Around the Globe

Around the Globe

Akhilesh stages coup, declares self as SP chief

Uttar Pradesh chief minister Akhilesh Yadav has emerged as a formidable force after coming out of the shadow of his father by staging a coup that will set the tone for the upcoming elections. A leaked internal mail from Akhilesh’s US-based advisor Steve Jarding, however, suggests that war in SP is orchestrated to project the Yadav scion as a development icon.

Delhi-Goa round-trip may cost Rs 25,000 soon

In the midst of a steady rise in air traffic demand, the Indian Navy wants the number of civilian flights allowed at the Goa airport to be halved. The Navy has cited the requirement of airspace and facility for military exercise for drastically reducing the number of flights. The Goa International Airport, the only airport in the state, is a naval facility where state-owned AAI operates a civil enclave offering a few flying slots to airlines.

DeMo benefit: SBI, others cut lending rates steeply

The New Year has ushered in a lower rate regime. A day after prime minister Narendra Modi asked banks to prioritise lending to the poor and the middle class, several state-owned banks on Sunday cut their lending rates. More banks are set to follow suit.
The country’s largest lender, State Bank of India (SBI) announced a steep 90 basis points (0.90 per cent) cut in the marginal cost of funds based lending rate (MCLR) across all maturities. Punjab National Bank (PNB) cut its MCLR rates by 70 basis points soon after.