State-owned Allahabad Bank raised benchmark lending rate by 5 basis points or 0.05 percent, a move that will make all its loan costlier. The MCLR was introduced into the banking system as an alternative to the base rate, below which banks cannot lend.
Allahabad Bank headquartered at Kolkata.
GE Power India has bagged orders worth Rs 1,783 crore from NTPC for installation of air quality control systems at four of its power plants. The four power plant projects are Solapur, Tandra, Feroze Gandhi and Meja Thermal Power Project.
NTPC Limited Headquartered at New Delhi.
The government has decided to sell its 3-percentage stake in the Coal India company through Offer For Sale (OFS) route which may fetch the exchequer Rs 5,000 crore. The government currently holds 78.32 percent stake in Coal India.
Piyush Goyal is the minister of coal.
India would need around USD 4.5 trillion till 2040 for development of infrastructure sector in the country, Niti Aayog CEO Amitabh Kant said. India is growing at the rate of 7.5% per annum and the challenge is to grow at higher rates.
Narendra Modi is the Chairperson of NITI Aayog.
The Karnataka state government signed up 21 firms including Uber, Ola, Swiggy, and Bata for its programme of creating 10,000 entrepreneurs annually from among the SC/ST youth. The government has set aside Rs 800 crore for the Samruddhi program.
H. D. Kumaraswamy is Chief Minister of Karnataka.
Santiago Solari has been put in temporary charge of Real Madrid after Julen Lopetegui was sacked. Solari was the coach of Madrid's B team. Now Solari in-charge of Real Madrid team. Solari played five seasons at Real (2000-2005).
Madrid is the capital of Spain.
Actor Anupam Kher has resigned as the chairman of the Film and Television Institute of India citing commitments to an international TV show for which he must be stationed in the U.S. Kher had replaced Gajendra Chauhan as the head of the FTII.
FTII is located in Pune since 1960.
PM Modi dedicated to the nation Statue of Unity, built in honour of Sardar Vallabhbhai Patel at Kevadiya in Narmada, Gujarat. The statue is of the 182-meter statue is twice the height of the Statue of Liberty in the US makes it tallest in the world.
Rashtriya Ekta Diwas celebrated to mark the birth of Sardar Patel.
Nobel Prize Winner Malala Yousafzai would be honored with the 2018 Gleitsman Award by Harvard University for her work promoting girls' education. She became the youngest person to win the Nobel Peace Prize in 2014.
Gleitsman Award provides 125,000 US dollars prize.
Ford and Baidu will collaborate on the development and testing of driverless vehicles for two years. Ford's autonomous vehicles have already been fitted with Baidu's autonomous driving system Apollo. On-road testing will start in December.
Baidu is a Chinese internet giant.