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PGC NEWSLETTER 20th March 2014

PGC NEWSLETTER 20th March 2014






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    PGC NEWSLETTER 20th March 2014 PGC NEWSLETTER 20th March 2014 Document Transcript

    • PGC NEWSLETTER20th March 2014 1 PGC NEWSLETTER 20th March 2014 THOUGHT OF THE DAY “The starting point of all achievement is desire” ECONOMICS NEWS • Infosys co-founder and Congress candidate for Bangalore South Lok Sabha seat Nandan Nilekani today said he supports job reservation in public sector, but the private sector should not be over-regulated and instead be encouraged to be more proactive about inclusion. • India’s intellectual property (IP) regime and patent laws have got strong support from US-based law professors and non-profit organisations as well as leading MNCs. CORPORATE LAW UPDATES • Separate meetings of the deputy labour commissioner with Toyota Kirloskar Motor and the Toyota Kirloskar Motor Employees Union (TKMEU) remained inconclusive on Wednesday. • SEBI has barred Jignesh Shah- promoted Financial Technologies India Ltd ( FTIL) from owning stakes in the country’s stock exchanges.The capital markets regulator said FTIL was not ‘ fit &proper’ to hold shares in bourses and directed it to sell its holding in the four exchanges and a clearing corporation within 90 days. RBI / TAX LAW UPDATE • The central bank has suggested that top executives of public sector banks (PSBs) be selected from a wider pool that includes private sector candidates, rather than be confined to those from the state-run lenders. • RBI has barred asset reconstruction companies from acquiring bad loans from sponsor banks on a bilateral basis. However, it has allowed such transactions if the asset is auctioned in a transparent manner, on an arm’s- length basis and if prices are determined by market factors. MARKET UPDATES SENSEX 21,788.58 -44.28 CNX NIFTY 6,504.95 -19.10 DOLLAR/ RUPEE 61.15 0.19 MCX SILVER 45669.0 -0.01 MCX GOLD 29,965.0 -16.0 MCX CRUDE OIL 6120.0 0.92 Dow Jones Industrial Average 16,222.17 -114.02 Nasdaq Composite 4307.60 -25.71