U.S. Mortgage Rates Jump Above 7% for the First Time This Year

Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent mark on Thursday, a troublesome sign for an already tight housing market.

Mortgage rates rose above 7 percent for the first time this year, crossing a symbolically concerning threshold that threatens to keep millions of potential home buyers and sellers on the sidelines of a U.S. housing market that is increasingly showing signs of slowing.

The average rate on 30-year mortgages, the most popular home loan in the United States, rose to 7.1 percent this week, Freddie Mac reported on Thursday, the highest since November. Mortgage rates reached a recent high of nearly 8 percent late last year — a level not seen since 2000.

As mortgage rates have risen in recent months, making homeownership costlier for buyers, potential sellers who may feel locked into lower rates on their existing loans have been keeping their houses off the market, in effect pushing prices higher, too. Combined, the forces have fed into a broader feeling of frustration about the economy, at a time when inflation has remained hotter than expected.

“Potential home buyers are deciding whether to buy before rates rise even more, or hold off in hopes of decreases later in the year,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “It remains unclear how many home buyers can withstand increasing rates in the future.”

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At the same time, the market has slowed. Sales of existing homes fell by 4.3 percent in March and 3.7 percent from a year earlier, according to the National Association of Realtors.

In April 2021, mortgage rates were at about 3 percent, less than half the current rate. They began to climb that year and continued to rise in 2022 when the Federal Reserve started raising its benchmark rate in an effort to combat inflation. Although inflation has since cooled significantly, it’s still above the central bank’s 2 percent target.

The Fed has signaled in recent months that it may keep the cost of borrowing higher for longer amid stubborn inflation. The Fed’s benchmark interest rate is currently the highest it’s been in 22 years.

Mortgage lenders generally watch the 10-year Treasury bond, which is tied to mortgage rates, and expectations that the Fed will keep rates high has pushed up Treasury yields. The 10-year Treasury yield has soared since the start of the year, now sitting at about 4.6 percent.

The N.A.R. agreed to settle litigation last month that would eliminate the standard sales commission, a move housing experts say could bring down home prices. Sellers currently pay a 5 or 6 percent commission to a real estate agent, a cost that’s typically passed onto the buyer through a higher sticker price.

J. Edward Moreno is a business reporter at The Times. More about J. Edward Moreno

Google AI content under premium now? Search engine says it's 'not considering ad-free experience'

 Google AI content under premium now? Search engine says it's 'not considering ad-free experience'

The potential move suggests the Alphabet Inc unit still hasn’t figured out how to incorporate the new, fast-growing technology without threatening its essential advertising business.

Google logo and AI Artificial Intelligence words are seen in this illustration

Google is considering charging for new “premium" features run by artificial intelligence, the Financial Times reported, marking the first time it would put any of its core product behind a paywall.

The tech giant is mulling options such as adding certain AI search features to its premium subscription services, the FT reported, citing three unnamed people familiar with the plans. Engineers are developing the technology to roll out the service but executives haven’t decided whether or when to launch it, according to the report. Google’s ubiquitous search engine would continue to be free and ads would appear alongside search results even to subscribers, the FT said.

“We’re continuing to rapidly improve the product to serve new user needs," a spokesperson said. “We’re not working on or considering an ad-free search experience. As we’ve done many times before, we’ll continue to build new premium capabilities and services to enhance our subscription offerings across Google."

The potential move suggests the Alphabet Inc. unit still hasn’t figured out how to incorporate the new, fast-growing technology without threatening its essential advertising business. The shares were down less than 1% in premarket trading Thursday.

Ever since OpenAI launched ChatGPT in late 2022, Google has found itself on the defensive in the face of the wildly popular chatbot. ChatGPT’s ability to give answers to queries in a narrative voice has forced Google to rethink its traditional list of blue links to websites and the lucrative ads that appear alongside them. Meanwhile, in recent years, a new crop of search startups has emerged. Some have tried to persuade users to sign up for paid subscriptions to access generative AI search features, or for better privacy protections.

Last year, Google began testing its own AI-powered search service that combines the personalized, detailed narrative in addition to links to websites and advertising. But it has been slow to incorporate features from its experimental “search generative experience" to the main search engine.

In February, Google added a new paid tier to its consumer subscription service that gives people access to its latest AI model, Gemini. Users who pay for that subscription, called Google One AI Premium, are able to use its advanced Gemini chatbot and access the generative AI model in popular services such as Gmail and Google Docs.

