For several years, Muslim women in India have lived in a fear of being instantly divorced by their husbands, as one rule in Muslim law bestows the muslim males with the privilege of doing so. No more. The Lok Sabha passed a bill criminalizing the instant Triple Talaq, and has claused for a 3-year jail term for anybody who seeks instant divorce. It was a historical moment for the muslim women, who saw it is a breather for their future generations.
Elsewhere, in the corporate world, there’s a younger brother seeking help of his elder brother to lighten his debt burden. And some more in news in numbers today. Take a look.
What is it? The number of years after Reliance Industries Ltd (RIL) transferred control of Reliance Communications Ltd (RCom) to Anil Ambani as part of the settlement between feuding brothers. On Friday, Reliance Jio, a subsidiary of RIL, said it would acquire telecom assets of RCom.
Why is it important? This purchase will help Reliance Jio acquire 4G spectrum, 43,000 towers and 178,000 km of fibre optic network. For Anil Ambani group, the deal will help them reduce debt and pay off debtors who were threatening to invoke bankruptcy code.
Tell me more: RCom has total debt of Rs45,000 crore as on October. Both Reliance Jio and RCom did not reveal the deal size.
What is it? The maximum number of years of jail sentence for offenders under The Muslim Women (Protection of Rights on Marriage) Bill 2017.
Why is it important? The bill will make anyone using instant triple talaq, an instant divorce, a criminal offence. Lok Sabha passed the bill with the support of the Congress party. Neighbouring countries like Bangladesh and Pakistan doesn’t permit instant talaq. Offences are punishable with a prison term of upto one year and fine.
Tell me more: Earlier this year, the Supreme Court ruled that triple talaq was unconstitutional by a 3-2 majority ruling.
What is it? The yield of the 10-year bond at the end of trading on Thursday, a 17-month high.
Why is it important? The yield increased by 17.7 basis point (one basis point is one hundredth of a percentage point) on Wednesday, the highest increase in more than 11 months. Yield is inverse of price of bonds, and will increase borrowing cost for government.
Tell me more: Central government’s decision to borrow Rs 50,000 crore extra, and decline in GST collections in November contributed to increase in bond yield, as market feared the fiscal deficit target will be breached.
What is it? The amount of subsidy per Liquefied Petroleum Gas (LPG) cylinder sold to domestic customers.
Why is it important? The subsidy amount has increased by Rs41 in the last three months, as government put on hold a plan to increase the prices by Rs4 every month and also due to higher global price. This would mean higher subsidy bill for the central government.
Tell me more: Fuel subsidy on diesel and petrol were eliminated by increasing the price by small amount every month, and falling crude oil prices also helped to bridge the gap. Now the spurt in international prices has increased the LPG subsidy amount, even as government began to increase the prices by Rs4 every month from June this year.
What is it? The maximum percentage of stake one credit rating agency (CRA) or asset management company (AMC) can have in another CRA or AMC, India’s market regulator said on Thursday.
Why is it important? The move will affect UTI Mutual Fund, as its shareholders – State Bank of India, Life Insurance Corporation of India, Bank of Baroda and Punjab National bank – own 18.5% in UTI MF, and also have their mutual fund subsidiaries. They will have bring down their stake to comply with this new regulation.
Tell me more: The market regulator also allowed creation of universal exchanges, where both equity and commodity can be traded, from October 2018. This will create more competition.