CAG raps GSPC for mismanagement, investment in KG block

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yash Malani, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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Oil and gas exploration, especially in deepwater, is a risky business that requires highly advanced technology which, in turn, requires huge funding. Those hoping to strike riches without equipping themselves with the appropriate technology and adequate expertise will almost certainly come to grief, as the Gujarat State Petroleum Corporation (GSPC) has.

Considering future prospects, the state-owned company has spent Rs. 19,576 crore over the last five years in the Krishna-Godavari Basin (KG Basin) with nothing to show for it in terms of either oil or gas output. A report of the Comptroller and Auditor-General of India (CAG) points out that the project was not properly planned, thereby leading to both cost and time overruns.

In 2005, Gujarat Chief Minister Narendra Modi had declared that the block had reserves of more than 20 trillion cubic feet (tcf) of gas, which was even more than 14 tcf of neighbouring block of Reliance Industries. The block was named as Deendayal block after Pandit Deendayal Upadhyaya.

It is clear that GSPC’s and Reliance’s reserves were highly overestimated. From an estimated output of 80 million scmd (standard cubic meters per day) of gas at its peak, Reliance’s production is now in the low single digits. The upstream regulator, the Directorate General of Hydrocarbons (DGH) has marked down GSPC reserves to 1.8 tcf after scrutinising field data from old estimate of 20 tcf.

CAG, in its report, painted a gloomy picture of GSPC’s finances, as its borrowing stood at Rs 19,716 crore as of March 31, 2015, which was 177% higher than Rs 7,126.67 crore as of March 31, 2011.

Even the biggest and best oil companies make miscalculations while exploring frontier basins; such failures go with the territory — they occur despite the deployment of the latest technologies, often because oil and gas reservoirs are formed in complex depositional environments. The GSPC’s big mistake was not overestimation, but the somewhat unrealistic assumption that it could develop the highly complex deepwater field on its own.

Given the difficult nature of the high-temperature and high-pressure KG Basin field, GSPC should have roped in a technology partner, as Reliance did with BP. The company could have even considered collaborating with other PSUs such as ONGC or Oil India. GSPC is probably also guilty of not correcting the course after seeing that Reliance ran into technical problems in the same deepwater field despite accessing cutting-edge technology and global expertise. The urge to strike out independently despite a clear lack of technical expertise in a business fraught with risks has proved costly indeed for the company and for the taxpayer.

Reference:

http://www.business-standard.com/article/pti-stories/cag-raps-gspc-for-mismanagement-investment-in-kg-block-116040200708_1.html

http://www.thehindu.com/opinion/editorial/out-of-depth/article8429673.ece

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Mukesh Ambani led Reliance Industries moves into fashion and lifestyle e-commerce

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yash Malani, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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Reliance Retail, a subsidiary of Reliance Industries Limited, is the latest brick-and-mortar retailer to enter into already crowded e-commerce market. It will be competing against established domestic players such as Myntra or global firms such as Amazon. The company’s retail portal, named Ajio.com was launched at the Lakme Fashion Week which was attended by Isha Ambani, daughter of India’s richest man, Mukesh Ambani. Presence of Isha Ambani during the launch clearly indicates that the next generation is involved in the new-age businesses of the group.

The shopping portal seeks to attract working woman and provide them with latest fashion. It has a team of experts who will curate collections specifically for the portal. It will also host in-house design collections. Their collection will range from ethnic woven saris to the Capsule Collection offering the best of boutiques across India. The portal will have a collection of accessories and footwear apart from over 200 Indian and international labels. The collection showcased at the Lakme Fashion week will also be available on the portal.

Ajio.com will leverage Reliance Retail’s sourcing, supply chain and retail operations capabilities. It is expected to be a unique fashion portal which will represent the modern Indian woman.

According to government data, India has about 40,000 pincodes. The company’s target for the next 2 months is to take its delivery capacity to 15,000 pincodes. Considering a forecast of India’s e-commerce sector to produce sales of 36.7 billion dollars by 2020, according to a KPMG report, it is a great opportunity for Reliance Retail.

