News in Numbers: 36 killed in Istanbul terrorist attack, 37% of India received scanty rainfall…

8.5%

What is it? The likely percentage of bad loans in Indian banks by March 2017 from 7.6% in March 2016, according to a Reserve Bank of India report.

Why is it important? Indicates that the problem will get worse before it gets better. RBI says bad loans – or non performing assets – will shoot up to 9.3% under a severe stress situation. As a result, banks will have to raise more capital, and if they cannot, their lending will go down. Credit has already slowed down in April and May.

Tell me more: However, the central bank has noted that the severe adverse economic conditions referred to in the report should not be considered as forecast or expected outcomes.

 

3,038

What is it? The number of requests India has sent to other countries seeking information about suspicious banking transactions of Indians abroad in 2014-15 and 2015-16.

Why is it important? The number of such requests have gone up substantially from the previous years: 700 in 2013-14, 600 in 2012-13 and ranging between 39 and 92 between 2008-09 and 2010-11. Many of these requests are related to investigations of various scams including the HSBC Geneva case though these also include individuals and entities suspected for hoarding money abroad.

Tell me more: The Indian government has given time till September 30 for people holding unaccounted wealth to come clean and pay their taxes. India has signed an information-exchange agreement with the US and 110 tax jurisdictions have agreed to share information under this pact. As part of another agreement, 58 jurisdictions including India have agreed to share information from 2017 and another 36 countries would join in by 2018.

 

36

What is it? The number of people killed in a terrorist attack at Istanbul Ataturk Airport on Tuesday. At least 147 people have been wounded.

Why is it important? The Turkish Prime Minister says ISIS is behind the attack in the 11th busiest airport in terms of passenger traffic. ISIS, which was responsible for nearly a fifth of people killed in terrorist attacks in 2014, is the second most dangerous terrorist organization after Boko Haram (in terms of number of people killed), according to a report. Shows the growing influence of ISIS and their ability to breach security protocols.

Tell me more: Three suicide bombers attacked passengers with bombs and guns and according to preliminary findings, they blew themselves up after opening fire.

 

11.2%

What is it? The penalty developers may have to pay buyers in case of delay in handing over homes and apartments, according to the government’s recently announced draft real estate rules.

Why is it important? This is around 1.25-1.85% higher than the home loan rates, providing protection to home buyers. The average middle class home buyers usually avoid lengthy court cases when their homes are handed over to them late, sometimes bearing their monthly rental costs of their current residence in addition to paying EMIs of their new properties.

Tell me more: The Real Estate Regulatory Authority would be set up in states and union territories within three months of the rules being notified. The draft rules are open for public comments and suggestions until July 8.

 

34%

What is it? The percentage of India that received scanty or deficient rainfall in June as of Tuesday.

Why is it important? Though over half of the country has received normal rainfall this month, some of the drought-hit regions including Vidarbha face a rainfall deficit. The pulse-growing regions have received uneven rains, which could have an upward effect on prices of pulses, which have already been ruling high in the recent weeks. The sowing of kharif has been lower by 23% so far, according to data released last week while water levels at India’s 91 major reservoirs have fallen to 15% of their combined installed capacity.

Tell me more: The southern and north-western states have received rainfall 16% and 2% above average, respectively, while in central India and east and north-east India, there has been a deficit of 23% and 26%, respectively.

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News in numbers, Jan 12, 2016: India’s spend to curb road accidents, CAT 2015’s toppers…

 

10%

 

What is it? The maximum a mutual funds can allot from its net assets to debt issued by a single company, according to new rules introduced by the market regulator. It was 15% earlier.

 

Why is it important? Mutual funds will have to expand the pool of companies to invest in. The new rule was introduced when investment by an Indian unit of JP Morgan in debt by Amtek Auto turned bad after credit rating agencies downgraded the auto parts maker. A JP Morgan fund held 20% in Amtek Auto’s debt. These restrictions would force mutual funds to invest in companies, which they would not have previously considered and this could prove to be riskier, according to Murthy Nagarajan, head of fixed income at Quantum Asset Management.

 

Tell me more: Mutual funds can now hold up to 20% of their net assets in companies belonging to the same corporate group while exposure to a single sector is now limited to 25% of their net assets.

 

Rs 11,000 crore

 

What is it? The amount Indian government plans to spend over the next five years to curb road accidents in the country, mainly by fixing 700 odd accident prone locations.

 

Why is it important? This is part of the national plan to reduce number of deaths due to road accidents by half in the next five years. On an average, 51 people road accidents took place every one hour in 2014 wherein 16 were killed, as per data from the National Crime Records Bureau. A total of 4.5 lakh road accidents were recorded in 2014, leaving 4.8 lakh people injured and causing the deaths of 1.41 lakh people. And, according to Nitin Gadkari, Union Minister of Road, Transport and Highways, road accidents cause an annual loss of Rs 55,000-60,000 crore, about 3% of India’s GDP.

 

Tell me more: The government has already started working on 10 black spots, or accident prone areas (such as Sarai Kale Khan and Shahdara Flyover) in Delhi.

 

172,671

 

What is it? The number of cars sold in December in India.

 

Why is it important? The highest number of cars sold in a December season. December is considered a slow month for car sales as buyers tend to postpone purchase during the new year – for sentimental and resale price reasons. However this December, discounts and  lower loan rates – average loan rates of nationalised banks are down to 10.2% from 11.1% in December 2014 – seem to have worked.

 

Tell me more: However, two-wheeler sales declined by 3.1% in December, reflecting poor demand, according to Vishnu Mathur, director general of the Society of Indian Automobile Manufacturers (SIAM). The overall industry sales including passenger vehicles, three-wheelers, buses, trucks and two-wheelers fell by 0.17%.

 

17

 

What is it? The number of students in the 100th percentile in the Common Admission Test (CAT), the entrance examination for business schools including the prestigious IIMs (Indian Institutes of Management) in 2015.

 

Why is it important? All the 17 toppers have an engineering degree, underscoring the importance of quantitative skills in MBA entrance exam. Around 75-90% of students at the IIMs are from engineering backgrounds. Recently the test format was changed to include descriptive questions to appeal to students with non-engineering backgrounds, besides conducting tests in more centres/cities to attract a broader set of candidates. The impact of these changes are yet to be known.

 

Tell me more: Of the top 17 students, one is a woman. A total of 1.8 lakh students took the test, of which nearly a third were women.

 

5.6%

 

What is it? Likely increase in consumer prices in December from a year ago period, according to a Reuters poll of economists.

 

Why is it important? This is higher than November’s consumer inflation at 5.41%, which was the highest in 14 months. If this happens, this would be the fifth consecutive increase on a monthly basis. A deficient rainfall in 2015 and poor crop output has led to the increase in food prices, especially those of pulses, which increased 46% in November compared to a year ago. This is likely to prevent the Reserve Bank of India from effecting any downward revision of interest rates. It also increases the central bank’s challenges of keeping retail inflation under 6% this month and 5% by March 2017.

 

Tell me more: India has revised its economic growth target to 7% from 7.5% due to low farm production and declining exports.

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