GOI has approved releasing ₹8655 Cr to 3 PSBs - Allahabad Bank (₹2153 Cr), Indian Overseas Bank (₹4630 Cr) and UCO Bank (₹2142 CR) for preferential allotment of shares. All these three banks are currently under the RBI’s PCA framework.
IOB CEO - Karnam Sekar.
Council of Scientific & Industrial Research-Central Drug Research Institute (CSIR-CDRI) signed MoU for collaboration to jointly develop new drugs for treating various medical conditions & repurposing of drugs for India & global markets with Cipla Ltd.
Umang Vohra, MD & Global CEO of Cipla
State Bank of India has introduced a one-time password (OTP)-based cash withdrawal system for its ATMs. This facility will be available for transactions above Rs 10,000 between 8 pm and 8 am. It will be applicable from January 1, 2020.
It has not been developed in National Financial Switch.
The Reserve Bank of India has asked lenders to cut their stakes in insurers to 30%, as the banking regulator attempts to shield banks from risks arising out of their non-banking businesses and steer focus to boosting credit growth in a slowing economy.
ICICI Bank owns 52.87% in ICICI Prudential Life Insurance.
Kotak Life launched new digital campaign, highlighting the importance of a ‘complete’ life insurance plan. Kotak Life’s #PooraPlan provides complete family protection that not only covers Life but also Critical Illnesses & Disabilities of the insured.
Mr. G Murlidhar, MD, Kotak Mahindra Life Insurance Company Ltd.
HRD Minister launched 5 documents developed by UGC covering the 5 verticals of Quality Mandate. It cover evaluation reforms, eco-friendly &sustainable university campuses, human values & professional ethics, faculty induction & academic research integrity.
Human Resource Development Minister- Ramesh Pokhriyal Nishank.
A Rohini (RH) 200 sounding rocket shot off from Thumba. Vikram Sarabhai Space Centre used the sounding rocket mission to study changes in the earth’s upper atmosphere during the eclipse. Sounding rockets have been lifting off from Thumba since the 1960s.
S Somnath, Director, Vikram Sarabhai Space Centre (VSSC)
Allee Willis, a songwriter whose work included the Broadway musical "The Color Purple" as well as the theme song from the TV show "Friends" & Earth, Wind & Fire’s "September," died. She was 72. Willis was inducted into the Songwriters Hall of Fame in 2018.
She was nominated for an Emmy for the "Friends" theme song
According to the Global House Price Index Q3 2019 of Knight Frank, India ranked 47th in the world in terms of appreciation in housing prices as rates grew by only 0.6% during July-Sep. India stood at 11th in the April-June quarter of 2019 in home prices.
Hungary leads the index during July-Sep followed by Luxembourg.
Mastercard entered into an agreement to acquire RiskRecon to support companied in protecting their cyber systems and infrastructure. RiskRecon will design the cyber solutions to help financial institutions, merchants & govt secure their digital assets.
Ajay Bhalla - President of cyber and intelligence for Mastercard
Goa spinner Shadab Jakati, who also played in the cash-rich Indian Premier League, retired from all forms of cricket. He was part of teams like Chennai Super Kings, now defunt Gujarat Lions and Royal Challengers Bangalore.
He had scalped 275 wickets from 92 first-class matches.