Reference:

http://www.business-standard.com/article/companies/reliance-moves-into-fashion-and-lifestyle-e-commerce-116040200642_1.html

Fees in top B-schools to rise by Rs. 1 lakh to 3.8 lakh

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yash Malani, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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The high pay packages have made getting an MBA degree very attractive, but the relentless increase in the fees of B-Schools is putting the RoI in jeopardy. Most of India’s top business schools have either increased or are in the process of increasing tution fees by Rs. 1 lakh to 3.8 lakh for management aspirants this year, citing inflationary pressures and increasing operational expenses. That fee increases ranges from 7% to 38% in these B-Schools.

Indian Institute of Management Lucknow has implemented the highest hike of 38% for 2016-2018 batch. They increased their fees upto Rs. 14 lakh from Rs. 10.2 lakh. Second highest hike is implemented by IIM Kozhikode which has implemented 23% hike in tution fees where fees are raised from Rs. 13 lakh to Rs. 16 lakh.

Considered as one of the new IIMs, IIM Trichy and IIM Ranchi has also implemented Rs. 2 lakh increase in their fees. While the former has raised upto Rs. 12 lakh, IIM Ranchi has raised from Rs. 10.5 lakh to Rs. 12.5 lakh implementing 20% and 19% increases respectively. As per the statement by their director, fee hike is necessary to keep pace with inflation, pay hikes and cost of infrastructure. Cost of books or buying case studies has also increased everywhere which is one of the reasons behind hike in fees.

India’s most expensive management programme is offered by IIM Ahmedabad, which increased its fees by Rs. 1 lakh to set at Rs 19.5 lakh. Next is IIM Calcutta, which has raised fees from Rs. 16.3 lakh to Rs. 19 lakh implementing 16.5% increase.

Because of restrictions, private B-schools such as Management Development Institute (MDI) or XLRI, Jamshedpur can not increase their fees beyond a point and they also have a restriction on the number of students in a batch. But because of inflation, MDI has also increased tuition fee is up 7% at Rs 17.15 lakh from Rs. 15.96 lakh, whereas XLRI is likely to raise fees by up to 7%. XLRI currently charges Rs 17.95 lakh for its two-year course.

With the current round of fee increases, the cost of management education at the top institutes has gone up four-five times in the past nine years. Fees at IIM Ahmedabad and IIM Calcutta, which were Rs 4 lakh nine years ago, have risen almost five-fold to Rs 19.5 lakh and Rs 19 lakh, respectively.

An ETIG analysis shows tuition fees at major B-schools have risen faster than inflation. Between 2007 and 2016, inflation as measured by the Consumer Price Index (CPI) for industrial workers (IW) rose at a compounded annual growth rate (CAGR) of 8.6%. During the period, fees at the top management institutes in the country rose by 12-19%.

Reference:

http://economictimes.indiatimes.com/industry/services/education/fees-in-top-b-schools-to-rise-by-rs-46k-3-2-lakh-depending-on-the-institute/articleshow/51749368.cms

Panama Papers: Another Scam unveiled

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yash Malani, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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The Panama Papers are a leaked set of 11.5 million confidential documents created by the Panamanian corporate service provider Mossack Fonseca that provide detailed information on more than 214,000 offshore companies, including the identities of shareholders and directors. The documents name the leaders of five countries — Argentina, Iceland, Saudi Arabia, Ukraine and United Arab Emirates — as well as government officials, close relatives and close associates of various heads of government of more than 40 other countries, including Brazil, China, France, India, Malaysia, Mexico, Malta, Pakistan, Russia, South Africa, South Korea, Syria, the United Kingdom and the United States of America.

The leak has been dubbed the Panama Papers by the International Consortium of Investigative Journalists (ICIJ), a non-profit group based in the US that originally published them.

The data stretches over 40 years, from 1977 through the end of 2015, including 214,000 offshore entities.

The shadowy financial dealings exposed in the leaks are not in themselves illegal but the ICIJ said the leaks show how “dark money flows through the global financial system, breeding crime and stripping national treasuries of tax revenues”.The documents show the myriad ways in which the rich can exploit secretive offshore tax regimes.

