Top 5 Current Affairs: 5 January 2018

RBI introduces Rs 10 banknote in Mahatma Gandhi (New) Series

The Reserve Bank of India (RBI) on 5 January 2018 introduced the Rs 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Governor Urjit R. Patel.

However, all the banknotes in the denomination of Rs 10, issued by the Reserve Bank in the earlier series, will continue to be legal tender.

The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country's cultural heritage. The base colour of the note is Chocolate Brown. The dimension of the banknote will be 63 mm x 123 mm.

Child's rights sacred, cannot be bartered by orphanage in-charges: Supreme Court

The Supreme Court on 4 January 2018 ruled that the rights of a child are absolutely sacred and a child cannot be bartered away at the whim and fancy of the in-charge of orphanages. The person concerned may be liable for violation of human rights.

While giving the above ruling, the bench of Chief Justice Dipak Misra, Justice AM Khanwilkar and Justice DY Chandrachud also said that they would take comprehensive view of running the orphanages in the country.

The Supreme Court bench was hearing a plea filed by National Commission for Protection of Child Rights (NCPCR) regarding the issue pertaining to trafficking of children, which has a vital national concern and recognizes no boundary.

The plea challenges the Calcutta High Court order blocking NCPCR's probe into the allegations of trafficking of children staying in orphanages.

GOI launches 7.75% Savings (Taxable) Bonds, 2018

Government of India has launched of 7.75% Savings (Taxable) Bonds, 2018 scheme to enable resident citizens/HUF to invest in a taxable bond, without any monetary ceiling. This new saving scheme will be commenced from 10th January 2018.

Earlier, the finance ministry said that the subscription of 8% government savings (taxable) bonds 2003, will be closed with effect from 2nd January 2018.

The government had started the 8% government savings (taxable) bonds in 2003 to persuade retail investors to invest. The bond had 6 years of fixed tenure and there was no upper limit for investment.

US suspends security aid to Pakistan

The United States of America announced on 4 January 2018 that it has suspended over 1 billion US dollar security assistance to Pakistan, accusing the nation of harbouring terror groups like the Afghan Taliban and the Haqqani Network within its border and showing an unwillingness to take ‘decisive actions’ against them.

The announcement was made by State Department spokesperson Heather Nauert who said that despite a sustained high-level engagement by the Trump administration with Islamabad, Taliban and Haqqani Network continue to find sanctuary inside Pakistan.

She said that the decision reflected the Trump administration’s frustration that Pakistan has not done more against the two groups, which have long used their sanctuaries in Pakistan to launch attacks in neighbouring nation Afghanistan that have killed many US, Afghan and other forces.

Three Ministries sign MoU for a Technology Mission for Indian Railways

Three Ministries of the Union Government, the Ministry of Railways, Ministry of Human Resource Development and the Department of Science & Technology on 4 January 2018 signed a Memorandum of Understanding (MoU) at Rail Bhawan, New Delhi for joint funding of Technology Mission for Indian Railways.

The unique effort is in line with Prime Minister Narendra Modi’s vision of ‘Sabka Saath, Sabka Vikas’. The MOU will facilitate the co-financing of ‘Technology Mission for Indian Railways’ by investment sharing for identified railway projects for applied research.

Under the MoU, Ministry of HRD and Ministry of Science & Technology have agreed to fund the TMIR projects to the tune of Rs 75 crore each while Railways and Industries would also be contributing to their respective shares.