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January 17, 1978, Forty years ago: Notes demonetised

Here is what had happened forty years ago, have a look

By: Editorial | Updated: January 17, 2018 8:06 am
Express front page, forty years ago, Janata government, demonetisation, demonetised notes, editorial news, indian express, indian express news Express front page forty years ago

Notes demonetised

The Janata government, in a bold step on the economic front, demonetised currency notes of the denomination of Rs 1,000, Rs 5,000 and Rs 10,000 with immediate effect. The government took this step as these high-denomination notes are believed to facilitate “illicit transfer of money for financing transactions harmful to the national economy.” The president, Sanjiva Reddy, promulgated an ordinance after an emergency Cabinet meeting held in utmost secrecy, withdrawing from circulation these high-value currency notes. These currency notes cease to be legal tender in payment or on account at any place from January 17.

MP CM race

Veerendra Kumar Saklecha is certain to become the next chief minister of Madhya Pradesh as Sunderlal Patwa has decided to withdraw from the contest and support Sakhlecha. However, Saklecha may not be elected unanimously as Arjun Singh Charu, an Adivasi legislator submitted his candidacy to the Janata Legislature Party. Charu is being backed by a small number of Adivasi and Dalit MLAs who feel a member of the backward classes should be CM.

19 dacoits killed

Nineteen dacoits were killed in two separate encounters with the police in Lucknow range. This is the largest number of dacoits killed in a single night in one range. In an encounter in the village Tandiwa on the border of Sitapur and Hardoi districts, 11 dacoits were shot dead. In another encounter, eight dacoits were killed in a village in Itaunja police circle.

PM for solar

The week-long international solar energy conference began in Vigyan Bhavan in New Delhi with an appeal from Prime Minister Morarji Desai to scientists to develop means to utilise inexhaustible sources of energy. About 1,000 experts, including 350 foreign delegates are attending the conference.

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