The total size of the leaked documents dwarfs that of the Wikileaks Cablegate 2010 (1.7 GB),Offshore Leaks 2013 (260 GB), Lux Leaks 2014 (4 GB), and Swiss Leaks 2015 (3.3 GB). The data primarily comprises e-mails, PDF files, photos, and excerpts of an internal Mossack Fonseca database. It covers a period spanning from the 1970s to the spring of 2016. The Panama Papers leak provide data on some 214,000 companies. There is a folder for each shell firm that contains e-mails, contracts, transcripts, and scanned documents. The leak comprises 4,804,618 emails, 3,047,306 database format files, 2,154,264 PDFs, 1,117,026 images, 320,166 text files, and 2,242 files in other formats.

Over 500 Indians figure on the firm’s list of offshore companies, foundations and trusts.From film stars Amitabh Bachchan and Aishwarya Rai Bachchan to corporates including DLF owner K P Singh and nine members of his family, and the promoters of Apollo Tyres and Indiabulls to Gautam Adani’s elder brother Vinod Adani. Two politicians who figure on the list are Shishir Bajoria from West Bengal and Anurag Kejriwal, the former chief of the Delhi unit of Loksatta Party.

From Mumbai ganglord the late Iqbal Mirchi, the list includes scores of businessmen with addresses in nondescript neighbourhoods in Panchkula, Dehradun, Vadodara and Mandsaur. Addresses of individuals, in many cases, The Indian Express found out, led to physical locations, but with no trace of the individual. Or, as in one case, belonged to a tenement in a chawl in Mumbai.

As per RBI norms, no Indian citizen could float an overseas entity before 2003 — in 2004, for the first time individuals were allowed to remit funds of up to $25,000 a year under the Liberalised Remittance Scheme, and this limit stands at $250,000 a year now.

But while RBI let individuals buy shares under LRS, it never allowed them to set up companies abroad, having clarified it through an FAQ mid-way in September 2010. In most of the cases in The Panama Papers, companies were set up long before the rules were changed and the purpose, experts said, was to park foreign exchange in a tax haven. It was only in August 2013 that individuals were allowed to set up subsidiaries or invest in joint ventures under the Overseas Direct Investment window. Indeed, records investigated reveal detailed correspondence between Indian tax authorities and those in British Virgin Islands, Seychelles, Panama or other tax havens seeking shareholder, bank account and asset details of offshore companies set up by Mossack Fonseca for Indians.

It is revelatory that authorities in these tax havens had no choice but to depend on Mossack Fonseca for information since, unlike India, the government is not a repository of ownership details. The Panama Papers come at a time when the Special Investigating Team (SIT) on black money headed by former Supreme Court Judge M B Shah is finalising its new action-taken report.

The worldwide expose also comes just six months after the 90-day “compliance scheme” for declarations of offshore assets and accounts ended on September 30, 2015 and brought just Rs 3,770 crore from 637 declarants.

The window now closed, strict penalties and a jail term have been announced for anyone found to have undisclosed and undeclared foreign assets and accounts.

References:

https://en.wikipedia.org/wiki/Panama_Papers

http://indianexpress.com/article/india/india-news-india/panama-papers-list-amitabh-bachchan-kp-singh-aishwarya-rai-iqbal-mirchi-adani-brother/

http://www.theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers

EPF tax rollback

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yash Malani, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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The EPF is a retirement benefit scheme for salaried employees. It works as a savings instrument where a portion of your salary is put away into a fund. In most cases, 12% of your basic salary goes into the fund, with your employer also matching this amount and saving on your behalf. These funds are pooled together and invested by the Employee Provident Fund Organization, generating interest and building up a corpus that is due to you on your retirement. Right now, the EPF offers 8.8% returns, with more than 3.7 crore people subscribing to the fund.

