Newsletter dated 10th March,2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
10th
March, 2015
THOUGHT OF THE DAY
"The greatest discovery of all time is that a person can change by
merely changing his attitude."
ECONOMIC UPDATES
 Over 480 urban cooperative banks across the country have come under
the scanner RBI for alleged violation of anti-money laundering laws.
 The excise duty hike on cigarettes in this budget has had a domino effect
on the black market as distributors have hoarded stocks and are selling
them at a premium to retailers.
 The Insurance Regulatory and Development Authority of India (IRDAI) is
considering multiple insurer tie-ups for banks to ensure that banks are
not dissuaded from opening up their branch network to other insurers.
SEBI/CORPORATE UPDATES
 Government has raised Rs 2 lakh crore through auction of mining rights
and royalty from 30 blocks that have been bid out so far, breaching the
Comptroller & Auditor General's estimated "notional loss" of Rs 1.86 lakh
crore.
 Aditya Birla Retail, part of the $40-billion Aditya Birla Group, is set to
take over Jubilant Retail in a tuck-in acquisition deal.
RBI/TAX LAW UPDATES
 The Income Tax Department allowed a tax payer to file returns by march
31,2015 and the late return will be considered as valid return.
 Mumbai High court has given decision in the favor of dealers to give
refund on the basis of returns where Form 501 not filed.
 Vide Notification ref RBI/2014-15/492 A.P. (DIR Series) Circular No.82
dated March 09, 2015 Export-Import Bank of India (Exim Bank) has
entered into an Agreement dated September 12, 2013 with the
Government of the Republic of Niger for making available to the latter, a
Line of Credit (LOC) of USD 34.54 million for financing solar
electrification of 30 villages.
HISTORICAL EVENT
 Thomas Jefferson is appointed minister to France.
MARKET UPDATES
SENSEX
28,848.74 3.96
CNX NIFTY
8,754.75 -2.00
DOLLAR/ RUPEE
62.71 0.16.
MCX SILVER
35,774.00 -140.00
MCX GOLD
25,892.00 -132.00
MCX CRUDE OIL
3,162.00 -1.00
Dow Jones Industrial
average
17,995.72 138.94
Nasdaq Composite
4,942.44 15.07
http://www.proglobalcorp.com