1. PGC NEWSLETTER9th , April 2014 1
PGC
NEWSLETTER
9th , April 2014
THOUGHT OF THE DAY
“The ones who are crazy enough to think
they can change the world are the ones
who do”
ECONOMICS NEWS
 RBI governor Raghuram Rajan is pushing for differentiated banks. Such
banks may not drastically change the banking space since many of the
ideas floated are not new to India. The central bank’s approach could
determine the industry’s road ahead.
 Companies raised a little over Rs 51,000 crore through preferential equity
issues in the financial year ended March. This was the highest in 14 years
and a little more than three times the amount raised through initial public
offers, follow- on public offers and offers for sale in the period.
CORPORATE LAW UPDATES
 MCA 282 vital sections of the new company law have been made
effective, giving vent to a modern, resilient regulatory testament. The
new law assumes directors and key management personnel to be the
sentinels of governance. A mere awareness of a contravention makes a
director liable to penal action.
 Sebi has issued circular regarding Change in investment conditions /
restrictions for FII/QFI investments in government debt securities.
RBI / TAX LAW UPDATE
 IT: Where value of speculative share transactions exceeded prescribed
limit for tax audit under section 44AB, levy of penalty under section
271B for tax audit default was justified
 RBI: RBI provided clarification on calculation of net owned funds
(NOF) of an NBFC vide DNBS (PD) CC.No.373/03.10.001/2013-14
www.proglobalcorp.wordpress.com
MARKET UPDATES
SENSEX
22,428.21 84.76
CNX NIFTY
6,716.10 21.05
DOLLAR/ RUPEE
60.04 -0.08
MCX SILVER
43252.0 0.12
MCX GOLD
28,532.00 55.00
MCX CRUDE OIL
6158.0 -0.08
Dow Jones Industrial
Average
16,256.14 10.27
Nasdaq Composite
4112.99 33.24