee bills soon after Prime Minister Narendra Modi's address to the nation, announcing demonetisation of the currency notes with effect from midnight.

Here’s What You Can Do With Rs 500 And Rs 1000 Notes: Waging a war on black money, the Narendra Modi government has pulled out Rs 500 and Rs 1,000 currency notes from circulation, effective midnight of 8 November 2016. Here’s what you can do with your banned notes.

Americans Set To Elect New President: US citizens streamed to the polls under clear skies in much of the country on Tuesday to bring the presidential election between Hillary Clinton and Donald Trump to a close — and to signal whether they want to preserve the US political establishment or blow it up.

New India Push To Put Masood Azhar On UN Sanctions List: India will take up with China the issue of backing New Delhi’s move for placing Jaish-e-Mohammad chief Masood Azhar on the UN sanctions list against individuals and groups linked to terror groups Al Qaeda or Islamic State and check illegal supply of arms to insurgents in the northeast.

Jawan Martyred In Pakistani Shelling: One jawan was martyred in Naushera Sector on Tuesday in Pakistani firing in the civilian areas along the Line of Control. The Army said it has struck back and inflicted heavy damage to Pakistani Army posts. The exchange of fire is still under way.

Come Clean On Triple Talaq, Amit Shah Tells Rival Parties: Bharatiya Janata Party president Amit Shah on Tuesday asked the party’s three electoral rivals to clarify their stand on the triple talaq issue. Shah said the party would contest the Uttar Pradesh assembly polls on the twin planks of women’s rights and development.

India Recalls Three Diplomats From Pakistan: Three of India’s diplomats left Islamabad yesterday following charges of “spying” by Pakistan. India recalled diplomats - Anurag Singh, Vijay Kumar Verma and Madhavan Nanda Kumar - stationed at its High Commission in Islamabad.

Supreme Court Adjourns NDTV India Ban Plea: The Supreme Court stepped back from hearing a petition challenging a day’s ban on NDTV India in view of the government decision to review it. The court adjourned the hearing of the plea to December 5.


86 Per Cent Of Indian Currency Void: Masterstroke Or Big Blunder? This decision could be to hasten a move towards a less-cash society which many argue will only benefit the economy. This is true not just for India but across the globe.

Towards A New Fiscal Policy Framework: The quest for a new fiscal law is absolutely fine as long as it does not become an excuse for abandoning fiscal discipline. It should be the centrepiece of a new fiscal policy framework rather than just an argument for flexible fiscal policy.

Trade Policy Hurdles Await New US Leader: The US seems caught in a dysfunctional political equilibrium but powerful lobby groups can block things because of ideological rigidity and plutocratic interests.

Politics Still Threatens The Creation Of ‘One Market, One Tax’: The GST rollout will inevitably be accompanied by sundry glitches and unanticipated complications that require adjustments. All future adjustments should be transparent and inclusive.

Post Brexit, India Should Recognise Both Necessities And Opportunities Opened By UK: Sometimes we need to find a new spark to revive our relationship. One hopes some of us can encourage those new sparks and unlock the full potential of this special partnership.


NDA Demonetises Rs 500 And Rs 1,000: Modi’s Surgical Strike Against Black Money Stuns All: It sends the right message of seriousness on black money, something the Modi government has been doing consistently.

SC Should Not Draw False Equivalence Between Haji Ali And Sabarimala Issues: As for the Supreme Court taking a position on gender justice using Sabarimala as scapegoat, it must ask itself a simple question: how has it implemented gender justice in its own backyard?

NDTV Suspension Issue Exposes Media: Crying Wolf, And The Wrong Wolf At That: If the media cannot differentiate between a ham-handed attempt to discipline reportage during times of terrorist crises and a wholesale clampdown on newspapers and dissent in Indira Gandhi’s “internal emergency” of 1975, it is not worthy of being called the fourth estate, and a guardian of free speech.

Kisan Credit Card Programme: Expanded Access To Credit Or Expansion Of Credit? Kisan Credit Card programme - a key reform in agricultural lending in India - has been operational for almost 20 years now. This column finds that the programme has had significant positive impact on agricultural production and technology adoption.

We hope you enjoyed reading our morning brief. Have a great day ahead!

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