In 1950 the Chinese People’s Liberation Army (PLA) invaded Tibet. Under Mao’s leadership, China was looking for the reunification of former Chinese territories, one of which was Tibet. Since then, guerrilla warfare had persisted between Tibetan Rebels who desired independence and Chinese soldiers. Despite the fact that Mao viewed this reclamation of Tibet as a [...]
The AFSPA Act passed in the Indian Parliament in 1958, granting special powers to the Indian Armed Forces to maintain public order in “disturbed areas”. Passed by both houses of Parliament and approved by the President, the Act came into force in the context of the growing violence and brewing unrest in the North Eastern [...]
A decade after independence in 1957, the amended The Indian Coinage Act was adopted allowing a decimal system for coinage. The Rupee remained unchanged in value and nomenclature, but each rupee was now divided into 100 “Paisa” instead of the earlier 16 Annas or 64 Pice. To allow sufficient time for public recognition, the new [...]
Life Insurance Corporation was established on September 1, 1956, with the passing of the Life Insurance of India Act in Parliament. Its primary aim was to ensure that every insurable person in India received adequate financial cover at a reasonable cost irrespective of whether they are in rural or urban areas; to this end, the [...]
The origin of India’s largest bank, the State Bank of India, can be traced back to the 27th of January, 1921. Formerly known as the Imperial Bank of India, it was created because of a merger between the three presidency banks, Bank of Bengal, Bank of Bombay and Bank of Madras. It was the last [...]
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