News in Numbers | 2.5 million Galaxy Note 7 devices recalled by Samsung due to faulty batteries
In other news, Telangana carved out 21 districts from the existing 10, creating more but smaller-sized districts
$138 billion
What is it? Stressed loans in Indian banking sector in June 2016
Why is it important? This is about 15% higher than $121 billion in December of 2015, against the expectation that it would have come down thanks to clean up efforts by the banks. This increase indicates that the process would take longer, and the banks will have to raise more capital from the market to boost credit growth.
Tell me more: The previous Reserve Bank governor Raghuram Rajan had taken a tough stance against the bad loans, and had forced the banks to recognize them and clean up their balance sheets. The present RBI governor Urjit Patel recently called for creative approaches to solve the problem, which might include setting up a ‘bad bank’ that would acquire such assets from the banks. Reuters, which reported these numbers, obtained it by filing an RTI (Right to Information) request.
23%
What is it? The percentage of unruly passenger incidents triggered by alcohol/drug intoxication in international flights, according to International Air Transport Association
Why is it important? It’s a major cause of concern in the domestic flights as well. Airlines, including IndiGo, SpiceJet, Jet Airways and GoAir have asked the civil aviation ministry to stop sale of alcohol in airports. However, banning it will get in the way of contracts between airport operators and the airport retailers.
Tell me more: Indian laws don’t allow people under the influence of alcohol to enter the aircraft.
2.5 million
What is it? The number of Galaxy Note 7 devices recalled by Samsung since its launch due to faulty batteries resulting in overheating and explosion. Its replacement devices turned out to be unsafe too.
Why is it important? Samsung has now decided to halt the sales of the device. It’s not clear if the flagship product will be permanently scrapped. With airlines banning the use of Note 7 by passengers, and the problem persisting even with replacement devices there are questions about Samsung’s quality process and if there is even a possibility of re-releasing the phone.
Tell me more: When Samsung first launched the device it was well received by critics and consumers. “This is the best phone Samsung has ever made," a reviewer wrote. However, with the battery issue, Samsung might end up losing marketshare to Apple and others.
31
What is it? Number of districts in Telangana
Why is it important? The state carved out 21 districts from the existing 10, creating more but smaller sized districts. Telangana chief minister said it will help boost development, take government closer to people, and help reduce pilferage of government funds.
Tell me more: The two year old state will have to spend 20,000 crore to build infrastructure - offices and residences for various government agencies and staff, and fill in 12,000 posts due to the change in administrative structure.
48 hours
What is it? The time it takes for a container train to travel between Delhi and Mumbai.
Why is it important? In contrast, it takes 16 hours to maximum 30 hours by passenger trains, underlining the high costs of transporting goods between India’s two major cities. The government hopes to cut this time down through Delhi-Mumbai freight corridor, expected to be completed in the next three years
Tell me more: Logistics cost in India is already among the highest in the world, and is said to hurt India’s trade.
howindialives.com is a search engine for public data
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!