News in Numbers – September 4, 2015

News In Numbers: September 4, 2015

 

Rs 20,000 crore

The one-time impact on profitability of banks in 2016-17 if the Reserve Bank of India’s (RBI) draft guidelines on computation of base rate are implemented in their present form, according to ratings agency Crisil. This would be about 15% of their collective estimated profits in the next fiscal. The central bank on Tuesday invited comments on these guidelines. Currently, banks use different methods to compute their base rate and the one suggested by RBI “should be more sensitive to changes in policy rates”. However, Crisil says this would create an adverse impact as banks would be reluctant to cut deposit rates given its impact on their profitability. Banks are already battling rising bad loans, which is affecting their profitability.

 

$7.94 billion

Mumbai’s economic output at risk in the event of a terrorist attack between 2015 and 2025, according to Lloyd’s, the world’s oldest active insurance marketplace. In the terrorism context, Mumbai ranks number one among 301 cities, with 16.8% of its GDP (gross domestic product) at risk. The Lloyd’s City Rank Index says 10 Indian cities, including Ahmedabad, Bengaluru, Chennai, Delhi and Mumbai, are the top ones in terms of GDP at risk. In terms of overall threats (besides terrorism, volcano, nuclear accident, market crash, etc), the three cities with maximum economic output at risk are Taipei, Tokyo and Seoul, and none of the Indian cities figure in the top 20.

 

721

The number of state quota seats illegally filled between 2009 and 2013 in private medical and dental colleges in Madhya Pradesh, according to the state government. Known as the DMAT scam, it came to light when a whistleblower filed a complaint with the Central Bureau of Investigation (CBI). The DMAT exam is conducted by the Association for Private Medical and Dental Colleges (APDMC) to fill 58% of around 2,800 seats in 15 private dental colleges and six private medical colleges. The rest are filled under the state quota, through Vyapam. The whistleblower alleged that almost all admissions under the management and NRI quota are rigged. The CBI recently told the Supreme Court that the DMAT scam looks bigger than the Vyapam scam “in its scope and depth”.

 

Rs 300 crore

Tata Sons, the holding company of the Tata Group, has moved the Supreme Court challenging the sales tax demand of Rs 300 crore made by the Maharashtra government on the royalty it earns from its subsidiaries for using the ‘Tata’ brand name. In January, the Bombay High Court had ruled in favour of the Maharashtra government. The Tata Group had argued that the right to use the trademark was not exclusive and conditional, and therefore, should not come under the provisions of the ‘Transfer of Right to use any Goods for any Purpose Act, 1985’. Tata Sons earned over Rs 400 crore in royalty in 2014-15. According to Brand Finance, the Tata Group ranked 65 globally in terms of brand value in 2015 and was valued at $15.4 billion.

 

August 28

The air quality in Delhi has been in the ‘poor’ zone since August 28, almost a month earlier than usual. Typically, air quality drops gradually at the onset of winter and reaches its peak in January, when cold air and fog trap more pollutants. This year, due to the receding of rainfall a month earlier, PM2.5 (fine particulate matter) which is an air pollutant causing serious health problems, had started rising since August 26. In 2013, when rainfall was normal, the air quality was better in the corresponding period. The forecast for the next three days in Delhi shows ‘poor’ air quality, while Mumbai and Pune fare better with ‘good’ air quality predictions. Recently, the World Health Organization named Delhi as the worst of 1,600 cities globally in terms of PM2.5 particles.

 

 

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News In Numbers – August 21

News In Numbers: August 20

 

24

The number of additional days banks in India will be closed, beginning September 1. The government yesterday issued a notification, announcing that banks would remain closed on second and fourth Saturdays as against the current norm of working half-day. This February, the Indian Banks’ Association signed a pact with bank unions agreeing to increase employee wages by 15% and increasing the number of holidays by two every month. With this, the number of holidays in a year for bank employees will almost double (excluding Sundays), considering that banks have 25 public holidays in 2015.

 

1.85%

Low-cost airline SpiceJet on Thursday announced an offer of sale of 1 lakh tickets at rates ranging between Rs 799-2,699 one way, excluding taxes, for travel dates between 25 August 2015 to 26 March 2016. This is just 1.85% of the total passengers the airline carried between September 2014 and March 2015. After the airline changed hands and Ajay Singh returned to take over, it returned to profitability after seven quarters and recorded a net profit of Rs 22.5 crore in the fourth quarter of 2014-15. This February, the airline had put on offer 4 lakh tickets in a sale it called ‘cheaper than train fares’.

 

72.9%

The share of public sector banks in aggregate deposits as on March 31, 2015. With the Reserve Bank of India (RBI) giving an in-principle approval to 11 entities for payment banks, there could be a case of these affecting the small and medium public sector banks, especially in terms of deposits. Overall, during 2014-15, banks have showed a decline in both deposit and credit growth. For instance, India Post, which is one of the 11 entities that can set up a payment bank, has 139,000 post offices, which is more than three times the number of bank branches in rural areas. Payment banks could offer deposit rates of 6-7% to attract customers, against the average of 4% that public sector banks offer, according to a report by Ambit Capital.

 

59

The number of companies the market regulator has barred from accessing capital markets for misusing stock options to allegedly evade taxes. The Securities and Exchange Board of India (Sebi) is yet to find out the exact reason for the misuse of stock options and has referred this case to the income tax department, Financial Intelligence Unit and the Enforcement Directorate to further investigate the matter and take appropriate action. In the last few months, there have been quite a few instances of companies getting barred from the capital markets or being suspended from trading. For example, this February, Sebi suspended trading in Kamalakshi Finance Corporation, and imposed trading restrictions on 33 entities for making undue gains of Rs 1,800 crore.

 

Rs 80

Wholesale prices of onions touched a two-year high at Rs 4,900 a quintal (100 kg) in Lasalgaon, Nashik (Maharashtra), India’s largest bulb wholesale market. It jumped by 8.9% in just a day. According to the National Horticultural Research and Development Foundation’s director, prices have increased mainly due to a decline in supplies: harvesting has been delayed and there might be a fall in production of kharif onion. A few months ago, India had a stock of about 40 lakh MT, which has since reduced to about 16-18 lakh MT, mainly due to consumption and storage loss. Retail prices of onions are currently in the range of Rs 50-60 per kg in many parts of the country and have hit Rs 80 in the national capital.

 

 

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