The finance ministry’s decision to roll back its tax proposal on the Employees’ Provident Fund (EPF) has provided relief to millions of employees and restored the attraction of the retirement savings avenue.The 29 February budget had announced that only 40% of the total corpus withdrawn from the EPF and National Pension System (NPS) on retirement will be tax-exempt and the remaining 60% taxable unless the amount is used to buy an annuity product. Annuity provides you pension for life and that income is taxed at slab level. Basically this meant that, whenever you retire, the government will tax 60% of the savings you have put away in the EPF at a rate corresponding to your income-tax slab. Suddenly, from being a completely tax-free savings option meant to give you a lump sum on your retirement, the government said it would be taking away a hefty portion of your money. The move to impose tax on EPF withdrawals comes as part of concerted attempts by the government to disincentives investments in EPF against alternatives such as the National Pension System, which are more liberal in routing the corpus to stock markets. The salaried classes, including trade unions, were outraged. The move was called “unfair” and “morally wrong.” Most criticism pointed out that people who had steadily saved all their professional lives and put their money into a government instrument rather than, say, investing it into equities, should not have to suddenly part with a portion of that in taxes. On Tuesday, finance minister Arun Jaitley withdrew the budget provision that sought to tax withdrawals from the EPF, saying the government wanted “to do a comprehensive review of this proposal”. Making a suo motu statement in Parliament, Finance Minister Arun Jaitley also withdrew the Budget proposal of taxing employer’s contribution to provident and superannuation fund (SAF) beyond Rs 1.5 lakh.

However the provision allowing NPS subscribers to withdraw 40% of the corpus without any tax liability remains. This means that you pay a tax on 20% of the maturity corpus. And you pay a deferred tax on the 40% that you annuitize. With not only the maturity corpus taxable, but any contributions to the EPF by the employer over and above Rs.1.5 lakh taxable in the hand of the employee, the budget provisions had made EPF much less attractive in comparison with the NPS. But with EPF moving back to an EEE, or exempt-exempt-exempt, tax regime, it again becomes a popular choice.

The finance ministry’s clarification claimed it was making the change to “encourage more number of private sector employees to go for pension security after retirement instead of withdrawing the entire money from the Provident Fund Account.”

But the move is also seen from a few other angles, because of the government’s attempt to get more people to save through the National Pension Scheme – which invests funds in the equity markets, exposing them to market risks, but giving the government freedom to leverage the funds – than through the EPF, which relies on government securities.

References:

http://www.thehindu.com/business/Economy/epf-tax-full-rollback-likely-as-finance-ministry-considers-options/article8318386.ece

http://www.livemint.com/Money/2lF3jpYIjOsgsz9XqVUUcP/Govt-blinks-on-EPF-What-it-means-for-you.html

http://economictimes.indiatimes.com/wealth/personal-finance-news/i-t-dept-launches-tax-calculator-e-filing-of-few-itrs-begins/articleshow/51670573.cms

http://scroll.in/article/804415/rolling-back-the-rollback-all-you-need-to-know-about-arun-jaitleys-epf-mess

Unclaimed PF deposits to fund scheme for the elderly

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yash Malani, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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Savings that remain unclaimed in Employees’ Provident Fund and Public Provident Fund accounts and other small savings schemes for seven years will be diverted to finance a Senior Citizens’ Welfare Fund, according to new rules notified by the Finance Ministry.Budget 2015 has said that it will use unclaimed money to subsidize the social security schemes it has announced in this budget for the benefit of senior citizens.

Typically, money in the EPF corpus keeps earning interest as per the interest rate declared every year. This interest rate is declared every year. For the year 2014-15, the EPF interest rate declared is 8.75%. An account is deemed inoperative if it doesn’t receive any contribution for three years. Your EPF account keeps earning its interest for three years even if there’s no contribution in it. After three years, the account is deemed as inoperative.

As per market estimates, close to Rs.27,000 crore is lying in inoperative accounts. Of this, Budget 2015 has said that close to Rs.6,000 crore worth of deposits is lying as unclaimed.

Trustees of the Employees’ Provident Fund Organisation termed the move as unconstitutional. Unclaimed deposits of PF contributors cannot be diverted for any other purposes, as per the EPF Scheme, 1952.

