BackNews in Numbers: US has given $33 billion aid to Pakistan in last 15 years
In other news, Indian firms have raised Rs68,826 crore through IPO route in 2017
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Rs68,826 crore
What is it? The total amount raised by Indian firms via the initial public offering (IPO) route in 2017, according to Prime Database.
Why is it important? This is the highest amount raised through this route so far, indicating increased buoyancy in the Indian equity markets. This is likely to continue in 2018: 15 companies have Sebi (Securities and Exchange Board of India) approval to raise Rs12,000 crore; another 10 companies, looking to raise Rs19,000 crore, are awaiting regulatory consent; and more filings are expected in the near future.
Tell me more: According to SBI’s research report Ecowrap, heightened IPO activity could spur credit growth in some sectors—as seen in previous years—even though there is no direct relation between the two.
119.2 million
What is it? The number of shares that Bandhan Bank is looking to offer to the public via its proposed initial public offering (IPO).
Why is it important? On Monday, the bank said it had filed a Draft Red Herring Prospectus (DRHP) with capital market regulator Sebi. Back in June 2015, Bandhan, which was then India’s largest microfinance company, was one of the two entities to receive a banking licence, the other being IDFC. Going public within three years, a statutory requirement, will mark another milestone in Bandhan’s transformation from a giver of small loans to a full-fledged bank.
Tell me more: The proposed Bandhan IPO will consist of a fresh issue of up to 97.6 million shares and an offer for sale of 21.6 million shares. As of 30 September 2017, the Kolkata-headquartered bank had 864 bank branches and 386 ATMs, and current account and savings account deposits of Rs7,170 crore.
6.8%
What is it? The rate at which India’s infrastructure output grew in November from a year ago.
Why is it important? This is the fastest in 13 months, which suggests a possible revival in Indian industrial production. The growth in eight core industries, which account for 40% of industrial production, is likely to boost India’s factory output (as measured by the Index of Industrial Production), which had slowed to a three-month low of 2.2% in October.
Tell me more: The growth in infrastructure output in October was led by double-digit growth in steel and cement. The eight core sectors cumulatively grew 3.9% between April and October of 2017-18, lower than the 4.9% growth in the same period a year ago.
$33 billion
What is it? The total aid the United States has given Pakistan over the last 15 years, according to a tweet by US President Donald Trump on Monday.
Why is it important? In a strongly-worded tweet, which is also his first in 2018, Trump accused Pakistan of harbouring terrorists and said it had given them “nothing but lies and deceit". The US has reportedly withheld $255 million in aid to Pakistan to express its displeasure over the latter’s alleged role in abetting terrorism. This is likely to boost India’s efforts in isolating Pakistan, whom it has blamed for sponsoring terrorism.
Tell me more: Minister of state Jitendra Singh tweeted that the American stance on Pakistan has vindicated India’s stand on terror.
61
What is it? The number of seasons that Vidarbha have played the Ranji Trophy, the premier competition in Indian domestic cricket.
Why is it important? On Monday, playing their first Ranji final, unfancied Vidarbha trounced Delhi by nine wickets to win their first title. Only two teams have taken longer to win their first title: Gujarat (83 seasons) and Uttar Pradesh (72 seasons).
Tell me more: Vidarbha’s win was scripted by a young squad mentored by a team of Ranji veterans, including 39-year-old opening batsman Wasim Jaffer, who won eight titles with Mumbai, coach Chandrakant Pandit and bowling coach Subroto Banerjee.
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