7. IFC launches $2.5 blnrupee-denominated bonds for infra projects in India
•The World Bank's private-sector arm on Wednesday launched $2.5 billion, rupee-denominated bonds to fund infrastructure investments in India, the International Finance Corporation (IFC) said in a statement.
•Under the programme, IFC will use a combination of rupee- denominated bonds and swaps to raise local-currency financing of up to $2.5 billion, or 150 billion rupees, over the next five years," the statement said.
Source: http://in.reuters.com
8. HDFC Bank is most valuable brand in India: BrandZReport
•Mumbai:HDFCBankLtd,India’ssecondlargestprivatebankbyassets,emergedtheNo.1brandwithavalueof$9.4billioninalistofIndia’s50mostvaluablebrandsreleasedonTuesday.Thefirst-everBrandZrankingwascommissionedbyWPPPlc,theworld’slargestcommunicationsservicesgroup, andthevaluationwasconductedbyresearchagencyMillwardBrown,whichspecializesinbrandequityresearchandbrandvaluation.HDFCBankhasanetworkin2,100citiesandtownsacrossIndiaand28millioncustomers.TheNo.2brand,BhartiAirtelLtd,isthefourthlargestmobilephoneoperatorintheworldwithnearly300millioncustomers,whileIndia’slargestcommercialbank,StateBankofIndia,isatNo.3intherankings.
Source : http://www.livemint.com
9. Dena Bank admits fraud at Malabar Hill branch; suspends manager
• Dena Bank on Wednesday said it has suspended an “erring branch manager” at its Malabar Hill branch in Mumbai and has transferred some staff for conducting irregularities in the handling of fixed deposits. The bank admitted that some of its branch level employees committed financial fraud by creating fake overdraft facilities.
•The bank has lodged a complaint with the central bureau of investigation in this regard, it said in a communication to exchanges.
•According to the communique, the Malabar Hill Branch of the Bank received bulk term deposits from various entities and government organizations between January 30, 2014 and May 05, 2014.
•“Subsequently, term deposits amounting to Rs 256.69 crorewere pledged to the bank by the same signatories to obtain overdraft facilities of Rs 223.25 crore. The funds were surreptitiously transferred out of the Bank by creating fake overdraft facility, resulting in a fraud on the Bank and the concerned entities/Government organizations,” the communication said.
Source: http://firstbiz.firstpost.com
12. •Raj KumariAgarwal vs. DCIT (ITAT Agra), I.T.A. No.: 176/Agra/2013:
•We are alive to the fact that in the case of a business assessee, and in a situation in which the borrowings against fixed deposits were resorted to for use in business, consideration for end use of funds so borrowed would be relevant because the interest deduction is claimed as a business deduction under section 36(1)(iii). That aspect of the matter, however, is academic in the present context as the limited issue for our consideration is whether or not, on the facts before us, the interest on borrowings against the fixed deposits could be said to protect the interest income from fixed deposit interest and thus, incurred wholly and exclusively for the purposes of earning such income. -See more at: http://taxguru.in/income-tax-case-laws/interest-expense- incurred-earn-interest-income-allowable-section- 57iii.html#sthash.MtD67B4X.dpuf
Source: http://taxguru.in
Interest Expense incurred to earn Interest Income is allowable –Section 57(iii)
16. Employees Provident Fund Organisation-ShimlaHimachal Pradesh
Last Date :22/08/2014Empanelment of chartered accountant firm for regional officeAddress:Shimla-Himachal Pradesh
Source: http://pdicai.org/OppDetail.aspx?MoreBtnId=oppurtunity
18. MUDGALCOMMITTEE TO DECIDE ON EXTENSION AUG 27
The MukulMudgalcommittee Wednesday rubbished media reports of its members interrogating International Cricket Council (ICC) chairman N. Srinivasanand his son-in-lawGurunathMeiyappaninChennaiand said it will meet Aug 27 to decide whether to seek more time from the SupremeCourtto submit its report on the spot fixing and betting scandal that hit the 2013 IndianPremierLeague (IPL).
The Supreme Court, while setting up the committee in May, had asked the panel to submit its findings by the end of August. Justice (retd.) Mudgaltold IANS that the committee would decide next week if it needs more time to file the report.
