Five must-read stories—January 2

Gap between India’s share in world GDP and world market cap at highest in 13 years

The gap between India’s share of world market capitalisation and its share in world gross domestic product (GDP) has widened to the highest in at least 13 years, reports Mint. While India’s GDP as a share of global GDP is 2.99%, its share of market capitalisation is 2.26%.

SBI slashes lending rate by 0.9%, Union Bank, PNB follow

State Bank of India slashed interest rates by 0.9 percentage points to 8% on Sunday. Union Bank of India and Punjab National Bank also announced cuts ranging from 60 to 90 basis points, reports The Economic Times.

For peace, won’t hesitate to use force at border: Army Chief

Army Chief General Bipin Rawat, who has planned and executed two cross-border surgical strikes, on Sunday sent out a strong message, saying India wanted peace and tranquility at its borders, but would not hesitate from using its power in any form, reports The Tribune.

Two Indians among 39 dead in Istanbul nightclub shooting

A Bollywood producer and a woman from Gujarat were among the 39 people shot dead in Turkey when at least one gunman attacked an upscale night club packed with revellers, says The Telegraph.

Kerala man honoured with Kyrgyzstan’s top military post

Kerala-born, Saudi-based entrepreneur Shaikh Rafik Mohammed, 42, has been appointed Major General of Kyrgyzstan, in a first for an Indian in the Central Asian country, reports The Asian Age.