News in Numbers, Mar 16, 2017: Snapped 👓

$2.3 billion

What is it? The amount State Bank of India, the country’s largest bank, plans to raise from capital market in the coming fiscal.

Why is it important? It will help the bank to increase its capital adequacy ratio from  13.73% at present. It will also help in providing for bad loans. State Bank’s gross NPAs (non performing assets, or bad loans) stands at 7.23% of its total loans. Its chairperson Arundhati Bhattacharya recently said that resolution of NPAs is one of the key near term challenges for the bank.

Tell me more: Bad loans is a broader problem in the country, and Indian banks need $90 billion to meet Basel III standards, according to rating agency Fitch.

 

Rs 200

What is it? The maximum a cinema theatre can charge per ticket in Karnataka.

Why is it important? In the neighbouring Tamil Nadu, movie ticket price is capped at Rs 120. It was not the only populist measure that Karnataka, which presented its budget on Wednesday, took from Tamil Nadu. The state will open 198 “Namma Canteens” in the Bengaluru to provide breakfast for Rs 5, and lunch and dinner for Rs 10, similar to the hugely popular Amma Unavagam, state subsidized canteens, in Tamil Nadu.

Tell me more:  The budget – which had a number of announcements aimed at improving infrastructure, access to finance and healthcare – also removed value-added tax on liquor.

 

$24.49 billion

What is it? India’s exports in February 2017.

Why is it important? It’s up 17.49% from same period last year. Imports went up 21.76% to $33.39 billion. The increase in trade comes at a time when there is widespread fear that the world is turning more protectionist, led by United States and Europe.

Tell me more: Trade deficit came down to $8.9 billion in February from a provisional $9.84 billion in January 2017. For the eleven months ending February trade deficit stood at $95.3 billion.

 

14%

What is it? India’s logistics cost as a percentage of GDP.

Why is it important? High logistics cost is an indicator of inefficiency, and erodes competitiveness of a country. Nitin Gadkari, Minister of Shipping, Road Transport & Highways, said the government wants to address it and has unveiled a plan that includes aviation as a part of multi-modal logistics hubs in India. The 400 regional airports that the government is setting up across the country will have cold storage and other logistics solutions to make the sector more efficient, he said.

Tell me more: The government expects 15 logistics parks to be set up in the next five years, as a part of the larger Make in India initiative.

 

$20.77

What is it? Share price of Snap, the company that runs Snapchat, at the close of Wednesday

Why is it important? Snap made its debut in the public market on March 2 at $24, and hit an intra-day high of $29.44 the next day. Its IPO was priced at $17, and its grand debut was seen as a reflection of the high valuation that the companies at the intersection of social, mobile and hardware commanded. However, many analysts believe that it’s over-priced, and see the decline that Snap saw in the four out of last five sessions as a necessary correction.

Tell me more: Snap’s market cap is at $24.06 billion. Unlike Facebook, which has users from across age groups, Snap appeals mainly to an younger audience. It had 161 million daily active users end of December.

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News in Numbers, July 6, 2016: Cabinet reshuffle ahead of state polls, apprenticeship training…

19

What is it? The number of new ministers inducted in the Union Council of Ministers on Tuesday.

Why is it important? With this, the size of the ministry is up to 78, one of the biggest in recent years and a departure from Prime Minister Narendra Modi’s promise of minimum government and maximum governance.

Tell me more: Prakash Javadekar, who was Minister of State (independent charge) for environment, has been elevated to the post of Minister of Human Resource Development. The entire list of reassigned portfolios can be viewed here. While the Cabinet reshuffle has been likely on the basis of individual performance of the Union Ministers, it is happening ahead of state polls in Uttar Pradesh, Gujarat, Punjab and Uttarakhand.

Rs 550 crore

What is it? The amount raised by online movie ticketing company Bigtree Entertainment, which runs the BookMyShow website, in its fourth round of funding.

Why is it important? This comes at a time when startups are struggling to raise funds and investors have become cautious in letting their purse strings loose. The amount would be used to invest in big data analytics, expand in international markets such as Sri Lanka and enhance consumer experience for increased engagement.

Tell me more: This round of funding is more than double of the total amount the company has raised in the last six years and has increased its valuation to Rs 3,000 crore. The funding was led by US-based Stripes Group and existing investors including Network 18, Accel Partners and SAIF Partners.

 

$90 billion

What is it? The amount Indian banks need to meet Basel III norms to be implemented by March 2019, according to rating agency Fitch. Basel III accord mandates stricter capital adequacy and buffer norms for banks.

Why is it important? The burden is mostly on public sector banks, which would account for 80% of the requirement. However, the government is committed to invest only $7 billion in government-owned banks by 2018-19. The earnings are also likely to be weak due to muted credit growth and high credit costs.

Tell me more: The rating agency has downgraded its outlook for the Indian banking sector to ‘negative’ from ‘stable’.

 

80,000

What is it? The number of people affected due to floods in Assam. Another report puts the figure at around 88,000.

Why is it important? The floods are an annual occurrence in the state, mainly brought on by haphazard growth due to encroachment of water bodies and hills, and a poor solid waste disposal system. This comes nearly a week after Guwahati became the first Indian city to have undertaken a major mock drill for tackling floods in an urban setting. Over 6,000 hectares of crop have been destroyed in seven districts and flood waters have entered the Pobitora Wildlife Sanctuary – the world’s most dense habitat of one-horned rhinos.

Tell me more: The Lakhimpur district is the most affected with around 68,000 people hit as on July 4. The other most affected districts are Dhemaji, Nagaon and Jorhat. The Brahmaputra river is said to be above the danger levels in Jorhat and Tezpur.

 

Rs 10,000 crore

What is it? The budget approved by the Union Cabinet for providing apprenticeship training to over 5 million youngsters in the next four years to create more jobs.

Why is it important? This is the biggest outlay for skill development in the country in the last seven years and the first time a scheme offers financial incentives to employers to take up apprenticeship training. This is likely to help the government in its Skill India mission, where it has to impart skill development training to 40 crore people by 2022.

Tell me more: Job creation has not been a bright spot in the last couple of years. Eight key manufacturing and export-oriented sectors created 421,000 jobs in 2014 while that figure was less than 200,000 last year.

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