Newsletter dated 23rd February, 2015
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Newsletter dated 23rd February, 2015
![PGC NEWSLETTER 1
PGC
NEWSLETTER
23rd
February, 2015
THOUGHT OF THE DAY
“Change your thoughts and you change your world”
ECONOMIC UPDATES
As per Department of Industrial Policy and Promotion, Foreign direct
investment (FDI) in India almost doubled to $ 2.16 billion in December
2014, compared to $ 1.10 billion in the same month of 2013.
Reserve Bank of India (RBI) Governor Raghuram Rajan advocated a
"cultural change" which pulls the rich towards philanthropy or giving back
to the society by strongly disapproving the idea of inheritance tax.
Bank of India is likely to defer its plans to raise $750 million in foreign
currency loan under its medium-term notes (MTN) programme during
this fiscal. In the December quarter, the bank had raised Rs 2,500 crore as
additional tier I capital.
SEBI/CORPORATE UPDATES
E-Biz is India’s one-stop-shop of convenient and efficient online
Government-to-Business (G2B) services. Register at www.ebiz.gov.in for
availing various government online services such as industrial license,
MCA name availability, PAN, TAN, MCA DIN, IEC etc.
Competition Commission cleared SpiceJet deal with Ajay Singh and the
deal is likely to acquire more than 58 per cent stake in SpiceJet.
Nearly three years after small and medium enterprise (SME) exchanges
were introduced, the first batch of companies has made the transition of
moving to the main bourse. Bronze Infra-Tech, Anshu's Clothing and SRG
Housing Finance migrated from the BSE SME platform to the BSE
mainboard in February.
RBI/TAX LAW UPDATES
Notification No. 05 / 2015 – Customs dated 20th February, 2015 Seeks to
amend various notifications to include Airport Calicut and ICD
Arakkonam in list of ports notified for export and import under EP
Schemes.
Notification No. 17/2015 [F. NO. 203/06/2014/ITA-II], dated 17-2-2015,
'Academy of Scientific and Innovation Research' notified as scientific
research association under sec. 35(1) (ii) of the Income-tax Act, 1961 (said
Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said
Rules).
MARKET UPDATES
SENSEX
29,261.29 `29.88
CNX NIFTY
8,835.45 1.85
DOLLAR/ RUPEE
62.18 -0.04.
MCX SILVER
36,291.00 -23.00
MCX GOLD
26,170.00 -107.00
MCX CRUDE OIL
3,191.00 -24.00
Dow Jones Industrial
average
18,140.44 154.67
Nasdaq Composite
4,955.97 31.27
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Newsletter dated 23rd February, 2015
- 1. PGC NEWSLETTER 1 PGC NEWSLETTER 23rd February, 2015 THOUGHT OF THE DAY “Change your thoughts and you change your world” ECONOMIC UPDATES As per Department of Industrial Policy and Promotion, Foreign direct investment (FDI) in India almost doubled to $ 2.16 billion in December 2014, compared to $ 1.10 billion in the same month of 2013. Reserve Bank of India (RBI) Governor Raghuram Rajan advocated a "cultural change" which pulls the rich towards philanthropy or giving back to the society by strongly disapproving the idea of inheritance tax. Bank of India is likely to defer its plans to raise $750 million in foreign currency loan under its medium-term notes (MTN) programme during this fiscal. In the December quarter, the bank had raised Rs 2,500 crore as additional tier I capital. SEBI/CORPORATE UPDATES E-Biz is India’s one-stop-shop of convenient and efficient online Government-to-Business (G2B) services. Register at www.ebiz.gov.in for availing various government online services such as industrial license, MCA name availability, PAN, TAN, MCA DIN, IEC etc. Competition Commission cleared SpiceJet deal with Ajay Singh and the deal is likely to acquire more than 58 per cent stake in SpiceJet. Nearly three years after small and medium enterprise (SME) exchanges were introduced, the first batch of companies has made the transition of moving to the main bourse. Bronze Infra-Tech, Anshu's Clothing and SRG Housing Finance migrated from the BSE SME platform to the BSE mainboard in February. RBI/TAX LAW UPDATES Notification No. 05 / 2015 – Customs dated 20th February, 2015 Seeks to amend various notifications to include Airport Calicut and ICD Arakkonam in list of ports notified for export and import under EP Schemes. Notification No. 17/2015 [F. NO. 203/06/2014/ITA-II], dated 17-2-2015, 'Academy of Scientific and Innovation Research' notified as scientific research association under sec. 35(1) (ii) of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules). MARKET UPDATES SENSEX 29,261.29 `29.88 CNX NIFTY 8,835.45 1.85 DOLLAR/ RUPEE 62.18 -0.04. MCX SILVER 36,291.00 -23.00 MCX GOLD 26,170.00 -107.00 MCX CRUDE OIL 3,191.00 -24.00 Dow Jones Industrial average 18,140.44 154.67 Nasdaq Composite 4,955.97 31.27 http://www.proglobalcorp.com