Top news today: RBI Gov Shaktikanta Das’ term ends, Indraprastha Gas bonus share issue, TRAI rules & more on December 10

Top news today, December 10: RBI Gov Shaktikanta Das, A host of developments, updates, and events are expected in India and internationally on December 10 in the markets, political, financial, technology, and general spheres. We take a look.

Today (December 10), the Reserve Bank of India (RBI) RBI Gov Shaktikanta Das’ term ends today, TRAI’s traceability rules come into effect, Indraprastha Gas to decide on bonus share issue, Kolkata Metro to charge surcharge for late night travel, Motorola to launch its Moto G35 device, and Israeli Prime Minister Benjamin Netanyahu will depose in his corruption trial.

RBI Governor Shaktikanta Das’s term ends today

Shaktikanta Das will step down as the 25th RBI Governor today, December 10. He has been among the longest-serving governors of India’s central bank, having taken the post in 2019 following the abrupt departure of his predecessor, Urijit Patel.

Notably, even as Union ministers Nirmala Sitharaman (finance) and Piyush Goyal (commerce and industry) had called for rate cuts after GDP growth slowed to 5.4 per cent in the July-September quarter, the Das-led monetary policy committee (MPC) stuck to the RBI’s inflation-targeting mandate and held the repo rate steady.

One of Das‘ first actions was to set up a committee under former RBI governor Bimal Jalan to review the central bank’s economic capital framework, which includes the size of capital reserves that RBI should hold. Following the recommendations of the committee, the RBI has been transferring its surplus to the Centre each year.

₹10 ticket surcharge on late night travel in Kolkata Metro from today

The Kolkata Metro will levy a surcharge of ₹10 on every ticket for its night service train on the Dum Dum-New Garia corridor from December 10, regardless of the distance travelled, an official told PTI.

The night service train operates in both directions at 10.40 pm, he said, adding that the decision to impose surcharge was taken because occupancy on the night service train is very poor, the report added.

Indraprastha Gas to consider bonus shares issue today

Indraprastha Gas bonus share issue, board meeting is scheduled for today, December 10, to consider bonus share issuance of the company.

Indraprastha Gas in its release on the exchanges that the Board of Directors will meet to consider the proposal for issue of bonus shares to the company’s equity shareholders. RBI Gov Shaktikanta Das, the bonus share ratio is yet to be fixed and will also be subject to the shareholders’ approval. The company also will thereafter intimate on the record date.

The trading window for dealing in the shares of the company however have remained closed with effect from December 04, till the expiry of 48 hours from declaration of outcome of the aforesaid board meeting.

Moto G35 to be launched in India today

Motorola is launching its Moto G35 device in India today, December 10.

Motorola has confirmed that Moto G35 5G will be priced under ₹10,000 in India. The phone will come with a 6.7-inch Full HD+ display with 120Hz refresh rate and Gorilla Glass 3 protection on the front. It is will come with support for 12 5G bands.

The G35 5G will retain vegan leather design that has become the staple of Motorola phones these days. It will be powered by the UNISOC T760 processor and come with a 50MP primary shooter.

TRAI traceability rules comes into effect, to ensure no delays in OTP

The Telecom Regulatory Authority of India (TRAI) has issued an update to reassure the public that there will be no delays in the delivery of essential Net Banking and Aadhaar OTP messages starting today (December 10). This is an extension from the early deadline of December 1.

Responding to misinformation circulating on social media, TRAI rules said thatwith new regulations aimed at improving message traceability, the timely delivery of such messages will be ensured.

New rules were introduced on October 1, requiring telecos to establish a system for tracking the origins of bulk messages. Message traceability refers to a mechanism enabling telecom companies to identify the source of bulk SMS traffic. This capability is crucial for curbing the spread of fraudulent messages, as it allows authorities to pinpoint and act against the originators of such schemes. Without traceability, detecting and prosecuting scammers becomes significantly more challenging.