DAVOS/SWITZERLAND, 28JAN10 - Sir Martin Sorrell, Group Chief Executive, WPP Plc, United Kingdom captured during the session 'Will India Meet Global Expectations?' at the Congress Centre at the Annual Meeting 2010 of the World Economic Forum in Davos, Switzerland, January 28, 2010.

Copyright by World Economic Forum
swiss-image.ch/Photo by Sebastian Derungs

Exit Martin Sorrell

 

2

What is it? The number of BJP ministers whose resignations were accepted by Jammu and Kashmir chief minister Mehbooba Mufti on Sunday.

Why is it important? Chander Parkash Ganga and Choudhary Lal Singh have come under fire for their participation in a rally supporting those arrested in connection with the rape and murder of an eight-year-old girl in Kathua. Besides this case, the ruling BJP has come under criticism for the Unnao case, where a minor girl tried to commit suicide in front of Uttar Pradesh chief minister Yogi Adityanath’s residence after inaction over a complaint where she has alleged that she was raped by BJP MLA Kuldeep Singh Senghar.

Tell me more: The counsel of the family of the Kathua victim plans to move the Supreme Court today, asking the case to be transferred outside the state.

 

35%

What is it? The drop in share price of WPP Plc, the world’s largest advertising and communication services company, in the past 14 months. Since 1995, though, the WPP share has increased 16-fold.

Why is it important? On Saturday, WPP chief executive Martin Sorrell resigned 33 years after founding it. His resignation comes in the wake of an investigation into personal misconduct involving company funds. Sorrell’s departure and the loss in market value could lead to WPP being split to unlock value.

Tell me more: Sorrell, 73, is one of the UK’s highest-earning business leaders, drawing above 200 million pounds in the past five years. As part of his separation package, he is in line to receive 20 million pounds a year for the next five years.

 

Rs 8,000 crore

What is it? The amount by which the non-performing assets of Indian banks is set to increase in the fourth quarter of 2017-18 due to just one account, Gitanjali Gems, as there was no servicing of debt in the last quarter.

Why is it important? In the wake of the Gitanjali Gems case, other banking frauds have come to light, exacerbating the problem of bad loans in the Indian banking system. In the last four financial years alone, public sector banks have written off Rs 2,41,000 crore worth of loans, of which they have recovered just one-tenth.

Tell me more: In 2010-11, a consortium of 21 banks, led by Allahabad Bank, had extended a working capital loan to Gitanjali Gems; in 2014, ICICI Bank became the lead banker, with an exposure of Rs 900 crore.

 

66

What is it? The number of medals (26 gold, 20 silver and 20 bronze) won by India in the 2018 Commonwealth Games, which culminated yesterday.

Why is it important? India finished third this year, after Australia and England, whose gold medal count stood at 80 and 45, respectively. In overall medals, India finished fourth, after Australia (198), England (136) and Canada (82). This is India’s third-best performance at the

Commonwealth Games, after 101 medals in 2010 and 69 medals in 2002. It bettered its count of 64 medals it won in Glasgow four years ago.

Tell me more: There were 218 participants from India this year, of which 103 were women and 115 men.

 

7

What is it? The number of bids received by the Airports Authority of India (AAI) to manage the Ahmedabad and Jaipur airports. Ahmedabad received three bids and Jaipur four.

Why is it important? AAI had invited bids for these two airports last year, but did not receive much interest due to terms and conditions that private players reportedly found onerous. Some terms have since been relaxed. These two airports are being seen as immediate test cases for state-owned AAI to improve traffic and increase private participation at more airports.

Tell me more: The AAI manages 139 airports, and 90% of them are loss-making, though AAI is a profitable entity.

 

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CWG: India’s First Badminton Gold

 

6

What is it? The number of weeks within which the Central government was to set up the Cauvery water management board and monitoring authority, following the Supreme Court’s February 16 judgment.

Why is it important? The top court on Monday pulled up the Centre for not drawing up the scheme to implement its February judgment on the distribution of Cauvery river water among Tamil Nadu, Karnataka, Kerala and Puducherry. This was in response to a contempt petition filed by the Tamil Nadu government, which has accused the Centre of doing little to follow the court’s orders. The Centre is expected to file the Cauvery management scheme by May 3.

Tell me more: Both Tamil Nadu and Karnataka has witnessed protests in recent days and the Centre has been accused of acting in favour of the latter, where state elections will be held next month.

 

14.2%

What is it? ICICI Bank’s core capitalisation in December 2017, among the highest in the banking sector, according to Fitch Ratings

Why is it important? Fitch says though the bank’s core capitalisation and profitability are strong enough for a favourable rating, the recent allegations against the bank involving its chief Chanda Kochhar, her husband’s firms and the Videocon Group could pose reputational risks. It is the first rating agency to express doubts about the accusations of nepotism against ICICI Bank, India’s second largest private lender.

Tell me more: The board of the bank is reportedly divided over whether Kochhar should be asked to step down even as federal authorities are probing the case. The government changed its nominee on the bank’s board on Monday, which it termed as ‘routine’.

 

$2.5 billion

What is it? The total investment India could get if Xiaomi convinces its 50 global suppliers to set shop in India.

Why is it important? This could provide a major fillip to Prime Minister Narendra Modi’s ‘Make in India’ programme. Finnish company HMD Global, which manufactures the Nokia brand of phones, is also making efforts to manufacture its components in India. The Indian government recently imposed a 10% duty on the import of components such as populated printed circuit boards.

Tell me more: Xiaomi recently dethroned Samsung to become the top smarthphone brand in the country. If Xiaomi’s suppliers set up base in the country, they could together create 50,000 jobs.

 

1

What is it? The number of times that India have won the mixed team gold in badminton at the Commonwealth Games, following a 3-1 victory over three-times and defending champions Malaysia yesterday.

Why is it important? The mixed team event in badminton was introduced in the Commonwealth Games in 1998, but India never managed to go all the way. Emphatic singles wins by Kidambi Srikanth and Saina Nehwal scripted yesterday’s win.

Tell me more: At the end of Day 5, India stood third in the medals tally, with a total of 19 medals, including 10 golds. Australia led with 39 golds, followed by England with 22 golds.

 

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