Five must-read stories—January 31
The stories you can’t miss
The move to print ₹2,000 note was supposedly linked to reasons like inflation and the fact that high denomination currencies were seen as losing their value, reports Scroll.in. Apparently, the original plan was that Prime Minister Narendra Modi would unveil the ₹2,000 note on October 30, 2016, the day of Diwali.
Parallels have been drawn between an Indian legislation-in-the-making and US President Donald Trump's executive order that imposes restrictions on immigrants from seven predominantly Muslim countries. The Narendra Modi government has been working towards enacting the Citizenship (Amendment) Bill, introduced last year and now under the scrutiny of a parliamentary committee. A Telegraph report.
The Election Commission is set to ask candidates contesting assembly polls in five states to open current accounts to sidestep the limits in place for saving accounts after the RBI’s latest circular on Monday removed all limits on cash withdrawal from current accounts, reports The Economic Times.
The first task of the four-member Committee of Administrators (COA)—comprising former CAG Vinod Rai, historian Ramachandra Guha, IDFC MD Vikram Limaye and former India women’s captain Diana Edulji—will be to get the BCCI to fall in line with the terms of the Justice Lodha Committee report and the Supreme Court judgment, reports The Hindu.
Tax-free living will soon be a thing of the past for Saudis after its cabinet on Monday approved an IMF-backed value-added tax to be imposed across the Gulf following an oil slump. A 5% levy will apply to certain goods following an agreement with the six-member Gulf Cooperation Council in June last year. A Guardian report.