According to the rules, the concerned government office “shall try to contact” every account holder of the unclaimed deposits through written notice, e-mail or telephone at least two times in 60 days before transferring the amount to the Senior Citizens’ Welfare Fund.The EPF board had, earlier this week, rolled back a 2011 decision to stop interest credits on inoperative PF accounts. Now, while such accounts will continue to get interest credits, the entire balance could be lost to the Senior Citizens’ Fund after seven years of inactivity, though it’s not clear how this will be implemented.

Provident Fund — EPF and PPF — is the private property of the contributor and the manager. The Government of India plays only the role of a trustee.  If no claim is made for more than seven years, does not mean that government can hijack the money. Though it’s best to claim your unclaimed EPF and PPF money as soon as you can, it could be some time before the government gets its hands on the corpuses. Using the unclaimed money will need an amendment to the EPF Act. Also one of the reasons why EPFO has been able to shore up returns is because of this large pool of EPF money. With this gone, it will be a big blow to EPF.

References:

http://www.thehindu.com/news/national/unclaimed-pf-deposits-to-fund-scheme-for-the-elderly/article8427306.ece

http://www.livemint.com/Money/Yv7Y5s62AW8iCKvt4WbCtM/Inoperative-PF-accounts-to-subsidize-senior-citizen-schemes.html

Global Crude Oil down 72% since May 2014 where as Petrol & Diesel prices in India falls less than 20%

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yash Malani, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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Following a slump in crude oil prices from last 22 months, the basket of crude oil that India buys averaged USD 106.85 per barrel in May 2014 and this month it is averaging at USD 29.80.

But the same is not replicated from Petrol and Diesel prices. Even after over 70% fall in crude oil prices, the price of petrol which was Rs 71.41 per litre in May 2014 has witnessed only 16% decline and remains at Rs 59.95 per litre today. Similarly, diesel cost Rs 55.49 a litre in May 2014 and this month it is available at Rs 44.68 per litre with 19.5% decline.

One of the major reasons is increase in Excise duty charged by the Government. Since May 2014, the government has raised excise duty on petrol by Rs 12 per litre and by Rs 10.21 a litre on diesel. Excise duty on petrol on May 2014 was Rs 9.48 per litre and today it is Rs 21.48 a litre. Similarly, the same on diesel was Rs 3.56 a litre and this month it is Rs 13.77 a litre.

Retail selling price (RSP) of petrol and diesel in the country are based on their respective international prices and oil marketing companies (OMCs) are at present applying Trade Parity Pricing methodology to compute the RSP.

Other than the Excise duty charged by central government, many state governments have also increased VAT on Petrol and Diesel.

Major portion of pricing for Petrol and Diesel is dependent on Refining of Crude Oil and transportation of crude oil and Petroleum products. Even though the crude oil prices have decreased drastically, the refining and transportation charges have remained almost constant.

Reference: http://economictimes.indiatimes.com/industry/energy/oil-gas/global-crude-down-2/3rd-since-may-14-petrol-falls-only-16/articleshow/51123526.cms

RIL deliberately extracted Gas from their fields, alleges ONGC

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yash Malani, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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Oil and Natural Gas Corporation (ONGC) has alleged that Mukesh Ambani owned Reliance Industries (RIL) had deliberately produced nearly $1.4 billion worth of its gas past six years. They had also demanded RIL to pay full compensation with 18 per cent annual interest.

RIL, in 2001 and again in 2007 had acquired seismic data to study hydrocarbon reservoir several hundred meters below the sea-bed, in its Bay of Bengal KG-D6 block and in the neighbouring blocks of ONGC, without knowledge of the state-owned firm.
ONGC has claimed that 8.983 billion cubic metres (bcm) of the 58.676 bcm produced by RIL owned D1&D3 fields of KG-D6 block till March 31, 2015, came from KG-D5 and Godavari PML which s owned by ONGC. The study also established that a total of 11.125 bcm of gas from ONGC blocks has migrated to RIL block due to the production activity. One of the wells drilled by RIL is as near as about 50 meters to ONGC’s block boundary. ONGC claimed that other wells drilled by RIL are at such locations and with such angles so as to extract maximum gas from reservoirs falling under ONGC’s blocks.”

