Morning Current Affairs: 8 November 2017
The Union Government’s decision of demonetising the currency notes of Rs 500 and Rs 1000 completed one year today. Exactly one year ago, Prime Minister Narendra Modi had declared the use of all 500 and 1000 banknotes of the Mahatma Gandhi Series as invalid past midnight.
Demonetisation of Rs 500 & Rs 1000 notes completes one year
The Union Government’s decision of demonetising the currency notes of Rs 500 and Rs 1000 completed one year on 8 November 2017.
Exactly one year ago, Prime Minister Narendra Modi had declared the use of all 500 and 1000 banknotes of the Mahatma Gandhi Series as invalid past midnight and announced the issuance of new Rs 500 and Rs 2000 bank notes of the Mahatma Gandhi New Series in exchange for the old banknotes.
According to the Government, the measure has succeeded in curtailing the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism.
India signs loan agreement worth 119 million dollars with World Bank
India on 7 November 2017 signed a loan agreement worth US$ 119 million with the World Bank for the ‘Odisha higher education programme for excellence and equity project’.
The main objective of the deal is to improve the quality of students’ equitable access to selected institutions and enhance governance of the higher education system in Odisha.
Coal India’s new app ‘Grahak Sadak Koyla Vitaran’ launched
The Union Minister of Railways and Coal, Piyush Goyal, launched ‘Grahak Sadak Koyla Vitaran App’ with the aim of benefitting customers of Coal India Limited (CIL) lifting coal through road mode.
The app, which was launched during Coal India’s Foundation day, aims to achieve transparency in dispatch operations. Its other benefits include easy accessibility of the information, helpful in logistics planning for lifting of coal in tune with the loading programmes and further, it helps in improved planning of procurement, production and stock management by the customers.
DRDO conducts successful test flight of sub-sonic cruise missile 'Nirbhay'
The Defence Research and Development Organisation (DRDO) on 7 November 2017 conducted a successful test flight of India’s first indigenously designed and developed Long Range Sub-Sonic Cruise Missile –Nirbhay.
The missile can be deployed from multiple platforms. It has the capability to cruise at altitudes as low as 100 m. The flight test achieved all the mission objectives completely from lift-off till the final splash. The missile was tracked with the help of ground based radars and other parameters were monitored by indigenous telemetry stations developed by DRDO.