PGC NEWSLETTER 4TH AUG, 2014
THOUGHT OF THE DAY
“DON’T GET DEPRESSED IF EVERYTHING GOES WRONG. DON'T GET
OVER CONFIDENT IF EVERYTHING GOES FINE. ALWAYS BE IN
EQUILIBRIUM POSITION BECAUSE NOTHING IS PERMANENT."
· Development has set up a committee headed by former University Grants Commission
Chairman Hari Gautam to provide a blueprint for restructuring the higher education
regulator as it addresses challenges of a growing sector.
· Prime Minister Narendra Modi's upcoming visit to the US could be significant as India
hopes to take trade talks forward when the World Trade Organization (WTO) meets in
September after the summer break, signalling its commitment to the multilateral trading
· Syndicate Bank chief’s arrest RBI may review loan disbursals by lenders, The Central
Bureau of Investigation (CBI) has arrested six people, including SK Jain, chairman and
managing director of the state owned bank, in connection with a bribe-for-loan case. RBI
may take measures to ensure that there is more transparency and accountability in
sanctioning of loans.
· The home ministry has called for re-imposition of the 74% foreign ownership cap in
telecom companies on security grounds, a move that could pose challenges for Norway's
Telenor Group and Russia's Sistema JSFC, which have both shown an interest in fully
owning their local units after the previous government allowed 100% FDI last year.
· L&T Infrastructure Finance is looking to raise roughly $1 billion in a private equity (PE)
fund focused on investing in power, roads, ports and other projects, three people with
direct knowledge of the matter said, with the sector set to pick up as the new government
gets cracking on improving India's creaking facilities.
RBI / TAX LAW UPDATES
· Tax Audit reports been revised vide Notification No. 33/2014, F.No.133/1/2014-TPL
dated 25th July, 2014 issued by Central Board of Direct Taxes, Ministry of Finance,
Government of India.
MCX CRUDE OIL
Dow Jones Industrial
16,493.0 - 70
4,353.0 - 17