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Business News/ Politics / Policy/  News in numbers | 2.18 lakh students to appear for CAT 2015
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News in numbers | 2.18 lakh students to appear for CAT 2015

SBI cut its base rate, hours after the RBI reduced its policy repurchase rate by 50 basis points

2.18 lakh candidates have registered for Common Admission Test 2015 to gain entry into various management schools, including the Indian Institute of Management. Photo: HTPremium
2.18 lakh candidates have registered for Common Admission Test 2015 to gain entry into various management schools, including the Indian Institute of Management. Photo: HT

40 basis points

What is it? The basis points (the digits that follow a decimal in, say, interest rate) by which State Bank of India (SBI) cut its base rate, hours after the Reserve Bank of India (RBI) cut the rate at which it lends to banks by 50 basis points.

Why is it important? The effectiveness of a monetary policy is measured by how quickly banks respond to a cut in interest rate by the central bank. With SBI, India’s largest commercial bank, cutting the base rate, the benchmark rate for lending, other banks too are likely to do the same.

Tell me more: Lower base rate is good news for borrowers because it can mean lower monthly repayments. But savers will lose out as the state-run bank has also cut the savings rate by 25 basis points.

$672 million

What is it? The penalty amount the commercial arm of Indian Space Research Organization (Isro) has to pay Devas Multimedia for cancelling the contract four years back.

Why is it important? Many companies have approached or threatened to approach international arbitration courts to claim damages or penalties from the government. This decision by the London-based International Court of Arbitration will open the gates for more such arbitration proceedings against the Indian government.

Tell me more: The decision will have to be enforced by a local court. The Delhi High Court’s ruling and the government’s stand will be watched closely. As per the original agreement, Devas would lease spectrum from satellites launched by Isro and would pay $300 million for 12 years.

750 points

What is it? The minimum credit score of more than 90% of educational loans disbursed.

Why is it important? Credit scores range from 300-900. Insistence on higher credit score could be because of higher default rates (around 8%) experienced by banks in their educational loan portfolio. This will be bad news for poor students who wouldn’t have high credit score or credit history, and are planning to avail educational loan without collateral.

Tell me more: Higher credit score is also leading to a bigger loan size. In January-March 2015, the average loan was 6 lakh as compared to 4.5 lakh in the year-ago period.

42

What is it? The number of Indian channels blocked by cable operators in Nepal to protest against what they claim as unofficial trade blockade by India.

Why is it important? Nepal, a landlocked country, depends on supplies from India to meet even its basic consumption needs like sugar and salt. With trucks not able to deliver their goods, Nepal is experiencing shortage of fuel and essential commodities. China Southern Airlines has even cancelled flights from Nepal because of fuel shortage.

Tell me more: Protests erupted in southern Nepal after the new constitution was adopted. The protests were against divisions of regions under the new constitution and India claims the protesters blocking the roads was the main reason for not being able to deliver goods.

2.18 lakh

What is it? The number of students appearing for Common Admission Test 2015 to gain entry into various management schools, including the Indian Institute of Management.

Why is it important? The number is the highest in six years, though far below 2.76 lakh registrations in 2008. Higher applicants could also be an indicator of students feeling confident of getting placed.

Tell me more: A large number of applicants don’t even take the test after paying the fees. Last year, around 21,000 out of 1.89 lakh candidates did not turn up for the test.

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Published: 30 Sep 2015, 10:46 AM IST
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