Wednesday, August 29, 2012

Complete ban on hiring children below 14


The Union Cabinet gave nod to a proposal for amending the Child Labour (Prohibition and Regulation) Act, 1986, to ban employment of children aged up to 14 in any form of industry. As per this act it will be an offence to employ children below 14 not only in factories or industries but also in homes or on farms, if their labour is of any commercial interest.

National Sample Survey Organisation(NSSO)'s figures show that this act would benefit 46 lakh children who  work in different industries. Another amendment also approved for banning employment of children in the age bracket 14-18 ( “adolescents”) in hazardous conditions. This decision is in line with the convention of the International Labour Organisation (ILO). This act will help in implementing Right of Children to Free and Compulsory Education Act or RTE which makes education fundamental right of a child aged 6-14.

Check this also...
http://kalyan-city.blogspot.in/2009/07/child-labour-in-india-still-prevalent.html

Tuesday, August 28, 2012

No-frills demat account

Securities and Exchange Board of India (SEBI), introduces no-frills demat account for small investors. The annual maintenance charge will be slab based. SEBI asked all depository participants (DPs) to make available a Basic Services Demat Account (BSDA) with limited services and reduced costs for retail individual investors. This is for those investors whose holdings in demat account does not exceed Rs.2 lakh at any point of time.
The Annual Maintenance Charge(AMC) slab is as below:
   Up to Rs.50,000, AMC will be nil while it will be Rs.100 between Rs.50,001-200,000.

Sunday, August 26, 2012

Apple - Samsung patent case


Apple Inc won over Samsung as a US jury found the Korean company had copied critical features of the popular iPhone and iPad and awarded the US company $1.049 billion in damages. This could lead to an outright ban on sales of key Samsung products which will benefit Apple product sales in US.  This decision firmed the position of Apple at the top of the list of highest ever market value company in the history of the world. The interesting fact is that even when the companies are rivals they  have a $5 billion-plus supply relationship in which Apple buys microprocessors and other parts central to Apple’s devices which makes Apple the biggest customer of Samsung.
According to experts this ruling will affect Google's Android platform the most. Now manufacturers will not be happy to go with Android as they will have to face risk of patent issue. Time only will tell about this...

Worth reading