PGCNEWSLETTER FOR 21 FEB, 2014

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  • 1. PGC NEWSLETTER 21 February 2014 THOUGHT OF THE DAY “EXPERIENCE IS NOT WHAT HAPPENS TO YOU, IT’S WHAT YOU DO WITH WHAT HAPPENS TO YOU” ECONOMICS NEWS • • • SENSEX 20,711.22 174.58 IMF lauded India's ability to keep a tight rein on spending and monetary policy as it battles an economic slump and inflation, praise that comes amid signals of a difference of opinion over this between the government and the RBI. CNX NIFTY 6,145.20 53.75 India will need to restructure its export promotion schemes by making them less dependent on government support to be WTO compliant. DOLLAR/ RUPEE 62.13 -0.11 SEBI / COMPANIES UPDATES • MARKET UPDATES Messaging app, WhatsApp, which is being acquired by Facebook, is under the SEBI scanner along with other instant messaging platforms for being used to spread price-sensitive information about stock. Sahara case: Coming down heavily on the Sahara group for not refunding Rs 20,000 crore of investor money despite its order, Apex court summons Subrata Roy and 3 directors of Sahara. RBI / TAX LAW UPDATES • A committee formed by Reserve Bank will look into capacity building and skill requirements at various levels of banking and financial services operations for effective delivery of services. • The Reserve Bank has allowed micro and small enterprises (MSEs) who have de-registered their small scale industry status to sell stake to foreign investors to help them attract funds. PGC NEWSLETTER21 February 2014 MCX SILVER 47327.00 -0.36 MCX GOLD 29,859.0 -23.0 MCX CRUDE OIL 6406.00 -0.12 Dow Jones Industrial average 16,133.23 92.67 Nasdaq Composite 4267.55 29.60 1