In Ireland, A Win For Women


What is it? The number of constituencies in Ireland, out of 40, where the number of votes to legalise abortion in the country exceeded those against.

Why is it important? On Saturday, in a landmark referendum, the Irish voted—66.4% to 33.6%—to repeal the eighth amendment of its constitution that did not allow abortion since 1983 barring exceptional circumstances. In as many as 30 of the 40 constituencies, votes in favour exceeded 60% of the total votes polled.

Tell me more: The only constituency that didn’t vote in favour was Donegal, where the count was 48.1% in favour and 51.9% against.



What is it? The number of Lok Sabha seats for which bypolls will be held on Monday.

Why is it important? The electoral pitch is rising in the lead up to the next general elections, scheduled for 2019, and an emerging narrative is of the opposition coming together to take on the BJP. Of the four seats, the most-watched is Kairana in Uttar Pradesh, where three key regional parties— RLD, SP and BSP—are fielding a combined candidate against the BJP.

Tell me more: In addition, elections will also take place on Monday for 10 assembly constituencies across nine states.


Rs 35,000 crore

What is it? The amount that 36 companies are looking to raise via the initial public offering (IPO) route in the next few months.

Why is it important? This indicates the continued buoyancy in primary markets in 2018, after last year saw 36 main board IPOs raise Rs 67,147 crore, against 26 companies and 26,494 crore in 2016. Of the companies looking to take the IPO route, most plan to use the proceeds for business expansion and working capital.

Tell me more: Of the 36 companies in queue, 12 have received the market regulator’s approval. There have been 15 IPOs so far this year.


Rs 7,000 crore

What is it? The value of assets of diamond jeweller Nirav Modi the Enforcement Directorate (ED) seeks to immediately confiscate for which it will reportedly move a special court in Mumbai.

Why is it important? The ED plans to make this move, in what is perhaps the first instance, under the recently promulgated Fugitive Economic Offenders Ordinance 2018. The agency, which is empowered to enforce the new law, will seek an official declaration to categorise Modi as a ‘fugitive’ based on the first chargesheet filed by it last week in connection with the $2-billion Punjab National Bank scam involving the diamantaire and his associates.

Tell me more: The ordinance seeks to confiscate the properties of economic offenders who have fled India to avoid facing criminal prosecution. India has recently created a list of 91 people who it plans to prevent from leaving the country for their involvement with companies that have defaulted.



What is it? The number of times the Chennai Super Kings have won the IPL(Indian Premier League).

Why is it important? On Sunday, Chennai won their third title in the world’s richest T20 tournament, decimating the Sunrisers Hyderabad on a Shane Watson blitzkrieg. This brings them level with Mumbai Indians in terms of IPL titles, though Chennai missed the last two seasons less because of suspension.

Tell me more:So far, five teams have won the IPL in its 11-year history. The three teams yet to win are the Delhi Daredevils, Kings XI Punjab and Royal Challengers Bangalore.

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News in numbers, Nov 9, 2015: Grand Alliance parties versus BJP, IPO lapses in 2015 so far…

64,911 versus 59,287

What is it? Average number of votes per seat of the Grand Alliance parties (JD(U), RJD and Congress) versus number of votes per seat of the BJP in the recently concluded Bihar elections.

Why is it important? BJP, which lost the election, stood first in terms of vote share. But that masked the fact it contested more seats compared to JD(U) and RJD. Calculating votes per seat contested reveal the extent of victory margin. Congress, which won 27 seats, has a higher average number of votes per seat than the BJP, which won 53. Also, BJP contested in 157 seats, the maximum for any single party this time.

Tell me more: BJP got 59,287 votes per seat it contested, as compared to 69,262 for RJD and 63,529 for JD(U).


Rs 2.85 lakh crore

What is it? The aggregate non-performing assets (NPAs) or bad loans of 34 of the 39 listed banks in the September quarter that have declared their financial results so far. It has ballooned by 23% since September 2014, and 6% from June this year.

Why is it important? Reveals continued stress in the Indian economy with borrowers not being able to service their loans. Higher NPAs would mean banks have to set aside higher amount to cover the loss.

Tell me more: The central bank in July this year had said that the asset quality of banks is likely to deteriorate before it shows some signs of improvement at the end of the current financial year, though it warned bad loans would increase if the macro-economic situation worsens. Stressed assets (NPAs and loans that are restructured) accounted for 12% of total lending as on March 2015.