Using generative AI technology to power search queries is “eye-wateringly" expensive, said one former Google employee, who worked on the company’s search products. Teams regularly ran benchmark tests on random queries internally to measure how quickly Google’s search engine could deliver results — but they didn’t run the same tests for Google’s AI-powered search product in part because it was so costly, the former staffer said.

In the wake of ChatGPT’s appearance, Google has reoriented its search teams to deploy more people to work on the experimental AI-powered experience, according to another former Google employee. While early feedback was positive, the high cost likely factored into the decision not to roll it out more widely, the person said. A Google spokesperson said the company has been focused on improving issues such as latency and adding new features, and that cost hasn’t influenced the company’s decisions about how fast to incorporate more AI into search.

For Google, charging for certain AI search aspects could help the company shake loose some additional revenue, without cannibalizing its core search ad business, said Mandeep Singh, an analyst at Bloomberg Intelligence.

“Given OpenAI has reached a subscription run-rate of $2 billion with consumer subscriptions, we believe Alphabet could see a similar boost to its $15 billion subscription sales," he wrote in an email.

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Netanyahu says aid workers’ killing tragic, ‘happens in wartime’: 10 points

 Netanyahu says aid workers’ killing tragic, ‘happens in wartime’: 10 points

The seven workers killed in the strike were citizens from Australia, Britain, Poland, a Palestinians and a dual citizen of the United States and Canada.

People inspect the site where World Central Kitchen workers were killed in Deir al-Balah, Gaza Strip,

In Short

🔸Seven killed in Israeli strike at food charity in Gaza

🔸Israeli PM laments killings, but says it 'happens in war'

🔸Countries, including Poland, Spain, the UK, react strongly

Seven people working for the World Central Kitchen aid group in Gaza were killed in an Israeli airstrike on Tuesday. Three of them were British nationals, one Australian, one from Poland, one Palestinian and one dual citizen of the United States and Canada.

Israeli Prime Minister Benjamin Netanyahu lamented the killing of the NGO workers calling the incident "tragic and unintended". However, he also said this "happens in wartime".

 

Arvind Kejriwal News Live: ‘Not celebrating, my 3 brothers are in jail,’ says AAP MP Sanjay Singh's wife

Arvind Kejriwal News Live: AAP MLAs met CM Kejriwal's wife Sunita Kejriwal at her residence in Delhi today.

Arvind Kejriwal News Live: Arvind Kejriwal, the chief minister of Delhi was on Monday remanded to judicial custody until April 15. Later that evening, he was placed in Tihar Jail in the national capital. During the hearing, the Enforcement Directorate informed the Rouse Avenue Court that Kejriwal had implicated his party colleagues Atishi and Saurabh in the excise policy scam case.

Arvind Kejriwal leaves in a car after attending a hearing at a court, in New Delhi.

Kejriwal claimed that one of the accused in the case, Vijay Nair, who was also the former communication-in-charge of AAP, used to report to Atishi.

In a turn of events on Tuesday, Delhi minister Atishi addressed a press conference in which she said that she was asked to ‘join the BJP or face ED action.’ She further claimed that this warning was extended to three other AAP leaders: Delhi Minister Saurabh Bharadwaj, MLA Durgesh Pathak, and Rajya Sabha MP Raghav Chadha, who were also allegedly at risk of arrest.

Aam Aadmi Party leader Saurabh Bharadwaj also made similar comments.

Meanwhile, hitting back at the AAP's allegations against it, BJP spokesperson Shehzad Poonawalla said, "If they have all the evidence in their command why don't the courts give them relief? This is the same party which said a few months ago that ₹800 crore had been kept by the BJP, they are breaking our party we have an audio tape we are going to disclose it but where is that audio tape?... This party has the track record of making the most number of lies and the most number of untruthful statements..."

AAP MLAs also met CM Kejriwal's wife Sunita Kejriwal at her residence in Delhi today

Tue, 02 Apr 2024 05:42 PM

Arvind Kejriwal News Live: Shiv Sena (UBT) MP Priyanka Chaturvedi on Sanjay Singh's bail in liquor scam case

Arvind Kejriwal News Live: Shiv Sena (UBT) MP Priyanka Chaturvedi, speaking to news agency ANI about the Supreme Court granting bail to Aam Aadmi Party MP Sanjay Singh, says, “I welcome the decision of the Supreme Court... This shows that the BJP is misusing the central agencies to suppress and politically arrest opposition leaders. Sanjay Singh has got bail and he can get involved in his party affairs also... Enforcement Directorate has knelt down before BJP... ED has been reduced to the Extortion Department and an Extended Department of the BJP.”