RIL in reply said that they have worked absolutely within their entitlement and there has been no impropriety on their part. ONGC still denied their justification and claimed full compensation with 18% annual interest rate. But on the counterpart, ONGC should also understand that migration of Gas is a natural activity and RIL had drilled wells as per seismic study of fields which are owned by them. Wells drilled at different angles something very common today. Had ONGC started their production earlier than RIL, scenario would have reversed.

 

Reference: http://www.business-standard.com/article/companies/ril-deliberately-extracted-gas-alleges-ongc-116022200413_1.html

Favourites India launched their campaign in style!

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yash Malani, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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India starts the Asia Cup campaign with a convincing win against the hosts. Favourites India thrashed Bangladesh by 45 runs riding on a brilliant 55 ball 83 by Rohit Sharma in the opening match of the Asia Cup T20 tournament at Mirpur on Wednesday.

Rohit Sharma has continued his brilliant form and scored 50% of the runs scored by Team India. He has scored 83, 13, 43, 0, 52, 60, 31, 99 and 41 in last 9 matches averaging almost 47. He is a one-day nerd. He takes his time at the start, gets accustomed to conditions and cashes in only once he is set. Bangladesh Captain Mortaza also said they were in the game till the 14th over but after that Rohit took the game away from them.

The most heartening outcome from the 45-run win was Hardik Pandya passing his own exam with flying colours. He was promoted to No. 6, ahead of MS Dhoni who was declared fit to play even if he had to use a back brace while keeping wicket, and matched Rohit’s strike rate. What was remarkable is that Rohit usually goes beserk after he has bedded into an innings, but Pandya was able to reel off boundaries immediately – five in his first 11 balls – to thrust India’s score from the possible to the improbable. They had been 97 for 4 with only 5.1 overs left and finished at 166 for 6.

That total was more than enough to inspire a fine new-ball spell from Ashish Nehra and Jasprit Bumrah. Pandya’s medium pace proved handy again and R Ashwin’s offspin tied Bangladesh’s middle order in such knot. All 4 of them completed their 4 overs spell giving away 23 runs each and Ravindra Jadeja ended his spell as 4-0-25-0.

Some records set during the match:

  • Under Mahendra Singh Dhoni’s captaincy, India enjoys success % of 57.01 – 32 wins, 24 losses, one tied and one no-result games out of 58 matches.
  • India became the first team to register six wins this year in T20Is (out of seven) – winning 85.71%.
  • Mahendra Singh Dhoni, with 31 catches, has set a record for most catches by a wicketkeeper in T20Is, eclipsing the 30 by Denesh Ramdin for the West Indies.
  • Rohit Sharma has received his third Man of the Match award in T20Is – his first two were against South Africa at Durban in 2007 and 2011.
  • Yuvraj Singh has become the fourth Indian batsman to amass 1,000 runs in T20Is – his tally being 1008 in 47 matches at an average of 29.64. He has joined Virat Kohli (1223), Rohit Sharma (1149) and Suresh Raina (1136).
  • Rohit and Kohli have registered 9 fifties in a winning cause for India in T20Is. Only Brendon McCullum (12) has posted more fifties in a winning cause in T20Is.
  • Ashish Nehra’s superb bowling performance of 3 for 23 is his best against a Test-playing nation in T20Is – his second best in all next only to the 3 for 19 vs Afghanistan at Gros Islet on May 1, 2010.
  • Rohit Sharma has amassed eleven fifty-plus innings (a hundred and ten fifties) in 44 innings. Just 4 batsmen have registered more innings of fifty-plus in T20Is – Brendon McCullum (15), Chris Gayle (14), Tillakaratne Dilshan (12) and Virat Kohli (12).
  • Rohit Sharma, with 175 runs at an average of 58.33 in three matches, including two fifties, is the top run-scorer in T20Is involving India and Bangladesh.

 

References:

http://www.espncricinfo.com/asia-cup-2015-16/engine/match/966745.html

http://www.espncricinfo.com/asia-cup-2015-16/content/story/976001.html

http://www.dnaindia.com/sport/report-asia-cup-stats-ms-dhoni-sets-new-record-rohit-sharma-eclipses-virat-kohli-2182276