The RBI has demanded all RRBs (Regional Rural Banks) to double the limit for home loans to Rs 10 lakh from Rs 5 lakh for lending for the Priority Sector. The increment in the limit will be applicable for the bank loans extended to non-governmental agencies, sanctioned by National Housing Bank for their refinance, on-lending for the function of construction or reconstruction of individual dwelling units and rehabilitation of slum dwellers.

Prime Minister Dr. Manmohan Singh inaugurates the “Guru Gobind Singh Refinery” at Bathinda in Punjab.

• Guru Gobind Singh Refinery (GGSR) is a refinery owned by Hindustan Mittal Energy Limited (HMEL) a joint venture between HPCL and Mittal Energy Limited, a company owned by L N Mittal. It is located in village Phulokheri, Bhatinda, Punjab, India.

In Nepal, a 3-day India-Nepal crafts festival began in the capital Kathmandu. Inaugurating the festival, Nepal’s President Dr. Ram Baran Yadav held that such a common platform which would help artisans in both Nepal and India.

Nepal Oil Corporation (NOC) and Indian Oil Corporation (IOC) inked an agreement on the supply of petroleum products for the next 5 years. As per the agreement, IOC has agreed to waive off 2.5% Price Adjustment Factor, which includes refinery and transportation charges among other technical losses under IOC’s existing price formula. As per NOC, this will assist Nepal to save 2 billion Nepali rupees yearly. IOC has also settled to add a fresh port in Mumbai to allow Nepal Oil Corporation easily distribute petroleum products in mid- western and far western regions.
At present fuel has been supplied by IOC to Nepal via Haldia port in West Bengal. They also agreed to forward the process to enhance the supply of cooking gas to Nepal from other Indian refineries, which presently is supplied via Haldia and Mathura refineries.

The Union Cabinet sanctioned a bill dealing entirely with sexual offences against children. The 'Sexual Offences Against Children Bill' aims rigorous punishment for sexual intercourse or contact with sexual intent with a child below 18 years.

• The punishment ranges from 3 years' imprisonment to life term for a person who commits sexual harassment, sexual assault, penetrative sexual assault or aggravated penetrative sexual assault.
• The Bill recommends 10 years of imprisonment extendable to life imprisonment and fine for aggravated sexual assault.
• It will be treated as an aggravated offence where the child victim is below 12 years or has mental or physical disability or the sexual offence causes grievous hurt or injury to the child with long term adverse effect on the child’s mind and body.