1. PGC NEWSLETTER4th, April 2014 1
PGC
NEWSLETTER
4th, April 2014
THOUGHT OF THE DAY
“To live a creative life, we must lose our
fear of being wrong.”
ECONOMICS NEWS
• The government is believed to be working on a strategy to resolve the
matter related to Wednesday’s Supreme Court order asking Samsung
Electronics Chairman Lee Kun- hee to appear within six weeks before
the Ghaziabad trial court in a pending payment case.
• In what could spell fresh trouble for India’s hydrocarbon explorers, the
Supreme Court on Thursday asked the government to explain why it
chose the “complex” Rangarajan formula for gas pricing when it could
have adopted “simpler methods” like cost-plus pricing or revenue-
sharing.
CORPORATE LAW UPDATES
• SEBI has issued the Securities Laws (Amendment ) Ordinance, 2014.
• The Competition Commission of India has issued Procedure in regard
to the transaction of business relating to combinations (F. No.
CCI/CD/Amend/Comb. Regl./2014)
• Market regulator SEBI has revamped its committee on disclosure and
accounting standards .
RBI / TAX LAW UPDATE
• RBI: The credit growth of the banking system grew 14.31 per cent year-
on- year in the fortnight ended March 21, show Reserve Bank of India
data released on Thursday.
• The Reserve Bank of India will conduct a 13- day term repo variable rate
auction for a notified amount of Rs 60,000 crore on Friday.
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MARKET UPDATES
SENSEX
22,444.76 -64.31
CNX NIFTY
6,719.05 -17.05
DOLLAR/ RUPEE
60.32 0.14
MCX SILVER
43089.0 0.16
MCX GOLD
28,466.0 31.0
MCX CRUDE OIL
6082.0 0.4
Dow Jones Industrial
Average
16,572.55 -0.45
Nasdaq Composite
4237.74 -38.72