Magsaysay Award for Indian social activist

Indian social activist Kulandei Francis whose community initiatives in Krishnagiri, Tamil Nadu, helped thousands of rural women to form micro enterprises to break out of poverty, is one among this year’s six winners of the Magsaysay Award.
His main contribution was in the form of Integrated Village Development Project(IVDP). 
Magsaysay award is given by Ramon Magsaysay Award Foundation (RMAF). This award is given in memory of Ramón del Fierro Magsaysay who was was the seventh President of the Republic of the Philippines.

SBI launches $1 bln bond sale

State Bank of India launched a five-year dollar bond sale aiming to raise $1 billion or more. India’s banking giant has given an initial guidance of around 400 basis points over Treasuries. Indian corporate house and financial institutions refrained from selling dollar bonds for quite a time as a surge in risk aversion and India’s worsening economic and fiscal fundamentals have made it expensive to borrow in dollars. As the local interest rates is so high it is beneficial for Indian firms to borrow overseas.

L&T, Pipavav to build warships with Mazagon Dock

 

L&T and Pipavav Defence and Offshore Engineering Company, formerly Pipavav Shipyard, have signed deals with Mazagon Dock to build warships for the defense.

By this move the requirement, ‘guidelines for establishing joint venture companies by Defence public sector undertakings,’ laid down by the Defense Ministry.