GS Paper I- Indian Heritage and Culture.
One Rupee Note Celebrates Its 100th Birthday.
- Its genesis lies in the World War I where the inability to mint coins forced the then colonial authorities to shift to printing Re. 1 notes in 1917.
- The last hundred years — the first note was introduced on November 30, 1917, with the photo of King George V —have been all but tumultuous for this creation.
- The Reserve Bank website says its issuance was discontinued first in 1926 on “cost benefit considerations”. It got reintroduced in 1940, only to be discontinued in 1994 again. The little note got back again in 2015.
Highlights Of The Development–
- Even as it has gone through these travails, the Re. 1 note has retained many of its unique distinctions, including being called a ‘coin’ in legalspeak.
- It is issued by the Government of India and not the Reserve Bank, and is the only ’currency note’ or an asset, and not a ‘promissory note’, which is a liability.
- Again, unlike other banknotes, this is not signed by the RBI governor, but by the finance secretary.
- When introduced, the Re 1 replaced the silver coin, which was the prevalent way of storing value of the princely Re 1.
- Prices of silver surged during the World War I, so they first printed the note with a photo of the prevalent silver coin on it. Since then, every Re 1 note has a picture of the one rupee coin of that year.
- The first note had the signature of three British finance secretaries — MMS Gubbay, AC McWatters and H Denning — and every note is signed by the finance secretary, including 18 since Independence.
- The major overhauls happened in 1940 when the British changed the features, including halving its size, and in 1949 when the government replaced British symbols with official ones of the newly-formed Republic and the last in 2016, with the reintroduction of the note in the current form.
- Not surprisingly, so many changes have raised investor interest in the note and some rare notes have fetched tens of thousands in the collectors’ market.
- The centenary is expected to be a huge draw at the National Philatelic Exhibition starting in the megapolis on November 30, 2017.
Sources- The Hindu.
GS Paper II- International Relations.
Russia To Help India Set Up National Crisis Management Centre.
- Russia will assist India to set up a national crisis management centre in the country to handle disaster and other emergency situations. This was agreed during a meeting between Home Minister Rajnath Singh and Russian Minister for Emergency Situations Vladimir Puchkov in Moscow on 28th November, 2017.
- Both sides agreed that EMERCOM of Russia would cooperate with India in the establishment of the National Crisis Management Centre (NCMC) in India.
- Mr Singh held detailed discussions with Mr Puchkov on cooperation in disaster management. They reviewed the progress made on the agreement on disaster management signed in 2010.
Highlights Of The Development-
- They also agreed on a programme of training of specialists and sharing of each other’s experiences as well as best practices in the field of Disaster Management.
- The two leaders later signed a joint implementation plan for 2018-19 for cooperation in disaster management.
- Mr Singh also met Nikolai Patrushev, secretary, Security Council of Russian Federation yesterday. During the meeting, both sides reinforced their determination to further strengthen their cooperation in the sectors of security and counter-terrorism.
- They also reviewed the implementation of the agreement on information security signed in October 2016. Both sides also welcomed the ongoing cooperation and the regular exchange of visits between the two National Security Councils.
- During his three-day visit to Russia, Mr Singh visited the Federal Security Service of the Russian Federation and held talks with its Director Alexander Bortnikov. Later, he attended a reception organised by the Indian community.
GS Paper III- Security.
December 4, 2017 Is Being Celebrated As Indian Navy Day.
- December 4 is celebrated as Navy Day to celebrate Indian Navy’s achievement and as a tribute to the courage and determination made by the Indian Navy during the 1971 war.
- The Navy plays an important role in securing the marine borders as well as for the betterment of international relations via joint exercises, humanitarian missions, and calamity relief, among others.
- On December 4, 1971, the Indian Navy played a significant role in the Operation Trident, which was an attack on Pakistan Naval headquarters and sank Pakistan Naval Ship Ghazi. During the operation, the anti-ship missiles were used for the first time in the region.
Highlights Of The Development-
- The attack killed over 500 Pakistani Navy personnel and destroyed four Pakistani vessels. Three Indian Navy missile boats – INS Nirghat, INS Veer and INS Nipat – played an important role in the operation.
- With an aim to attack the Karachi port, the Indian Navy sailed from Okha Port in Gujarat towards Pakistan at around 2 pm on December 4, 1971. At around 10:30 pm when they reached 70 miles South of Karachi, the lieutenants noticed an enemy vessel. The first missile was fired which hit the vessel PNS Khaibar but it was still floating. The second missile hit the ship destroyed the vessel. To defend the harbour, Pakistani vessel PNS Muhafiz too approached and then INS Veer fired its first missile. The attack resulted in sinking the vessel thus killing the entire crew in it.
- The operation was carried for 90 minutes, which resulted in the firing of six missiles by Indian Amry that destroyed four enemy vessels including a cargo ship that was loaded with ammunition. The operation was successful without a single Indian casualty. Since then to commemorate the day, December 4 is celebrated as the Indian Navy Day.
- The day is celebrated by showcasing Indian Navy’s technological progress and the maritime achievements of India. In 2017, Indian Navy’s award-winning innovations are put on display at the ‘Innovation Pavilion’ at the Navy House, New Delhi.
- On display are the innovations by the INS Kuthar and INS Vikramaditya which have been selected as the winner and runner-up respectively in the ‘Operation Units’ category. At the Gateway of India in Mumbai, the Indian Navy performed the Beating Retreat ceremony and also did a spectacular display of performances to enthrall the massive crowd.
Sources- The Free Press Journal.