‘Pick your battles’: CJI Chandrachud tells probe agencies; lauds new criminal laws

 ‘Pick your battles’: CJI Chandrachud tells probe agencies; lauds new criminal laws

CJI DY Chandrachud also stressed on need to strike a balance between exercising search and seizure powers and the individual’s privacy rights.

NEW DELHI: Chief Justice of India (CJI) Dhananjaya Y Chandrachud on Monday said the premier probe agencies such as the Central Bureau of Investigation (CBI) must concentrate on those cases of importance that threaten the security, public order and economic health of the country rather than taking up petty cases while praising the three new criminal laws brought by the Centre.

Chief Justice of India Dhananjaya Y Chandrachud frowned at incidents of unwarranted confiscation of personal devices

CJI Chandrachud also emphasised the need to “uphold due process” in the functioning of law enforcement agencies and striking a delicate balance between “search and seizure powers” and “individual privacy rights” to create a fair and just society, alluding to the unwarranted seizure of personal devices during raids.

“It is important for us, both in the context of not just streamlining the courts but also promoting the efficiency of CBI and the investigative agencies to pick our battles. I think we have perhaps been spreading our investigative agencies too thin over the years, despite a rapid change in the environment. Our premier investigative agencies must concentrate their attention and efforts on that class of crime which truly threatens the security of the nation, public order or economic health of the nation,” the CJI said while delivering the 20th DP Kohli Memorial Lecture, organised by CBI in the memory of its founding director. “Allowing our investigative agencies to spread themselves too thin would really pose a serious challenge to the personnel who man the agencies because the number of personnel is obviously limited,” CJI Chandrachud said as he cited the example of CBI, which consists largely of officers who come on deputation.

The CJI was referring to instances of CBI investigating cases involving bribes as low as ₹300.

Lauding the three new criminal laws – Bharatiya Nyaya Sanhita (BNS), Bharatiya Nagarik Suraksha Sanhita (BNSS) and Bharatiya Sakshya Adhiniyam (BSA), which will replace the colonial era Indian Penal Code (IPC), Criminal Procedure Code (CrPC) and Indian Evidence Act from July 1 -- the CJI noted that “the new criminal laws enacted by Parliament encompass substantive crime, procedure and evidence”.

“These laws aim at digitising various aspects of criminal procedure. This is a significant step towards modernising the justice system. From the initial registration of a first information report to the final delivery of judgment, every stage of a criminal investigation is slated to be recorded digitally under the purview of the proposed legislation. This comprehensive approach ensures a seamless flow of information and is intended to facilitate better coordination and collaboration among stakeholders involved in the investigative and adjudicatory processes,” he said.

“Summons can now be issued electronically, and testimonies from witnesses, experts, accused individuals, and other parties may also be presented virtually,” the CJI said, Underscoring how the new laws will integrate technology with the criminal justice system.

“This innovation eliminates the need for physical documentation and enables swift communication between law enforcement agencies, courts, and individuals involved in legal proceedings. It will obviate the delay in bail orders reaching the jail authorities and in recording witness depositions. Similarly, the authorisation for presenting testimonies virtually opens up new avenues for participation in legal proceedings, allowing contributions to the process from remote locations”, he added.

CJI Chandrachud also advocated for striking a balance between investigative imperatives and individual privacy rights in his address.

“In the realm of criminal justice, the delicate balance between search and seizure powers and individual privacy rights stands at the cornerstone of a fair and just society. At the heart of this balance lies the need to uphold due process while ensuring the effective functioning of law enforcement agencies,” he said.

The CJI noted that Section 94 of the newly enacted BNSS and Section 185 of BSA grant courts and law enforcement the authority to summon documents and materials, including digital evidence deemed necessary for investigation.

“Instances of raids conducted and incidents of unwarranted confiscation of personal devices highlight the pressing need to strike a balance between investigative imperatives and individual privacy rights,” he said.

