What is it? The numbers of years of lock-in before home loan borrowers can transfer their outstanding amount to another lender. A demand made by mortgage loan lenders to the regulator, National Housing Board.
Why is it important? If accepted, borrowers won’t be able to transfer their loan balance to take advantage of falling interest rates. In the last six months, lending rates has dropped by 120 basis points (one basis point is one-hundredth of a percentage point). Lenders say a lock-in will reduce churn in their portfolio, and better manage their borrowing and lending costs.
Tell me more: Housing loans is estimated at Rs 1,063,225 crore as on March 2015, much higher than total credit outstanding of scheduled commercial banks.
Rs 1.42 trillion
What is it? The direct taxes collected in April-June of 2017-18 financial year.
Why is it important? It is 14.8% more than the net collection last year in the same quarter and is 14.5% of the Rs 9.8 lakh-crore target for direct taxes in 2017-18.
Tell me more: The advance tax collection stood at Rs 58,783 crore in the quarter. It comprised a jump of 40.3% in personal advance tax and a corporate advance tax of 8.1%.
What is it? The Fifa rank of the Indian men’s football team.
Why is it important? The national football team ranked its second-best in the Fifa (Fédération Internationale de Football Association) listing, after 1996’s 94th spot. The team has 341 points and has won 13 of their last 15 matches, remaining unbeaten in the last eight.
Tell me more: The football team had to climb 77 spots from 173rd in March, 2015 to reach here.
1,155 cubic km
What is it? The volume of ice that is set to break away from the Antarctic ice shelf.
Why is it important? This is going to produce one of the largest icebergs in the South Pole. It is one of the alarming fallouts of global warming, ie. rising temperature. The rift in the Larsen C ice shelf is now within 5 km of breaking all the way, and is already 200 km-long.
Tell me more: The iceberg, thus adrift, could pose a hazard for sea traffic. The free-floating ice shelves also prevent ice from land to flow into the sea. But if these break apart then land-based ice could result in raised water levels of the oceans and seas.
Rs 6,000 – Rs 7,000 crore
What is it? The likely amount SBI Life Insurance Co. Ltd is expected to rise from selling 12% equity stake through an initial public offering (IPO). The private insurer got the approval from the insurance regulator recently.
Why is it important? If successful, SBI Life will be the second life insurance company to list the shares in the stock markets. At Rs 7,000 crore for 12% stake, SBI Life’s market capitalization will be around Rs 58,000 crore.
Tell me more: ICICI Prudential, the number one private life insurer, sold Rs 6,057 crore of shares through an IPO, and is currently valued Rs 70,239 crore.