Possessing Old Currency Notes After 31st March Would Be Punishable and 5 Other Updates

1. People having old currency after 31st March 2017 would be punished.

The Cabinet has approved the rule, through which the citizens with more than Rs 10,000 in the old currency of Rs 500 and Rs 1000 would be punished. One cannot have more than 10 notes (in whatever denomination) after the said date and the penalty of having them, could be a fine or a four-year jail term, or both. However, the deadline of depositing old notes in the bank is still 30 December.

2. Viral Acharya is the new RBI Deputy Governor.

Viral Acharya, a 42-year-old New York University economics professor, is the new RBI Deputy Governor. He has been assigned the position of Urjit Patel, who is now on the position of RBI Governor. Acharya once called himself ‘poor man’s Raghuram Rajan’ and has been appointed for a three-year tenure.

3. After the Government lifts a three-month ban on Kashmir Reader, it is finally back on the stands.

Kashmir Reader is finally back on the stands after a three-month long ban that was imposed by the state government on 2nd October. The Government called their movement on the basis of the newspaper being a threat to “public tranquillity” and tends to incite violence and disturbance among the public of Kashmir.

4. Fake CBI officials looted 40 kg Gold from Muthoot Finance in Hyderabad.

Five unidentified con men posing as CBI officials looted 40 kg of Gold from Muthoot Finance in Hyderabad on Wednesday. The gold was in the form of gold ornaments and is worth Rs 10 crore and 1 lakh in cash. They first gained the access through their fake CBI cover and latter went ahead with threatening the staff through weapons.

5. Suresh Kalmadi would not accept the post of Life-President at Indian Olympic Association.

As per Suresh Kalmadi’s lawyer, he would not be accepting the position of Life-President at Indian Olympic Association. Kalmadi was under several corruption charges against the Commonwealth Games scam. Suresh Kalmadi and Abhay Singh Chautala were named for the position after Indian Olympic Association’s AGM in Chennai.

6. Madhya Pradesh’s former Chief Minister dies at 92.

Former Chief Minister of Madhya Pradesh, Sunder Lal Patwa, dies at 92 after suffering from a heart attack. A three-day mourning has been announced by the state government, in the memory of the deceased. Patwa had served twice as the Chief Minister of Madhya Pradesh and was also a Cabinet Minister in Atal Bihari Vajpayee government.

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28 December 2016
Jyotsna Amla