Flipkart’s Suitors

Rs 1,250 crore

What is it? The amount Hero Enterprise Investment Office and the Burman Family (promoters of Dabur) have offered to jointly invest in Fortis Healthcare.

Why is it important? This comes after the company reportedly received a potential bid of $1.3 billion from IHH Healthcare Bhd., opening a possible takeover battle for India’s second largest hospital chain. Asia’s largest hospital operator offered to pay Rs 160 per share. A day ago, Fortis Healthcare received a revised offer from Manipal Health Enterprises, of Rs 155 per share.

Tell me more: The firms backed by the Munjal and Burman families have offered to invest in Fortis through the preferential allotment route: Rs 500 crore binding upfront and the balance after due diligence within three weeks.


What is it? The number of months within which (by end of June) Walmart is reportedly likely to reach a deal to buy a majority stake in Flipkart.

Why is it important? If the deal goes through, it would be the US retail giant’s biggest acquisition of an online business, opening a new front in its fight with Amazon, vying for a bigger share in India’s e-commerce market. Amazon, the world’s largest e-commerce firm, is also reportedly considering to acquire Flipkart in a deal that would value the latter at $18-20 billion, though any potential deal between the two is likely to face intense scrutiny from India’s competition watchdog.

Tell me more: Walmart is said to have completed its due diligence on Flipkart and has proposed to buy 51% stake or more for $10-12 billion.


What is it? The number of large corporate accounts that were referred by the central bank for immediate bankruptcy proceedings under the Insolvency and Bankruptcy Code 10 months ago and which are now in the final stages of resolution (out of 12).

Why is it important? Together, these borrowers account for a quarter of the banking system’s gross bad loans and timely resolution of these accounts would ease the pressure on lenders, allowing them to reduce their provisioning. Of the five accounts, two are facing litigations, while the committee of creditors in the other three cases have approved the winning bids.

Tell me more: Under the Insolvency and Bankruptcy Code, a corporate insolvency resolution process must be completed within 270 days of the admission of a case. The deadline for eight of the 12 cases would expire by the end of this month.


What is it? The number of months that Matthias Mueller remained at the helm of automaker Volkswagen.

Why is it important? On Thursday, Volkswagen replaced Mueller with brand chief Herbert Diess. Mueller was appointed CEO in September 2015, when the company admitted to tampering with its engines for better emission readings, a scandal that resulted in the company coughing up $30 billion in fines. The new appointment, in a sense, turns that page, and shifts the company’s focus from protecting reputation to reorganising business.

Tell me more: Under Mueller’s watch, weighed down by the corporate scandal, the company’s share price has never really broken out.


What is it? The world ranking in men’s singles of Indian badminton player Kidambi Srikanth.

Why is it important? The 25-year-old Srikanth is the first Indian male to sit atop the badminton world rankings. His ascent comes on the back of a strong rise in the last 12 months, rising from 31 in March 2017. Srikanth, who made his international debut in 2008, has career earnings of $396,978.

Tell me more: Only one other Indian player has reached the top spot in singles badminton: Saina Nehwal in 2015. Her career earnings stand at $746,548.

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Of bad loans and insolvency



What is it? The projected growth rate of the Indian economy in current financial year 2017-18, according to International Monetary Fund (IMF).

Why is it important? This represents reversal in growth slowdown following demonetisation introduced in November- December last year. World’s sixth largest economy grew at 8% in 2015-16, before slowing down to 7.1% in 2016-17. IMF has attributed growth revival to revision in national income accounting and government spending.

Tell me more: Global economy is expected to grow at 3.5% this year, as compared to 3.2% in 2016.





What is it? The gross non-performing assets of HDFC Bank, India’s largest private sector bank in market capitalisation, for the three months ended June 2017.

Why is it important? This is the highest in seven years, and bad loans increased by 23% in one quarter. And 60% of the increase was from farm loans portfolio. Slew of farm loan waivers announced by state governments like Uttar Pradesh and Maharashtra is likely to impact farm loan repayment, and increase bad loans for banks.

