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In corporate news, Air India has placed an additional order for 100 Airbus aircraft, boosting its fleet expansion plans. Meanwhile, FMCG stocks tumbled as Godrej Consumer Products revised its Q3 volume growth outlook to zero, dragging the sector into the red.
Globally, Syrians are celebrating the fall of President Bashar al-Assad after five decades of rule, while Israel occupies a buffer zone citing security concerns. Back home, PM Modi launched the Bima Sakhi Yojana and inaugurated the Rising Rajasthan Summit, securing investment pledges worth ₹35 lakh crore, including ₹7.5 lakh crore from Adani Group.
Defence Minister Rajnath Singh began his three-day visit to Russia, participating in the induction ceremony of INS Tushil, a stealth warship. In Bangladesh, Foreign Secretary Vikram Misri conveyed India’s concerns about minority safety and urged constructive political steps.
Stay updated with CNBC-TV18 for in-depth coverage and expert analysis!
New RBI Governor: Govt appoints revenue secretary Sanjay Malhotra for a 3 year term
In a major development, the Department of Personnel and Training (DoPT) has announced Sanjay Malhotra as the next Governor of the Reserve Bank of India (RBI) for a three-year term. The notification, issued on Monday, December 9, 2024, confirms the elevation of Malhotra, a 1990 batch IAS officer from the Rajasthan cadre.
His appointment comes at a time when inflation is above the RBI’s comfort zone of 4% and there is pressure from the government to cut rates to give growth a chance given the latest gross domestic product (GDP) numbers.
Who is Sanjay Malhotra? India’s 26th RBI Governor
Sanjay Malhotra, the current Revenue Secretary in the Ministry of Finance, has been appointed as the 26th Governor of the Reserve Bank of India (RBI) for a term of three years, effective from Wednesday, December 11.
A 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre, Malhotra is an IIT-Kanpur graduate in Computer Science and holds a Master’s in Public Policy from Princeton University.
HUL, ITC, Marico, other FMCG shares fall up to 4% after GCPL’s margin warning
The shares of fast-moving consumer goods (FMCG) including Hindustan Unilever, Britannia, ITC, and Tata Consumer fell up to 4% in early trade on December 9. The selling pressure comes after FMCG major Godrej Consumer Products warned of margin pressure weighing in on earnings in the September to December 2024 quarter.
In fact, HUL, Tata Consumer, Britannia and Nestle India were the top losers in the Nifty 50 pack. The FMCG index fell more than 2% to 56,482.40 with 14 out of 15 stocks in the pack in the red.
Air India to expand fleet with new order for 100 Airbus aircraft
Air India has placed an additional order for 100 Airbus aircraft, including 10 A350 widebody jets and 90 A320 Family narrowbody planes, such as the A321neo. This comes after last year’s order of 470 aircraft, the single-largest purchase order in history, from Airbus and Boeing. With this latest purchase, Air India’s total Airbus orders reached 350 planes, including six A350s that have already been delivered.
Chetak is now the largest selling e-scooter in India: Rajiv Bajaj of Bajaj Auto
Rajiv Bajaj, managing director, Bajaj Auto, on December 7, said ‘Ola to Ola Hai, Chetak to Shola hai’ as he quoted December VAHAN registration data and said Chetak is now the largest selling electric scooter in the country.
Receiving the Outstanding Company of the Year award at CNBC-TV18 India Business Leader Awards 2024, Bajaj said the award could not be better times as his son Rishabh, who has been part of the Electric Chetak team for the past 2.5 years, told him about this feat that morning.
“…My son Rishabh who has been part of the Electric Chetak team for the past 2.5 years told me this morning that based on December VAHAN registration data, our electric scooter Chetak is now the largest selling electric scooter, not third largest, in the country. So, the award could not be better timed.”
Bajaj said “Ola toh Ola hai, Chetak to shola hai.”
Syrian President flees to Russia as rebels seize Damascus, ending 50 years of family rule
Syrian President Bashar al-Assad fled to Moscow and was granted asylum by Russia, according to Russian media reports on Sunday. The development came hours after rebel forces seized Damascus, marking the end of five decades of Assad family rule.
