6 November 2013 Current Affairs
Railways Flagged Off first Dual Cab Freight Diesel Locomotive
Railways Minister Mallikarjun Kharge on 6 November flagged off the first dual-cab 4500 HP freight diesel locomotive called ' Vijay ' from Diesel Locomotive Works (DLW), Varanasi, a production unit of Indian Railways.. At the same time, the Minister announced to stop the Swatantrata Senani Express at Bhulanpur Railway Station, Sub-way at DLW administration.The Diesel Locomotive Works (DLW) has not only increased its production in large but also developed latest state-of-the-art technologies. Building of this WDG4D High Horse Power freight locomotive is a breakthrough for DLW as well as for the Indian Railways.
RBI Permits Foreign Banks' Subsidiary To Acquire Private Banks
The Reserve Bank of India (RBI) on 6 November permitted the Wholly Owned Subsidiaries (WOS) of the foreign banks to acquire the domestic private sector banks. RBI also permitted the banks to set up branches anywhere in the country.As per the permission given by RBI, the foreign banks will have to seek permission of RBI to open branches in certain sensitive locations. The foreign bank subsidiaries have also been allowed to list on the local stock exchanges. Although, they will not be allowed to hold more than 74 percent in the private banks they may acquire.The order of the RBI also stated that the foreign banks that commenced banking business in India before August 2010 will be given an opportunity to convert into a wholly owned subsidiary.