Page-42 of 2012

Westpac Banking Corporation opens its firsrt branch in Mumbai

November 18, 2012

Westpac Banking Corporation (Westpac Institutional Bank) received its banking licence from RBI on April 16, 2012. Westpac has operated in India since 2007 through its representative office. Westpac Institutional Bank (WIB): The Institutional Bank, which contributed 26% of Westpac’s total ..

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Sweden’s Volvo to invest in India

November 18, 2012

Volvo is a Swedish truck, bus and earth-moving equipment maker. Volvo is the world’s 2nd largest truck maker by revenue. Volvo declared its plans to invest R s 3,800 Crore in India in next few years. Of this amount, it ..

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Finance Minister asks RBI to issue the final guidelines for new banking licenses

November 18, 2012

The Finance Minister P Chidambaram has asked RBI to finalize the guidelines for issue of new banking licenses and commence accepting applications applications from interested entities.   But, RBI insists on amending the Banking Regulation Act before such a move. What ..

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Protection of Children from Sexual Offences Act, 2012 comes into force

November 17, 2012

The Protection of Children from Sexual Offences Act, 2012 – was passed by Parliament in May, 2012 to address the evil of child sexual abuse. Definition of a child under the Act: The Act is gender-neutral and defines a child ..

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Madhav Chavan wins WISE Prize ‘The Nobel Prize for education'

November 17, 2012

Dr Madhav Chavan has won the WISE Prize. The WISE Prize is considered to be the "Nobel prize for Education". Prize of $500,000 (£314,000) In recognition for his education work in the slums of Mumbai. His efforts to provide lessons ..

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‘Archduke Joseph diamond’ sold at world record price of $ 21.5 million

November 17, 2012

 ‘Archduke Joseph diamond’ A 19th century rare 76 carat diamond Indian  diamond. Named after its first owner Archduke Joseph August of Austria. Sold at world record price of $ 21.5 million (about Rs. 118 crore) at an auction in Geneva. ..

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Income Ceiling for EWS and LIG housing raised by Govt

November 17, 2012

Government has settled to raise the bar on yearly income needed to qualify for benefits under its existing housing schemes for Economically Weaker Sections (EWS) and Lower Income Groups (LIG). The move will benefit 20 lakh (2 million) people as ..

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‘Project Lakshya’ for streamlining LPG supply

November 17, 2012

“Project Lakshya” launched by the The Petroleum and Natural Gas Ministry. Objective:  Reduce waiting time for delivery of LPG cylinders Track duplicate connections Preventing fake additional connections for getting more subsidized cylinders, monitor those who consumed less than six [cylinders] ..

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