Rebel advances since late November saw the rapid capture of major cities, including Aleppo, Hama, and Homs, as the Syrian army crumbled. The fall of Damascus triggered widespread celebrations, with thousands taking to the streets to chant slogans, fire celebratory gunshots, and wave revolutionary flags. “God is great,” echoed through mosques as residents expressed disbelief at the regime’s sudden collapse.
Celebrations on the streets of Syria: Why and what is happening in the country
After 50 years of rule the Assad regime was overthrown in Syria. People poured onto the streets celebrating while the President fled the country.
Here is everything that has happened in Syria since the last 10 days.
Indian Foreign Secretary Vikram Misri holds high-level talks with Dhaka amid strained ties
The foreign secretaries of India and Bangladesh met on Monday in Dhaka, marking the first high-level engagement between the two nations since Bangladeshi Prime Minister Sheikh Hasina was ousted in August.
Indian Foreign Secretary Vikram Misri arrived in Dhaka earlier in the day on an Indian Air Force jet for a one-day visit. Upon his arrival, he held one-on-one talks with his Bangladeshi counterpart Mohammad Jashim Uddin, followed by a formal meeting with delegations from both sides at the state guest house, Padma.
‘Reform, Perform and Transform’: PM Modi highlights India’s development mantra at Rajasthan investment summit
Prime Minister Narendra Modi on Monday, December 9, inaugurated the Rising Rajasthan Global Investment Summit 2024 and the Rajasthan Global Business Expo in Jaipur.
Speaking at the Jaipur Exhibition and Convention Centre (JECC), PM Modi said that every investor in the world is “excited about India.”
“The development that India has achieved through the Mantra of – Reform, Perform and Transform, can be seen in every sector,” he added.
INS Tushil: Rajnath Singh commissions Indian Navy’s new frigate in Russia
Defence Minister Rajnath Singh on Monday, December 9, commissioned the Indian Navy’s latest multi-role, stealth-guided missile frigate, INS Tushil at Kaliningrad in Russia.
The warship is an upgraded Krivak III class frigate of Project 1135.6. The Defence Minister is on an official visit to Russia from December 8-10, where he along with his Russian counterpart Andrey Belousov will be co-chairing the 21st meeting of the India-Russia Inter-Governmental Commission on Military and Military Technical Cooperation (IRIGC-M&MTC) in Moscow on December 10.
Bima Sakhi Yojana: PM Modi launches key LIC scheme; know its key benefits and features
The Bima Sakhi Yojana of LIC has been specially designed to empower women between the age groups of 18 and 70 years, who are Class 10th pass.
Prime Minister Narendra Modi on Monday, December 9, launched the ‘Bima Sakhi Yojana’ of the Life Insurance Corporation of India (LIC), in line with his commitment towards women empowerment and financial inclusion.
The key initiative was launched in Haryana’s Panipat city.
What is Bima Sakhi Yojana? Read Here
Golden Globe Nominations: ‘All We Imagine As Light’ director Payal Kapadia nominated for Best Director
Payal Kapadia has made history at the 2025 Golden Globe Awards by earning a nomination for Best Director (Motion Picture) for her film All We Imagine As Light. This marks a significant achievement for the filmmaker, whose film won the prestigious Grand Prix at the 2024 Cannes Film Festival.
Kapadia is nominated alongside other notable directors, including Jacques Audiard (Emilia Pérez), Sean Baker (Anora), Edward Berger (Conclave), Brady Corbet (The Brutalist), and Coralie Fargeat (The Substance).
All We Imagine As Light premiered at Cannes 2024, where it won the coveted Grand Prix. The film went on to be featured in several international film festivals before it was selected to open the 2024 MAMI Mumbai Film Festival. The screening was attended by many Bollywood luminaries, such as Kabir Khan, Vikramaditya Motwane, Vishal Bhardwaj, Ramesh Sippy, and Waheeda Rehman.
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