40-45 – the number of days of inventory at car dealerships
Inventory levels at car dealerships have increased to 40-45 days although passenger vehicle sales rose 4% in May, Business Standard reported. The corresponding figure in March was 37-39 days and in April 39-41. Maruti Suzuki, India’s largest passenger carmaker, said its inventories rose from 204,000 units on April 1 to 262,000 units on June 1 because “wholesale grew faster than retail.”
51: Hours after which “normalcy” returned after a deadly train accident
On June 4, a train left a section of track in the state of Odisha where, 51 hours earlier, a massive train crash had caused the death of 275 people, Business Today reported. The Indian Ministry of Railways hailed this resumption of services as a sign of the efficiency with which the post-accident situation was handled. Three trains were involved in India’s worst rail accident in 20 years on June 2.
$1.2 billion: the loan on which Byju paid no interest
by ju It has reportedly become the first Indian startup to default on a US dollar loan. The company missed an interest payment of about $40 million on a $1.2 billion loan from US-based Redwood Ventures. Informed Business Standard. Byju also sued Redwood for speeding up the loan and sought his disqualification for using “predatory tactics.”
$202 billion: Pakistan’s debt at the end of April
He government of pakistanChina’s total debt rose 34.1% year-on-year to more than $202 billion at the end of April, the country’s central bank said. Domestic debt amounted to around 62.3% of this, according to the Press Trust of India. Pakistan’s foreign reserves cover just a month of imports, while domestic interest rates have risen to record levels amid record inflation.
$3.1 billion: The Indian government’s infusion into BSNL
Prime Minister Narendra Modi’s cabinet approved a third revival package for Bharat Sanchar Nigam (BSNL), the state-owned telecom operator, spending more than $3.1 billion for 4G and 5G spectrum allocation. BSNL is now expected to launch 4G services and eventually 5G, the indian express reported. The cabinet plans to allocate BSNL to the 700 MHz spectrum band, best suited for high-density areas. This makes BSNL the only company other than Reliance Jio to hold this coveted band.