What is it? The repo rate, or the rate at which the central bank lends money to commercial banks. In its first bi-monthly monetary policy meeting for 2018-19 on Thursday, the Reserve Bank of India (RBI) held this rate at this level.
Why is it important? The decision, which was widely expected, comes against the backdrop of moderate inflation even as the central bank maintains a neutral stance of monetary policy. It reduced its estimates for inflation for 2018-19. The central bank’s monetary policy committee, however, warned that the upside risks to inflation have increased due to strengthening aggregate demand, fiscal slippage and rising global crude oil prices.
Tell me more: The RBI switched back to the GDP way, which reflects economic growth from the consumers’ perspective or demand, from the GVA (gross value added) that measures it from the producers’ or supply side, to conform to international practices.
What is it? The gain in the share price of InterGlobe Aviation, which operates leading domestic airline IndiGo, on Thursday in a broad market that rose 1.8%.
Why is it important? Yesterday, IndiGo released a statement saying it would not bid for state-run Air India under the current sale terms. IndiGo said it was primarily interested in Air India’s international operations and would not be able to absorb the entire domestic piece of Air India. IndiGo’s withdrawal is a setback to Air India’s sale, as it was one of the better-placed airlines to take on this task.
Tell me more: The last date for submission of expression of interest for Air India is May 14 and the government hopes to announce the winning bid by May 28.
What is it? The number of years for which Hindi movie actor Salman Khan has been sent to prison after he was found guilty of violating wildlife laws by killing two blackbucks, an endangered species of antelope, in 1998, by a court in Rajasthan.
Why is it important? This is the fourth case related to poaching animals (in 1998) against the actor, of which he was acquitted in the first three. The popular actor with many box-office hits has had several brushes with the law. Last year, he was acquitted in a case related to the use of illegal arms to kill blackbucks and in a 2002 hit-and-run case where a homeless man lost his life.
Tell me more: Others accused in the poaching case, including actors Saif Ali Khan, Tabu, Neelam and Sonali Bendre, have been acquitted. Khan will reportedly appeal against the sentence and has already submitted a plea for bail.
Rs 6,138.1 crore
What is it? The bid amount, a record, for which Star India won the worldwide rights for television and digital broadcast of international and domestic cricket matches in India for the next five years.
Why is it important? With this, the fully-owned subsidiary of 21st Century Fox, has a virtual monopoly in the cricket broadcasting space after having clinched the IPL rights for Rs 16,347 crore for the period 2018 to 2022 last September. It also jointly owns the audio-visual broadcast rights with Star Middle East for ICC tournaments for the period 2015 to 2023.
Tell me more: The average cost per match of the Indian cricket media rights awarded on Thursday is around Rs 60 crore, higher than the average cost per IPL game (2018-22) of Rs 54.5 crore.
What is it? The number of shots over par that Indian golfer Shubhankar Sharma posted in the first round at the US Masters in Augusta, the first golf major of 2018, including
Why is it important? The 21-year-old Sharma is a special invitee to this year’s edition of golf’s blue riband event, an invitation that was extended to him after a series of notable performances earlier in the year. Sharma, ranked 72 in the world, was placed 73 at the end of round 1 and is in danger of missing the halfway cut.