Demonetisation anniversary

Demonetization is an act of withdrawing currency from status of legal tender.It implies that currency cannot be used for exchange of goods and services in that country.On November 8, 2016 union government announced to demonetize Rs.500 and Rs 1,000 banknotes.With this effort 86 percent of India’s currency was nullified.

Instances of Demonetization in India

There were two previous instances of demonetisation, one was in 1946 and other was in 1978, but the demonetization of 1978 did not have any significant effect on cash the way the current demonetization drive has done.

Positive Impact of Demonetisation

Financial Transparency- Major Part of black money (unaccounted money) to meet in accounted money (taxable income).Push towards digital society - Due to government focus on Digitalization future possibilities of corruption, money laundering etc. are decreasing which lead to decrease in black money.Financial Inclusion- Government will get more money due increase in tax base so there will be more money available to the government for welfare schemes for the poor people.Curbing Parallel economy- In India an economy based on black money is running parallel to our economy.Social awareness against black money- Post- demonetization people became aware of ill-effect of black money and its consequences.Will help to track black money- After demonetization people have to replace their old notes with new note from bank. They have to deposit their all money in to banks.Increase tax revenue- People have to disclose their income and number of people in taxable income will increase.Reduced illegal activities-Funding to terrorist, Maoist groups will decrease. Money laundering activities will also decrease.To remove fake currency from economy- People have to deposit their old currency in banks so that all legal money will come in banks and all remaining fake currency which is in market will be waste.

Negative Impact of Demonetisation

UnemploymentDecline of national GDPManufacturing and Infrastructure declineDecline of unorganised sector.

Topic- GS-3- Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

Source- Various News Papers

Guinea becomes new member of International Solar Alliance (ISA)

India welcomed ratification of the framework agreement on the ISA by Guinea.India also extended an invitation to Guinea to attend the summit level meeting of founder members of ISA in New Delhi.

International Solar Alliance-

The ISA was launched at the UN Conference of Parties (CoP) climate summit in Paris on November 30, 2015, by Prime Minister Modi and then French President Francois Hollande.In January 2016, Prime Minister Modi and French President Hollande laid the foundation stone for the headquarters of the International Solar Alliance (ISA) in Gwal Pahari, Gurugram.The ISA will focus on promoting and developing solar energy and solar products for countries lying wholly or partially between the Tropic of Cancer and the Tropic of Capricorn.It is open to all 121 prospective member countries falling between the Tropics of Cancer and Capricorn.

Topic- GS-2- Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests

Source- Business Standards

Musa paramjitiana banana species discovered in Andaman

The islands are a biodiversity hotspot that hosts seven different species of wild banana.Recently a new species which is named as Musa paramjitianafound in North Andaman’s Krishnapuri forest.The plant grows to a height of nine metres and bears an edible, sweet-and-sour tasting fruit that is boat-shaped and has numerous bulb-shaped seeds.It has been declared as ‘Critically Endangered’ by IUCN.In 2014, researchers discoveredMusa indandamanensis, another wild banana, in a remote tropical rain forest on the Little Andaman island.

IUCN (International Union for Conservation of Nature)-

The International Union for Conservation of Nature (IUCN) is an international organization working in the field of nature conservation and sustainable use of natural resources.The organization is best known to the wider public for compiling and publishing the IUCN Red List of Threatened Species.IUCN has observer and consultative status at the United Nations.Its headquarter is located in Gland, Switzerland.

Topic- GS-3- Biodiversity

Source- The Hindu

New ant species discovered in the Western Ghats

Researchers have discovered a new species of ant in the Western Ghats, recognised as one of the world’s ‘hottest hotspots’ of biological diversity.The new species was found in the Periyar Tiger Reserve.The species belongs to Tyrannomyrmex, a rare tropical genus of ants.This new species is named asTyrannomyrmex alii.

Topic- GS-3- Biodiversity

Source- The Hindu

 

Chennai gets UNESCO recognition for music

Chennai, often called as cultural capital of South India, included in Creative Cities Network (CCN) of UNESCO for its contributions to music.The city joins two other cities in India - Jaipur and Varanasi - to have figured in the prestigious list for their contributions to music and folk arts.CCN (Creative Cities Network) currently has 116-member cities from 54 countries, covering various fields.

Topic- GS-1- Indian Culture

Source- Deccan Chronicle

Manipur to host International Sangai festival

Manipur is to host the 10-day Sangai International Festival that will feature polo and a 21-km half marathon among other activities, with most countries confirming their participation.The event will be inaugurated by President Ram Nath Kovind.The festival will be host at the Loktak lake where the Keibul Lamjao national park, the natural habitat of the sangai, the brow-antlered deer is located.

Topic- GS-3- Environment

Source- Business Standards

Paris climate accord: Syria to sign up, isolating US

The US is set to become isolated in its stance on the Paris climate agreement, after Syria said it was preparing to join the deal.Syria and Nicaragua were the only nations outside the deal when it was agreed in 2015.Nicaragua signed in October 2017.

Topic- GS-3- International Relation

Source- AIR

India signs loan agreement with World Bank for 119 million dollars for OHEPEE project

India has signed a loan agreement of 119 million dollar with World Bank for the Odisha higher education programme for excellence and equity (OHEPEE) project.The objective of the project is to improve the quality of students' equitable access to selected institutions and enhance governance of the higher education system in Odisha.

Topic-GS-3- Economic Development
GS-2- Issues relating to development and management of Social Sector/Services relating to Health, Education, Human Resources.

Source- AIR + PIB

India successfully test fires indigenous sub-sonic cruise missile ‘Nirbhay’

India successfully conducted a flight test of its indigenously designed and developed long-range sub-sonic cruise missile ‘Nirbhay’, which can carry warheads of up to 300 kg.The missile is developed by the Defence Research and Development Organisation.The missile is capable of carrying 24 kinds of war weapons, the missile is able to target multiple places simultaneously.Nirbhay is very manoeuvrable and can fly at tree-top level, making it difficult to detect on radar, and strikes targets of 1,000 km away carrying nuclear warheads.

Topic- GS-3- Defence

Source- AIR

Birth anniversary of 'Nritya Samragini' Sitara Devi

November 8 is the birth anniversary of eminent Kathak dancer Sitara Devi.Born in 1920, Sitara Devi has been described as 'Nritya Samragini' by Rabindranath Tagore when she was 16 years old.She was born in Kolkata, but her family was originally from Varanasi.Sitara Devi blended the elements of two schools of Kathak -- one which was developed in Benaras and one from Lucknow.She performed across India and abroad, including prestigious venues like Royal Albert Hall, London (1967) and the Carnegie Hall, New York (1976).She received a number of awards including the Sangeet Natak Akademi Award in 1969 and the Padma Shree in 1973.

Topic- GS-1- Indian Culture

Source- DD News

Now, women in private sector can report harassment on government's 'SHe-Box'

Union minister Maneka Gandhi launched a portal to help women lodge complaints online about sexual harassment at work.The online complaint management system - 'SHe-box' (sexual harassment electronic box) - will be hosted on the website of the Ministry of Women and Child Development.The ministry had earlier launched a web page for government employees, which has now been extended to women in the private sector.The objective is to provide immediate relief to working women.Under the Sexual Harassment at Workplace Act, 2013, it is compulsory for any organisation with 10 or more employees to set up an internal complaints committee for addressing complaints of sexual harassment.

Topic- GS-1- Role of women and women’s organization, population and associated issues, their problems and their remedies.

GS-1- Social empowerment

Source- DD News