"We will meet Aug 27 to decide whether we need more time. Accordingly, we would seek an extension from the Supreme Court to submit the report," Mudgalsaid, adding that the committee has no intention to interrogate any Indian cricketer in England since it may disturb the struggling team's concentration.
Source: http://www.business-standard.com
19.
20. SeniorCongressleader K V Thomas was today made the new head of Parliament's Public Accounts Committee (PAC), a prestigious panel which examines CAG reports after they are tabled in Parliament. The post of PAC Chairman usually goes to the main opposition party inParliamentbut the development assumes significance as it comes amidst the bad blood between the government and Congress over denial of Leader of Opposition post status to the latter. The PAC, constituted every year, consists of not more than 22 members--15 members elected byLokSabhaand not more than seven members from RajyaSabha. "We will work as a team. We will examine whatever issues are placed before us," Thomas, the former Union minister, told PTI after taking over.
Source: http://www.business-standard.com
22. Not just Mary Kom, all Bollywoodfilms banned in Manipur
•PriyankaChopra's next film, a hard hitting tale of celebrated boxer, 'Mary Kom' is set to hit the screens on September 5. However the home state of Mary Kom, Manipur will reportedly not have the film released there.
•According to a report on ndtv.com, the film will not be released in Manipur. And its not just Mary Kombut all Hindi films have been banned there since almost 15 years now. The report stated that separatists organisationsfelt that movies would undermine Manipur's culture, and that there is a bit of bitter feeling over PriyankaChopra portraying Mary Kom, over a local actress from Manipur.
Source: http://timesofindia.indiatimes.com
24. Amazing facts
The sentence, “The quick brown fox jumps over the lazy dog” uses every letter in the English language.
The shortest war in history was between Zanzibar and England in 1896. Zanzibar surrendered after 38 minutes.
Source: http://indianrealist.com
26. Result of CA IPCC Exam held in May/June,14 are likely to be
declared today
Source: http://220.227.161.86/34465exam24170.pdf
The result of the Chartered Accountants Intermediate (IPC)
Examination held inMay/June, 2014 are likely to be declared
on Thursday, the 21st August, 2014 around4.00 P.M. and
the same as well as the merit list (candidates securing a
minimum of 55%and above marks and uptothe maximum
of 50th Rank on all India basis will be available onthe
following website:
http://www.caresults.nic.in
28. IMRANKHAN'SPROTESTAGAINSTPAKPM NAWAZSHARIF: ALLYOUNEEDTOKNOW
Several thousand protestors were on the streets of Islamabad through Tuesday night and all of Wednesday morning in a bid to depose Prime Minister NawazSharif. The coordinated protests are being led by former international cricketer ImranKhan, head of the country's third-largest political party the PDP, and cleric Tahirul-Qadri, who controls a network of Islamic schools and charities.
Source: http://www.firstpost.com
30. TOPHONOURFORINDIAN-ORIGINWOMANINSOUTHAFRICA
JOHANNESBURG: Indian-origin South African academic Leila Patel has been named the African country's one of the top women researchers in the annual Women in Science Awards hosted by the ministry of science and technology here. Patel, who got her PhD from the University of the Witwatersrand, is currently a professor of social development studies and director of the Centre for Social Development in Africa, which she founded in 2002 at the same institution. These annual awards recognize the work of those women who are involved in full-time research leading to a master's or doctoral degree in areas in which the participation of women is traditionally low.
Source: http://timesofindia.indiatimes.com
32. व्रत एवं ऩवव
अगस्त सन् 2014
विक्रम संित् 2071 श्रावण शुक्ऱ ऩंचमी से भाद्रऩद शुक्ऱ षष्ठी तक
शक संित् 1936 रराष्र य श्रावण 10 से राष्र य भाद्रऩद 9 तक
हिजरी सन् 1435 शव्वाऱ 4 से जजल्काद 4 तक
Source: http://www.jagran.com/spiritual/panchang-news-hindi.html
21 अगस्त अजा एकादशी व्रत, बृहस्ऩनत-ऩूजन
33. .
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