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Weekend News

04/13/23By: Priyanka Sharma

The ranks of Indian billionaires grew by a third in 2010, with the 100 richest holding wealth comparable to that held by the 400 richest in mainland China, Forbes magazine .

Mukesh Ambani, who controls conglomerate Reliance Industries , remained the richest Indian on the Forbes list with a fortune of $27 billion.

Shares in his firm have underperformed the market this year, leading to a 15 percent erosion in his wealth.


London-based steel tycoon Lakshmi Mittal stayed in the No. 2 slot, but his wealth dropped 13 percent from a year earlier.

Mukesh Ambani's saw the biggest reduction in wealth dropping to the No. 6 spot from No. 3 a year earlier.


Prince Charles and India's President will declare open the Games at Jawaharlal Nehru stadium.

"Suresh Kalmadi, Chairman of the Organising Committee, received the royal couple here," a press release from the organisers said.

"The Prince will spend time with athletes from a broad cross-section of Commonwealth countries," the release added. 04/13/23By: Priyanka Sharma

This may surprise those aspiring to be engineers, and may even cause a rethink among job seekers: Over 3,800 graduate and 200 postgraduate are set to join SBI in the clerical cadre.

There were 88,000 successful candidates and 27,000 were finally selected after personal interviews. "It was the biggest such exercise for us," a senior SBI official said.

Out of the 27000: *3,800 are graduate engineers, *200 are postgraduates in different branches of

engineering, *8,200 are women and *2,000 are ex-servicemen.


According to a senior HRD professional, it is difficult to believe that engineering graduates are taking up clerical assignments.

"The country boasts of having a large number of engineering colleges. However, it does appear that we are producing engineers without accessing the manpower requirement," he said.


Indian Bank has raised by 50 basis points to 8.5 percent, with effect from Oct.1.

It has also raised benchmark PLR by 25 basis points to 12.75 percent, it said in a statement to the Bombay Stock Exchange.

IOB also said it has raised base rate and by 25 basis points to 8.5 percent and 12.75 percent respectively, excluding housing loans, with effect from Oct. 1.

Earlier IDBI, Axis and PNB raised base rates. 04/13/23By: Priyanka Sharma

The Indian government has manual access to chat communication on BlackBerry services and expects to get automated access from Jan. 1.

It won a 60-day reprieve at the end of August after offering India a solution to monitor BlackBerry data, a claim yet to be confirmed by the Canadian firm.

"We have manual access to the messenger service. We want automated access and we are hopeful of getting it from January 1," G.K. Pillai, India's home (interior) secretary said.


At the moment, security agencies are getting manual printouts of chat messages within four to five hours of placing their requirements with RIM.

The has threatened to suspend BlackBerry Messenger, email and web browser services from Oct. 11 unless the government gets access to encrypted messages.


Technology czar has committed to put aside well over 10% of his wealth for philanthropic ventures.

These ventures, under the Shiv Nadar Foundation, span building and running free schools, a proposed university and a museum of art.

Mr Nadar’s personal wealth, based only on his shareholding in listed companies, including HCL Technologies and HCL Infosystems , is pegged at about Rs 15,000 crore.


In the next five years, his philanthropic educational projects will entail an expenditure of Rs 4,000 crore.

He sold a 2.5% equity in HCL Technologies this June and pumped the entire Rs 585 crore proceeds into his philanthropic efforts.



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