The legendary actress, Sridevi, may have gone from our lives, but she will live in our hearts forever.
What is it? The approximate number of films in which Indian actress Sridevi has featured. She died of a cardiac arrest in Dubai, according to her family. She was 54.
Why is it important? Referred to as India’s first female superstar, Sridevi was among the handful of actors who enjoyed a mass appeal across major regional film industries in India, and was one of the few female actors who could deliver hits without dependence on male actors. Sridevi began her film career at the age of four in a Tamil movie and went on to deliver hits such as Pathinaru Vayathinile and Moondram Pirai in Tamil, and Chandni and Mr India in Hindi. Her rise to the top was also remarkable for happening without any backing or connections in the movie industry.
Tell me more: Sridevi is survived by husband Boney Kapoor, a film producer, and two daughters. The debut film of her elder daughter, Jhanvi Kapoor, is due in July 2018.
What is it? The number of Rajya Sabha seats from 16 states that are due for retirement, in addition to a casual vacancy that will arise due to the resignation of a member from Kerala. The elections to these seats will be held on March 23.
Why is it important? This is likely to significantly alter the composition of nearly a fourth of Rajya Sabha. BJP, which overtook Congress in August 2017 to become the largest political party in the Rajya Sabha, is likely to gain as it is in power in three top states where seats will fall vacant, including 10 from Uttar Pradesh and six each from Bihar and Madhya Pradesh. However, the party reportedly does not have ‘big names’ from UP to fill the seats and it might take a while for it to have a clear majority in the Upper House.
Tell me more: The issue of notification of the polls will happen on March 5, while the last date for filing nominations will be March 12. The counting will take place on the same day as the polling.
What is it? The gain in net worth of Berkshire Hathaway, the Warren Buffett-controlled holding company, during 2017, the results for which were announced on Saturday.
Why is it important? Of this, $29 billion was, in Buffett’s words, “delivered to us in December when Congress rewrote the US Tax Code”, the two main provisions of which were the lowering of the corporate tax rate in the US from 35% to 21% and the deemed repatriation of past earnings on overseas subsidiaries. For Berkshire, the greater cash in hand increases the imperative for further acquisitions, though Buffett insisted it would not make buys for the sake of making buys.
Tell me more: Among Berkshire’s common stock investments, which had a market value of $170 billion as on December 31, 2017, Wells Fargo held the number one spot ($29.2 billion) followed by Apple ($28.2 billion) and Bank of America ($20.6 billion).
Rs 389.85 crore
What is it? The value of the alleged bank loan fraud by a Delhi-based diamond jewellery exporter, according to a complaint filed by the Oriental Bank of Commerce (OBC) with the Central Bureau of Investigation (CBI).
Why is it important? This is the third big banking fraud that has surfaced in the last few days, raising serious questions about processes, risk controls and auditing at Indian banks. The loans taken by Dwarka Das Seth International Pvt Ltd, owned by Sabhya Seth, reportedly turned sour in 2014 but OBC approached the investigating agency only last August and the CBI took over six months to file a case against the accused. The Delhi-based jeweller apparently followed the same modus operandi as jewellery designer Nirav Modi, who has been accused of defrauding Punjab National Bank (PNB) to the tune of Rs 11,400 crore.
Tell me more: The Supreme Court directed the government to set up a three-member committee of experts within two months to scrutinize the regulatory regime for audit firms, in the wake of the PNB case. The committee is expected to submit its report to the apex court in three months.
What is it? The number of titles won by Manchester City under manager Pep Guardiola, who is now in his second year at the club. On Sunday, Manchester City won its maiden title under Guardiola, beating Arsenal 3-0 in the Carabao Cup final.
Why is it important? This win is being heralded as the beginning of a triumphant era for Manchester City. This season, the club is in line for a treble: besides the Carabao Cup, they are a near lock for the Premier League title, leading by 13 points with 11 matches to go, and have one foot in the quarter-finals of the premier competition in Europe.
Tell me more: Guardiola is one of the most decorated coaches of this era, winning big in his last two assignments in Bayern Munich (7 titles in three seasons) and Barcelona (14 titles in four seasons). He was drafted by Manchester City with a larger plan of long-term, global dominance in mind.