The CJI further highlighted there was a need to rethink our investigative framework to deal with the innovations in criminal activities and called for having “multidisciplinary teams” consisting of officers and domain experts.

“The practice of allocating a case to an investigative officer (IO) and his local team for investigation must be re-looked to meet the challenges of sophisticated criminal networks. We can do this by completely re-engineering the national response to crime and our approach to criminal investigation by forming multidisciplinary teams consisting of law enforcement officers and domain experts including data analysts. These teams would draw from the expertise of their members and refine their investigative work. Multidisciplinary investigative teams can deploy unique approaches and pattern recognition in a seamless manner over a fluid investigative landscape,” he said.

While recommending the use of technology such as AI by agencies to bolster the criminal justice system, CJI asked to prioritise “ethical considerations” in utilising such technologies and have clear guidelines and safeguards to prevent misuse.

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Mars exploration: NASA's Curiosity searches for new clues about ancient water

 Mars exploration: NASA's Curiosity searches for new clues about ancient water

A recent study by an international team has suggested that Mars might have retained more water for a longer period than previously thought.

The presence of water on Mars—Earth’s neighbour —is not an alien concept. Astronomers over decades have talked about the presence of water on the Red Planet without evidence. However, a recent study by an international team has suggested that the fourth planet of the solar system from the Sun might have retained more water for a longer period than previously thought.

As the Curiosity rover of the National Aeronautics and Space Administration (NASA) has begun exploring a new region of Mars i.e Gediz Vallis channel—appears to have been carved by an ancient river—it could reveal more about when liquid water disappeared once and for all from the Red Planet’s surface.

The rover team is focusing on the Gediz Vallis channel and searching on for evidence that would confirm how the channel was carved into the underlying bedrock. The formation’s sides are steep enough that the team doesn’t think the channel was made by wind.

The rover’s journey through this region aims to find out the process of the Gediz Vallis channel formation—whether the debris flows (rapid, wet landslides) or a river carrying rocks and sediment could have formed the bedrock. Scientists are also eager to find out whether the debris was transported by water or dry avalanches.

Since 2014, Curiosity has been ascending the foothills of Mount Sharp above the floor of Gale Crater to explore the evaluation of the Mars climate change. The study of layers in the lower part of Mount Sharp formed over millions of years may provide scientists a clue as to how the presence of both water and the chemical ingredients required for life changed over time. These layers present a chronological record of Mars’ environmental changes, crucial for understanding its potential for past life.

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“If the channel or the debris pile were formed by liquid water, that’s really interesting. It would mean that fairly late in the story of Mount Sharp – after a long dry period – water came back, and in a big way," said Curiosity’s project scientist, Ashwin Vasavada of NASA’s Jet Propulsion Laboratory in Southern California.

Last year, Curiosity made a challenging ascent to study the ridge, which drapes across the slopes of Mount Sharp and seems to grow out of the end of the channel, suggesting both are part of one geologic system.

This Curiosity exploration contributes to a growing body of evidence suggesting Mars experienced water in phases, with periods of aridity interspersed with significant watery intervals. Discoveries like mud cracks, remnants of shallow lakes, and evidence of the complexity of Mars's hydrological past, Massive debris flows underscore the complexity of Mars’ hydrological past.

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Pluto declared ‘official state planet’ of this US state

2 min read

01 Apr 2024, 03:16 PM IST

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Written By Deepak Upadhyay

Arizona—a southwestern US state—has recently declared Pluto as its ‘official state planet’ despite the ‘dwarf planet’ being stripped of its official status as a planet in 2006 by the International Astronomical Union

This Pluto image was taken in July 2015, when NASA's New Horizons spacecraft was 476,000 miles (768,000 kilometers) from the surface

Arizona--a southwestern US state—has recently declared Pluto as its ‘official state planet’ despite the ‘dwarf planet’ being stripped of its official status as a planet in 2006 by the International Astronomical Union

Last Friday (i.e. March 29), Arizona governor Katie Hobbs signed a legislation declaring the ‘dwarf planet’ as the ‘official state planet’ of the US state, reported The Arizona Daily Star. When quizzed on whether the Pluto is a full-fledged planet? The Arizona governor dodged the question saying “I am proud of Arizona’s pioneering work in space discovery."

It is important to note that Pluto was discovered by American astronomer Clyde Tombaugh at the Lowell Observatory in Flagstaff of Arizona in 1930. Pluto happens to be the only planet to be discovered in the US.