Rs 10 lakh per annum

What is it? The income limit of households above which they are likely to be asked to give up their LPG subsidy.

Why is it important? The Indian government has been urging people to give up their LPG subsidy if they can afford to buy cooking gas cylinders at market rates. This is because the government is looking to reduce its oil subsidy bill, which was over Rs 40,000 crore in 2014-15. The voluntary nature of the campaign is likely to partially change, depending on households’ income limit.

Tell me more: So far, around 40.1 lakh consumers have voluntarily surrendered their cooking gas subsidy.



What is it? Number of companies that let their approvals for initial public offerings (IPOs) from the market regulator to lapse in 2015 so far.

Why is it important? The equivalent numbers were as high as 41 and 22 in 2012 and 2013 respectively, though it tempered down to seven in 2014. This shows that the improved market sentiments are encouraging companies to take the plunge even as investor appetite remains healthy.

Tell me more: After four years of near-muted responses to IPOs, Indian companies have raised around Rs 7,500 crore so far this year, which is still way below the total amount raised via this route in 2010 ( Rs 37,535 crore).


Rs 40 crore

What is it? The base price for reverse bid from IPL governing council’s central revenue pool to set up two new teams.

Why is it important? Number of teams to play in the tournament, which is estimated to have a brand value of $3.5 billion, would remain intact for the next two seasons (2016 and 2017). Television rights is one of the major sources of revenue for the teams and without the new additions, earnings from this stream would have been impacted for the other six teams.

Tell me more: The new teams will replace Chennai Super Kings and Rajasthan Royals, which are serving two-year suspension terms for spot fixing and illegal betting. The IPL governing council has omitted Jaipur and Kochi from the list of cities that would bid for new IPL teams. Nine potential franchise venues have been finalised.

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News In Numbers – July 15

News In Numbers: July 15 

Rs 64.3 crore

The amount raised by the Aam Aadmi Party from public donations since 12 December 2013, shortly after the first elections it fought. On Tuesday, a day after party chief and Delhi chief minister Arvind Kejriwal made an emotional pitch for donations as it was close to running out of funds, AAP witnessed a renewal of interest and raised about Rs 12.3 lakh from 909 donors. Since December 2013, the only Indian political party that makes its entire donor list public has contested a national election and a state election, and expanded beyond its roots in Delhi.


Rs 250 crore

Bank of India’s exposure to Essar Steel, which has been classified as a bad loan by the bank’s auditors. If the principal and/or interest component of a loan are not repaid within 90 days of the due date, the bank has to classify it under the bad loans category, which attracts nearly 38 times the provisioning done for standard assets. In this case, the steel company paid its dues a few days after the stipulated period, and most banks treated loans to it as standard, but the auditors of Bank of India had insisted on going by the rulebook, prompting the bank to write to the Reserve Bank of India about this case. The bank posted a loss of Rs 56 crore in the March-end quarter, its first quarterly loss since 2001, mainly on account of higher provisioning and expenses.



Lower oil prices could boost India’s GDP by 0.4-0.6% over the next two years. The agreement struck by Iran and six world powers (US, UK, France, Russia, China and Germany) on Tuesday will see the middle-eastern nation curb its nuclear programme in return for removal of international sanctions. The increase in oil supply from Iran is likely to result in lower crude oil prices, with the pace and quantum depending on how fast it can ramp its oil production. This is good news for India, which meets about 70% of its crude oil requirements through imports.


Rs 350 crore

The potential revenue loss that Chennai Super Kings, the best-performing Indian Premier League franchise on the cricket field, is facing following its suspension, along with Rajasthan Royals, from the league for two years. On the cost side, the approximate value of all players in the CSK team is $15 million (around Rs 95 crore). The brand value of both teams is also expected to erode.



Wholesale inflation fell 2.40% in June, its eighth consecutive month of decline. Yet, this may not prompt the Reserve Bank of India to cut interest rates as retail inflation, the numbers for which were released a day earlier, was at an eighth-month high in June. The one point of convergence in the two rates was food prices. In June, the price basket of food items in the wholesale index rose 1.3%, mainly due to an increase in the prices of pulses, poultry chicken and tea.


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Why Chennai Super Kings has been more successful than other teams

This piece originally appeared on Livemint.com


In a cricketing league programmed to keep change as a constant, Chennai Super Kings has withstood and managed it the best among all teams. That relative stability of its team is one reason why it has had more success than others in the T20 Indian Premier League (IPL).





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