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  • 1. Recent News for the week
  • 2. CII opposes compulsory maintenance of cost records
    • Industry Chamber CII has opposed a proposal of parliamentary standing committee to make compulsory maintenance of cost records
    • According to CII maintenance of cost records should be according to the needs, objectives of the company and intended to be used with the company’s requirements
  • 3. Reliance missing in euphoria
    • Investors are disappointed with the Reliance Contribution’s to the market in the last four months
    • RIL shares have risen only 3.7% in the last four months as compared to total market increase which was 22% it is very less
  • 4. C-17 deal between India-US
    • Largest defence deal between India-US of acquisition of 10 C-17 globemaster transport aircraft by the Indian air force is likely to be inked during US president’s visit to India during November
    • C-17 are used for airdropping paratroopers, supplies, emergency evacuation and carrying heavy equipments like tanks
    • Total cost for this deal would be around $3.5 billion, making it the biggest defence deal.
  • 5. Centre bans bulk SMS, MMS
    • Government banned bulk SMSes and MMSes for the Ayodha verdict. Communication ministry’s late night communication to mobile phone companies is another attempt by the government to keep a tight lid on unwanted incidents
    • Communications ministry officials may also be authorized to block all SMS services in sensitive areas
  • 6. Pay less for pension account maintenance
    • NSDL has reduced the annual account maintenance charges to Rs 280 from Rs 350
    • Under Present structure a subscriber has to pay atleast Rs 470 as initial charges in the first year and Rs 350 annually to the National Securities Depository Limited for the maintenance of account.
    • Also CRA’s transaction fee has come down substantially to Rs 6 per transaction from the present Rs 10.
  • 7. SEBI rejects MCX-SX plea for operations
    • SEBI has rejected the MCX-SX’s applications for stock and debt trading platforms stating non-compliance with the shareholding rules
    • For the compliance of MIMPS rules, MCX-SX has stated that the capital reduction had been suggested by SEBI chairman.
  • 8. Rise in food inflation
    • Food inflation rose for the fourth week running as widespread floods in North India pushed up prices of cereals, fruits and vegetables
    • Food Prices were up 15.46% for the week ended september 11 from a year ago, a marginal increase from 15.1% for the week before