“The whole story of Clyde is just amazing, just sitting there under the telescope’’ looking for planets by taking photos over a period of time," said Arizona state Republican Justin Wilmeth (R-Phoenix), who praised the Pluto legislation.

Senator Sally Ann Gonzales (D-Tucson)--one among the five senators who voted against the legislation--said, “Scientifically, they took it out of being a planet." Gonzales added that lawmakers must take scientific information into account, “something that we as a Legislature, as a body, sometimes omit.’’

What is the status of Pluto?

In 2006, the International Astronomical Union (IAU) voted to remove Pluto from the group of planets, claiming that the icy object at the edge of the solar system failed to meet the full and proper definition of planets. The IAU reclassified Pluto as a “dwarf planet."

According to NASA, “Pluto is a dwarf planet located in a distant region of our solar system beyond Neptune known as the Kuiper Belt. It was long considered our ninth planet, but the International Astronomical Union reclassified Pluto as a dwarf planet in 2006."

“It was named by 11-year-old Venetia Burney of Oxford, England," the US space agency added.

Pluto is classified as a dwarf planet because, “while it is large enough to have become spherical, it is not big enough to exert its orbital dominance and clear the neighbourhood surrounding its orbit," ass per Encyclopedia Britannica.

The website noted that Pluto’s “demolition" felt like a “break from tradition" to many across the globe. It added that the step was, however, “a positive step forward into a new light, new knowledge, and changing perspectives of the universe."

NASA further said, “When Pluto was reclassified in 2006 from a planet to a dwarf planet, there was widespread outrage on behalf of the demoted planet. As the textbooks were updated, the internet spawned memes with Pluto going through a range of emotions, from anger to loneliness. But since the release of New Horizons images showing a very prominent heart-shaped feature on the surface, the sad Pluto meme has given way to a very content, loving Pluto that would like to once again be visited by a spacecraft."

“The Disney cartoon character Pluto, Mickey's faithful dog, made his debut in 1930, the same year Clyde Tombaugh, an astronomer at the Lowell Observatory in Flagstaff, Arizona, discovered the dwarf planet. There is speculation that Walt Disney named the animated dog after the recently discovered planet to capitalize on its popularity, but other accounts are less certain of a direct link," the US space agency added.

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Turkey local elections: Opposition claims big city wins in blow to Erdogan

 Turkey local elections: Opposition claims big city wins in blow to Erdogan

Istanbul Mayor Ekrem Imamoglu hails victory in blow to Turkish president’s standing after two decades in power.

Turkey's Republican People’s Party claimed victory in 36 of Turkey's 81 provinces in local elections, according to state-run Anadolu Agency

Turkey’s main opposition party has claimed victory in Istanbul and Ankara in local elections, inflicting the biggest defeat on President Recep Tayyip Erdogan and his Justice and Development Party (AK Party) in more than two decades.

With more than 95 percent of ballot boxes opened in Istanbul on Sunday, Mayor Ekrem Imamoglu of the Republican People’s Party (CHP) said he had defeated the governing AK Party candidate by more than one million votes.

“Those who do not understand the nation’s message will eventually lose,” Imamoglu, a former businessman, told thousands of supporters late on Sunday.

KEEP READING

What shapes Turkey’s municipal elections?

🔸Turkey votes in local elections in test of Erdogan’s popularity

🔸Turkey’s opposition in electoral battle to keep hold of major cities

🔸Tonight, 16 million Istanbul citizens sent a message to both our rivals and the president.

In the capital, Ankara, CHP’s Mayor Mansur Yavas claimed victory over his rival, hailing the result as a “clear message to those who rule this country”.

The CHP was also ahead in Izmir, Turkey’s third city.

In total, CHP prevailed in 36 of Turkey’s 81 provinces, state-run Anadolu Agency reported, making inroads into many AK Party strongholds.

Opposition supporters gathered in Istanbul to celebrate the results, with tens of thousands of people lighting torches and waving Turkish flags.

In a speech delivered from the balcony of the presidential palace, Erdogan, who has governed Turkey since 2002, acknowledged that his party had “lost altitude” across the country and said he would self-reflect and rectify any mistakes.

“We will correct our mistakes and redress our shortcomings,” he said.