Tell me more: Banks have disclosed weakening of microfinance asset quality following demonetisation during January- March 2017. HDFC Bank says microfinance loans have not deteriorated further.





What is it? The number of applications filed by debtors to declare insolvency.

Why is it important? This is more than a third of cases approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 in the last one year. It also shows companies are seeing insolvency proceedings as a chance to reset their business in a time bound manner.

Tell me more: Under the new bankruptcy code, cases have to be resolved within 6 months, with an extension for another 3 months. Alternatively, NCLT appoints an interim administrator who will try to sell the assets of the company to a new owner within 18 months.



770 mm


What is it? Rainfall received at Mount Abu, a hill station in Rajasthan, in 24 hours.

Why is it important? This is the highest ever rainfall received by Mount Abu ever since rainfall data was collected. Extreme rainfall events like these in a desert state is attributed to increase in temperature and its impact on monsoon.

Tell me more: Mumbai received 944 mm of rainfall in July 26, 2005 that killed 1,094 people. In 2015, Chennai and two adjoining districts received 1,049 mm of rainfall.





What is it? The number of protected monuments that have disappeared due to encroachment.

Why is it important? Shows laxity in protecting the historical monuments. Archaeological Survey of India is empowered to issue show cause notice to encroachers, and can also direct district authorities to remove encroachments.

Tell me more: 11 out of 24 lost monuments were from Uttar Pradesh. Government has spent Rs 301.7 crore in protecting monuments in 2016-17.

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Stress weighs banks down

Rs 1,000 – Rs 4,000 crore

What is it? The range of stressed assets for which state-run banks will restructure the debt into equity. For corporate bad loans above Rs 5,000 crore, companies will be referred to National Company Law Board to recover money under the insolvency and bankruptcy code.

Why is it important? Evolving a rule-based approach to deal with India’s Rs 10 trillion stressed assets problem could help in faster decision making, as bankers will feel secure that their decisions will not be scrutinised later by investigating agencies.

Tell me more: Restructuring debt into equity has not been successful, as lenders are not able to find buyers. If restructured loan is not sold within 18 months, banks will have to consider the exposure as bad debt.


1 million

What is it? The number of subscribers of the Employees Provident Fund Office (EPFO) who can avail home loan from the Housing and Urban Development Corp. Ltd (HUDCO) by using their retirement corpus lying with EPFO over the next two years.

Why is it important? This access to EPFO database will help HUDCO to better evaluate creditworthiness of borrowers as contribution and employment records are available with the retirement fund manager. For provident fund subscribers, they could use 90% of their corpus towards down payment or paying monthly installments.

Tell me more: Under the Pradhan Mantri Awas Yojana, borrowers with monthly family income upto Rs 12 lakh can avail maximum interest subsidy of 6.5% to buy houses.


> 10,000 people

What is it? The number of lives saved by Red Cross volunteers who safely buried Ebola victims in West Africa in 2014-15.

Why is it important? Community burials, when relations washed the body of Ebola victims, infected large number of people. A study estimates two people developed Ebola for every unsafe community burial. 11,310 people out of 28,000 people infected with Ebola died during 2014-15.

Tell me more: 1,500 Red Cross volunteers managed 50% of all burials during the outbreak.


3 million

What is it? The number of students studying in state-run schools whose learning outcome will be monitored through an annual government survey.

Why is it important? This will help monitor progress of students on regular basis as the current National Achievement Survey done by the National Council for Education Research and Training is done once in three years with a sample size of 200,000.

Tell me more: Only 28% of standard III children could do a 2-digit subtraction, and 43% can read standard I text, as per the survey conducted by Annual Status of Education.


Rs 16 lakh

What is it? Amount paid by a company to buy the registration number, ‘0001’ in Delhi.

Why is it important? A potential revenue source for transport departments to tap the craze to buy fancy vehicle registration numbers. The success was also because the Delhi auction was conducted online with no manual intervention.

Tell me more: So far, Delhi’s transport department has earned Rs 1.83 crore by auctioning ‘0001’ of different series between 2014 and 2017.

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