From the archives of the Hindustan Times: October 24

India hockey champions again (1964)

Tokyo- Indian hockey is back again on the “gold standard.” In an unpredictable reversal of form, the “soft and mediocre” team or the competition turned the tables on champions Pakistan. A penalty-stroke awarded against Pakistan in the fifth minute after a goalless first half did the trick.

It helped India settle a four-year-old score when Pakistan dethroned India at the Rome Olympics. The Olympic final here this afternoon was a Hitchcock production from the word “go.”

Both Indian and Pakistani supporters jammed the Komazawa Stadium which resounded with slogans reminiscent of an election campaign. “Hindustan zindabad” screamed India’s supporters and Pakistan’s backers replied with “Allah Ho Akbar.”

The grandstand, tingling with excitement bordering on hysteria, was literally ablaze with Pakistani fury when Prithipal and opposing centre-forward Afzal glared at each other after an unfortunate collision.

The Olympic final, basically a defence-dominated match, was a personal triumph for goalkeeper Laxman, who turned in an inspired performance in the trying minutes when Pakistan went flat out for an equalizer. Laxman, star of three Olympic teams since Melbourne, accounted for three spectacular saves when the Pakistani attack was in full cry after India gained the match-lead.

The final was a triumph for one other man-hockey chief Ashwini Kumar, who vowed to retrieve the gold medal lost to Pakistan in the Rome Olympics.

Players chaired

Minutes after the final whistle, Indian spectators in the stadium broke police and security cordons to invade the field and chair the Indian players and Ashwini Kumar, whose cheeks were damp with tears of joy and exultation at the mission so successfully accomplished.

Mrs Gandhi launches first India-made frigate at Mazagon (1968)

Bombay- The first India built warship was launched by Prime Minister Indira Gandhi at Mazagon dock today (October 23). The new Leander class frigate to be commissioned into the Indian Navy in 1971 was named INS Nilgiri by Mrs Gandhi.

As the Prime Minister broke a coconut on the bows of Nilgiri to mark the launching ceremony, it slid down gracefully into the sea with its new paint gleaming in the rays of the sun. Thousands gathered at the quayside applauded.

The ceremonious launching included placing a garland and vermillion mark on the hull of the warship in the traditional way.

In a speech before the launching ceremony, Mrs. Gandhi declared India had no ambition to dominate the Indian Ocean. She expressed the hope that the Indian Ocean would always remain an area of peace and a bridge of understanding between the littoral States whose nationalism and independence were the best safeguards for the progress and tranquillity of the region.

Insurance sector opened up (2000)

New Delhi- The Insurance sector has finally been thrown open to private companies. The Insurance Regulatory and Development Authority (IRDA) on Monday (October 23) issued the first batch of six licences to joint ventures with 26 per cent foreign equity.

Six insurance joint ventures - three in life and three non-life - were granted licences by IRDA chairman N. Rangachari.

Reliance General Insurance Co Ltd, HDFC Standard Life Insurance Company Ltd, Royal Sundaram Alliance Insurance Co Ltd which have already brought in the equity capital, have been given final clearances.

Three other insurance joint ventures - ICICI Prudential Life Insurance Co, Max New York Life Insurance Co Ltd and Iffco-Tokio General Insurance Co - were granted “in-principle clearance” for registration. Once these companies put in their equity, final licences would be accorded by the IRDA.

Sources in the IRDA said that another six cases would be processed for insurance clearances in the next one month.

With the grant of six licences, the monopoly of state-owned insurance companies, including Life Insurance Corporation (LIC), General Insurance Corporation (GIC) and its subsidiaries, has come to an end.

According to indications, all the six firms would be vying to issue the first private insurance policy in the country.

Grant of licences within a very short period after receiving applications has come as a “pleasant surprise” to several promoters who had experienced policy-related inordinate delays in the past three years.