In previous local elections in 2019, Imamoglu won Istanbul’s mayoral race, dealing Erdogan and the AK Party their biggest electoral blow until that point. That defeat also struck a personal note for Erdogan, who was born and raised in the city and served as its mayor in the 1990s.

Sunday’s local elections represent a new blow to the president who had set his sights on retaking control of those urban areas.

Some 61 million people were eligible to vote for mayors across Turkey’s 81 provinces as well as provincial council members and other local officials on Sunday.

The nationwide local elections were seen by analysts and civilians as a gauge of both Erdogan’s support and the opposition’s durability amid skyrocketing inflation and the crumbling of the Turkish currency against the dollar.

Sinan Ulgen, director of the Istanbul-based Edam think tank, told The Associated Press news agency that “the surprising outcome” was the result of voters wanting to punish the governing party over the state of the economy and described the elections as a “watershed for Imamoglu”.

“He will emerge as the natural candidate of the opposition for the next round of presidential elections,” Ulgen said.

Donald Trump assails judge and his daughter after gag order in New York hush-money criminal case

 Donald Trump assails judge and his daughter after gag order in New York hush-money criminal case

Donald Trump objected in particular to what he said was her specious social media photo showing him behind bars.

Donald Trump lashed out on Wednesday at the New York judge who put him under a gag order ahead of his April 15 hush-money criminal trial, suggesting without evidence that the veteran jurist was kowtowing to his daughter's interests as a Democratic political consultant.

The former president objected in particular to what he said was her specious social media photo showing him behind bars.

Mr. Trump, the presumptive Republican nominee, posted on social media that the gag order issued on Tuesday was “illegal, un-American, unConstitutional".

his company's books when they were for Cohen's work during the 2016 campaign covering up negative stories about Trump.

That included $130,000 Cohen paid Daniels on Trump's behalf so she wouldn't publicise her claim of a sexual encounter with him years earlier.

Trump pleaded not guilty last April to 34 counts of falsifying business records, a felony punishable by up to four years in prison, though there is no guarantee that a conviction would result in jail time. He denies having sex with Daniels and his lawyers have said that the payments to Cohen were legitimate legal expenses, not part of any coverup.

In issuing the gag order, Merchan cited Trump's history of “threatening, inflammatory, denigrating” remarks about people involved in his legal cases. A violation could result in Trump being held in contempt of court, fined or even jailed.

Though not covered by the restrictions, Merchan referenced Trump's various comments about him as an example of his rhetoric. The gag order mirrors one imposed and largely upheld by a federal appeals court panel in Trump's Washington, D.C., election interference criminal case.

Trump's lawyers fought a gag order, warning it would amount to unconstitutional and unlawful prior restraint on his free speech rights.

Merchan had long resisted imposing one, recognizing Trump's “special” status as a former president and current candidate and not wanting to trample his ability to defend himself publicly.

But, he said, as the trial nears, he found that his obligation to ensuring the integrity of the case outweighs First Amendment concerns. He said Trump's statements have induced fear and necessitated added security measures to protect his targets and investigate threats.

 

What does Electoral Bond data published by the ECI tell us?

The electoral bonds data was published by the Election Commission of India on its official website on March 14, as ordered by the Supreme Court.

In the electoral bonds data released yesterday, the only identifier on the donor side is the name of the company or individual. In order to find out more about donor companies, we did an exact name match with the database of the Ministry of Corporate Affairs (MCA), fetched their unique ID, and looked into basic data available from MCA on them. These are some of the findings.

Who are the biggest donors?

The Election Commission of India office in New Delhi. (Reuters File Photo)

In the data released, there are 1,260 companies and individuals that purchased electoral bonds worth ₹12,769 crore. The top 20, all companies, accounted for ₹5,945 crore—or nearly half of the total amount donated through electoral bonds.

Ms SN Mohanty is the biggest individual donor in the list with total donations of ₹45 crore. She is followed by Lakshmi Niwas Mitttal who donated ₹35 crore. Here is the list of top ten individual donors.

Newly incorporated companies

For about 500 companies, we were able to get an exact name match with the MCA database. Of these, there were 28 companies that were set up on or after April 12, 2019, when the first electoral bond was purchased. These are the top 10 purchasers of electoral bonds among them.

Bonds purchased versus net profits

Of the top 20 purchasers of electoral bonds, we were able to get financials for 13 companies. This is what their bond purchases look like in proportion to their net profits.