Uttar Pradesh Chief Minister Akhilesh Yadav declared Samajwadi Party chief after a big meeting which was termed 'unconstitutional' by his father Mulayam Singh as the two factions now battle over the party symbol; the State Bank of India and two other banks have lowered lending rates which will make loans cheaper; new Army chief Bipin Rawat says while the force's role is to maintain peace at the border, it will not 'shy away from using its muscle, if the need be'; all this and more in our news wrap of the day.
