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ET Newsby Ridhi Sood
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GOVT TO RENT OUT COMPUTERS IN THE RURAL AREAS AT Rs 15 PER DAY
After the slow pick-up of the $220 One Laptop Per Child Project, and an uncertainty over the $35 laptop called Sakshat, the government is now experimenting with another model—to dole out computers on rent to spread IT literacy in the country.
Under a pilot program to be launched by the ministry of IT & communications, computers specially built for rural areas will be deployed in five locations, and then rented out to citizens. “The cost may vary from 15-20 per day.
. This model may remove the hindrance of affordability in buying computers . We are talking to various companies like Intel, HCL Infosystems.
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Apple's new iPod: Wear it on your wrist!
Apple launched the nifty new iPod nano dubbed 'iWatch', arguably the smallest music player in the market which can be worn on the wrist.
It is functionally similar to the iPod and iPhone
and also boasts a 'multi-touch' screen, allowing more than one finger to be used on the screen at once.
Its battery life is also impressive, with 24 hours of music playback in addition to an FM radio.
.
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LIC earns premium of Rs 4,853 cr from BSNL
Life Insurance Corporation (LIC) on Friday said it has earned premium of Rs 4,853 crore from BSNL under a group scheme, which is the largest sum got by a life insurer from a single company.
This single large deal would further improve LIC's market share, which currently is around 71 per cent.
The policy bond of BSNL Employees Leave Encashment Scheme which is the corpus towards earned leave encashment to be paid to employees of BSNL at the time of retirement.
LIC is already servicing entire BSNL employees Group Savings Linked Insurance Scheme (GSLI) and the Gratuity Scheme for those employees of BSNL who have joined after the corporatization of BSNL, it said. As such BSNL has become the largest customer of LIC in terms of managing the schemes of employee benefits, it added .
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ArcelorMittal, Indiabulls Real Estate to form JV for coal and iron ore mining
• INDIABULLS Real Estate and LN Mittal’s ArcelorMittal will form a joint
venture for mining coal and iron ore. The move is aimed at owning captive mines for the two companies’ businesses. Indiabulls has power plants, while ArcelorMittal is the world’s largest steelmaker.
• The move to form a joint mining venture is the latest by ArcelorMittal to establish a presence in the Indian steel market, considered the world’s second-largest after China.
• Indiabulls executive director Gagan Banga said that” The joint venture will look at all mining opportunities that will be offered in India, while for captive purposes, coal and iron ore are the two minerals we will be interested in,”
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World Bank clears $220m Kosi package for Bihar
THE World Bank has cleared a $220-million (a little above 1,000 crore) credit package for Bihar to back the Nitish Kumar government’s rebuilding efforts in areas ravaged by the 2008 Kosi floods.
The credit, cleared on Friday, is being lent by the International Development Association, the World Bank’s concessionary lending arm.
The Bank’s package is in the form of interest-free loans. The principal amount
can be repaid within a span of 35 years, with a 10-year grace period. The Centre will provide the financial assistance from the National Disaster
Relief Fund. The proposal is expected to be formally cleared next week by a high-level committee headed by finance minister Pranab Mukherjee.
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The Bihar Kosi Flood Recovery Project unveiled by the World Bank in Washington on Friday will “finance flood recovery efforts through the reconstruction of about one lakh houses, 90 bridges and 290 km of rural roads.
It also aims to reduce future oriented risks by strengthening flood management capacity, restoring livelihoods, and improving the emergency response capability of the state through a provision of contingency funding”.
The Bihar Kosi Flood Recovery Project, the World Bank said, has five key components, including owner-driven housing reconstruction; reconstruction of roads and bridges; strengthening flood management capacity, livelihood restoration and enhancement; and improving emergency response capacity.
