What is it? The collective stake held by two trusts – Sir Dorabji Tata Trust and Sir Ratan Tata Trust – (both chaired by Ratan Tata) in Tata Sons, the holding company of the $100-billion Tata Group.
Why is it important? These two trusts have the powers to appoint or remove the chairman and it was their decision that led to the sudden sacking of Cyrus Mistry, who was at the helm of the Tata Group for nearly four years. Ratan Tata has taken over the reins of the group temporarily even as a selection committee has been tasked to find a successor in four months. While the reasons for this abrupt decision is unclear, in a statement, the group has said it was on the “recommendation of the principal shareholder (Tata Sons)”.
Tell me more: Of the nine board members, six voted to remove Mistry as chairman while two abstained. He is Pallonji Mistry’s son, who heads Shapoorji and Palonji Group, which owns 18.5% in Tata Sons. The Shapoorji and Palonji Group has said it would contest the move.
Rs 91.46 crore
What is it? The net profit of Idea Cellular, India’s third largest telecom player, in the quarter ended September 30.
Why is it important? This is around 88% lower than that posted in the comparable period a year ago (Rs 757.8 crore). This is an effect of intensifying competition due to Reliance Jio’s entry – Idea Cellular showed a decline in voice minutes and fall in mobile voice and data segment. Along with other incumbents, the company reduced data tariffs by as much as 67% and it spent Rs 12,798 crore in the recently-concluded spectrum auction to retain customers.
Tell me more: The company plans to expand its 4G services to 20 service areas from the current 11 and 3G services to 15 service areas from the present 13 by March 2017.
Why is it important? This is being considered as a step towards equality and justice by the petitioners (who fought against the ban against women’s entry into the sanctum sanctorum) and their supporters though women won’t be allowed to touch the grave as it is that of a man (a saint). This would also help Muslim women in their fight against triple ‘talaaq’ (divorce), according to the petitioners. It remains to be seen the impact of this event on other religious placesthat have gender restrictions.
Tell me more: The Haji Ali trust had challenged the Bombay High Court’s order lifting the ban that restricted women’s entry into the dargah’s sanctum sanctorum. Two women, Zakia Soman and Noorjehan Niaz from a non-governmental organisation called Bharatiya Muslim Mahila Andolan had filed a public interest litigation in the High Court challenging the trust’s restrictions on women.
Rs 35,000-40,000 crore
Why is it important? The project would reduce the cost of domestic and export-import cargo as the movement of the goods via coastal shipping and inland waterways is expected to be 60-80% cheaper than road and rail transport. Under this project, the government aims to increase the share of inland waterways and coastal shipping in the modal mix from 6% to 12%. It is looking to increase coal movement through the coastal route by nearly five times to 129 million tonnes per annum by 2025 and also, reduce the cost of power generation by 50 paise per unit.
Tell me more: In India, logistics cost as a percentage of gross domestic product is 19% (compared to 12.5% in China, 15.72% in Indonesia and 13.43% in the UK), is among the highest in the world.
What is it? The number of Indians aged 18 years and above that suffer from mental health issues, according to the National Mental Health Survey.
Why is it important? Just one of every five of those suffering from mental health issues gets treatment, reflecting the fact that it’s a less-talked about problem and one that has the burden of social stigma attached to it. One in every 20 people in India suffer from depression and one in 40 has dealt with this problem in the past. Substance use disorder was found to be prevalent in 22.4% of the population aged 18 years and above.
Tell me more: The survey, commissioned by the Indian government and implemented/coordinated by the National Institute of Mental Health and Neuro Sciences, covered 34,802 people (18 years and above) in 12 states.