Five must-read stories—December 14
The stories you can’t miss
In a major lapse, security threads that were to be used on the now demonetised ₹1,000 currency notes were embedded in about 200 metric tonnes of paper allotted for the new ₹2,000 notes, reports The Quint. Apparently, this was the primary reason to stop the printing of the new ₹2,000 notes—besides the slow rate of printing of the new ₹500 notes.
If the government wants to introduce ₹9 lakh crore—or 35% less money than it pulled out—it will take up to May 2017, and if it wants to reintroduce the entire ₹14 lakh crore that it withdrew, that could take up to August 2017. Business Standard says the crux of the problem is the ₹500 note, which India’s presses cannot print in adequate number currently.
The Rajasthan government floated a tender on November 21 for a helicopter for Chief Minister Vasundhara Raje, specifically wanting only the AgustaWestland’s AW169 helicopter. The deal is estimated to be worth over ₹50 crore, says The Economic Times. The tender, unusually, gave contenders only seven days to respond.
The World Bank in Monday decided to temporarily halt the arbitration process between India and Pakistan on the question of the Kishanganga and Ratle hydroelectric projects being built by India along the Indus water system. The Tribune reports that India voiced a sense of diplomatic victory over the bank’s decision.
The Centre has ordered a review of the country's "entire IT infrastructure" in an effort to "harden" the security wall, in response to the several hacking incidents by hacker group 'Legion'. The Economic Times says the measures include auditing of the National Payment Corporation of India (NPCI), review of the IT Act to make it stronger and setting up a crack team to respond to unusual incidents on a war footing.