Now, pay for dirtying Ganga 🌊

    Rs 50,000 

    What is it? The penalty that will be imposed for dumping waste into the Ganga river between Haridwar in Uttarakhand and Unnao in Uttar Pradesh, one among a slew of directions passed by the National Green Tribunal (NGT) on Thursday to rejuvenate the water body.

    Why is it important? A pet project of Prime Minister Narendra Modi, the ‘Clean Ganga’ project has progressed slowly with only $205 million spent till now as compared to the total commitment of $3.06 billion till 2020.

    Tell me more: The environment regulator has declared a no-development zone 100 metres from the river’s edge (between Haridwar and Unnao) and dumping of waste within 500 metres from the river has been prohibited.

     

    Rs 5,945

    What is it? The net profit of Tata Consultancy Services (TCS), India’s largest software services exporter, in the first quarter of 2017-18, 5.8% lower on a year-on-year basis.

    Why is it important? This is the 11th consecutive month when the firm has either under-performed or failed to meet analysts’ estimates. A survey of 20 analysts by Bloomberg had estimated TCS’ net profit to be Rs 6,203.5 crore. This is the biggest drop in profits in two years. A stronger rupee impacted TCS’ results even as concerns over US President Donald Trump’s order for a review of a visa program for skilled workers remain.

    Tell me more: The company’s headcount was lesser by 1,414 people to 385,809 at the end of June 2017 compared to the previous quarter – a net decline in its employee strength for the first time since 2010.

     

    80

    What is it? The number of people who have died due to floods and landslides in three north-eastern states – Assam, Manipur and Arunachal Pradesh – so far this season.

    Why is it important? As many as 58 districts have been affected in the three states. In Assam, around 2,500 villages have been submerged and over 17 lakh people have been affected. Many district headquarters in Arunachal Pradesh have been cut off from the rest of the country while its capital Itanagar is cut off from its main connecting road (NH-415).

    Tell me more: Jitendra Singh, the minister for the Development of North Eastern Region said that his team has approached the Ministry of Health to take steps to prevent the outbreak of epidemics and also, with the telecom ministry for the restoration of communication lines.

     

    Rs 10 lakh

    What is it? The money McDonald’s Corp will have to pay Vikram Bakshi, managing director of Connaught Plaza Restaurants, its estranged joint-venture partner for North and East India, according to a National Company Laws Tribunal (NCLT) ruling on Thursday.

    Why is it important? The long-brewing dispute between the JV partners had seen Bakshi being ousted as the chief in 2013. The ruling reinstates Bakshi as the MD, restoring all the powers of an administrator to him.

    Tell me more: The ruling reiterated allegations made by Bakshi, including violation of JV terms and an attempt to buy him out at a low valuation. In the kerfuffle, Connaught Plaza Restaurants recently shut 43 of its restaurants in Delhi, citing failure to renew requisite licences.

     

    Rs 70,000 crore

    What is it? The monthly value of card payments at point-of-sale (PoS) terminals, according to a State Bank of India (SBI) research report.

    Why is it important? The report claims this average (both debit and credit cards) would have taken another three years at 25% growth in card transactions at PoS terminals if not for demonetisation.

    Tell me more: The greater focus on digital payments after demonetisation, which happened in November 2016, was supplemented by the addition of 1.18 million PoS terminals. The lack of PoS terminals had held back card usage earlier.

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