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Geminid Meteor Shower to Dazzle the Sky Tonight, Upcoming RBI Board Meeting Reliance Jio to Hive Off Fibre, Tower Businesses et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Dec 13, 2018 2:39 PM 3 min read

Good evening reader,


Get set for tomorrow! 


Wait, not because its a Friday. Though that surely qualifies for celebration, we were actually talking about the upcoming RBI Board Meeting. Yes, the one under with the new "Economic Bureaucrat" Governor at helm.


Quoting him: "The government is not just a stakeholder...the government of the day runs the economy...and manages major policy decisions. So there has to be a free, fair, objective and very frank discussion..."


Only time will tell how much of RBI's institutional integrity survives the said frank-ness.


Till then, TGI(t will be)F.


Now to today’s Top 6 Business Stories through our End of Day Wrap Up:


Ahead of tomorrow's RBI Board Meeting, bank chiefs ask Governor to ease PCA norms. With receding inflationary pressures and a new head, economists expect RBI may cut interest rates. RSS ideologue and Board member, S Gurumurthy expresses support for new gov.


The What: Heads of IDBI Bank, PNB, SBI, Union Bank of India and others met the newly appointed RBI Governor today to seek relaxation of the Prompt Corrective Action (PCA) norms for 11 PSBs, wherein ailing banks face restrictions on distributing dividends, remitting profits, lending etc., along with easing of the 12 February circular on one-day default.


Airtel, Vodafone Idea breathe easy as TDSAT annuls TRAI regulations related to predatory pricing and discounted tariffs.


The What: The telecom regulator had earlier this year issued norms which required operators to disclose segmented offers on their websites, aimed at retaining customers.


And this: The new norms also stated that in case of violation of tariff reporting requirements, an operator can be penalised INR5,000 for every day of delay, subject to a maximum of INR2 lakh.


Zoom Out: The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) ruled that the prescribed segmented disclosure is not required.


Reliance Jio to hive off fibre, tower businesses into separate companies.


Expert Opinion: The latest move would give the company leeway to lease out infrastructure in the fast-growing telecom market and help raise funds before the ambitious Gigafibre launch.


Zoom Out: The development comes as RIL recently acquired majority stakes in two of India's largest cable TV and broadband companies - Hathway Cable & Datacom, and DEN Networks for a combined sum of INR5,230 crore to gain traction on its broadband service named Jio GigaFiber.


Apple to relaunch Texture, a “Netflix-style” digital magazine. 


What’s the news?: As per a Bloomberg Quint report, the tech giant is preparing to relaunch Texture, a digital magazine app acquired by Apple earlier this year.


The What: The app offers unlimited access to about 200 magazines including Rolling Stone, People, Forbes, Vanity Fair, Vogue, Entertainment Weekly and more, for a subscription charge of $9.99. 


Geminid meteor shower to dazzle the sky tonight.
Let’s Talk Some Science: The Geminid meteor shower is caused by debris from an asteroid named 3200 Phaethon. The asteroid takes about 1.43 years to finish its orbit around the sun. These meteor showers usually occur around December 13-14 each year when earth passes through the tail of the debris.
That sounds mesmerising: The best way to view the Geminid meteor shower in India is to move away to areas with a clear dark sky at night. The best time to view in India is from 12am IST to 2am IST on December 14.


OYO expands presence in South-East Asia, launches in Sri Lanka. Fab Hotels, OYO competitor plans to double inventory by 2019.

The What: Hospitality firm OYO currently has presence in seven countries including India, China, Indonesia, Malaysia, Nepal, the UK and UAE.


Zoom Out: The move comes soon after the appointment of Aditya Ghosh, former IndiGo President, as OYO's chief executive officer for India and South Asia.


Game on: Fab Hotels operates primarily through franchising arrangements and plans to double its inventory to 20,000 rooms by the end of next year. On cards is adding 20 cities to the current list of 40.


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