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THOUGHT OF THE DAY
“In life and in the universe it’s always best to keep looking up...”
Law Updates:
Despite a SEBI deadline to appoint women directors coming to end
in just two days, nearly 400 listed companies are yet to comply with
the guideline.
Chartered accountants' apex body ICAI has suggested that the
proposed cess of two per cent for clean India initiative should be
calculated on the payable service tax instead of taxable services'
value. Calculating Swachh Bharat cess on the value taxable services
would push the overall service tax rate to 16 per cent.
Notification ref No. 13/2015 – Customs dated 30.03.2015 issued by
CBEC seeks to amend Notification No. 69/2011-Customs dated 29th
July 2011 so as to notify the next tranche of tariff concessions under
the India-Japan Comprehensive Economic Partnership Agreement
(CEPA), w.e.f. 01st April 2015.
The Karnataka government will not relax the value added tax (VAT)
for any e-commerce company or online marketplace. CM to
legislature: No relaxation for any; many online platforms, vendors
have complied with notices; Flipkart pays Rs 226 crore
PROFESSIONALS INPUTS
The Reserve Bank of India (RBI) on Monday allowed banks to divert
a greater share of a mandatory contingency fund to provide for bad
loans, a move that will improve lenders’ profitability and bolster
their balance sheets. Under the new rules, banks can use half or
50% of their so-called ―counter-cyclical buffer‖ — a mandatory
safety fund that banks have to set aside to deal with extraordinary
economic shocks — to provide for non-performing assets (NPAs), up
from 33% allowed earlier.
CBEC allows e-payment of service tax till midnight of March 31,
2015. (Circular No 182/01/2015 –Service Tax dated March 27,2015)
Vide MCA Circular No-05/2015 dated March 30,2015, it is clarified
by MCA that Sum received by private Cos. from members/directors
prior to April 1, 2014 not to be deemed as deposits
MARKET WATCH:
SENSEX: 28071.09 95.23 NIFTY: 8515.30 23.00
SILVER: 37436.00 -959.00 GOLD (MCX): 26239.00 -31.00
USD/INR: 62.64 -0.04 CRUDE OIL: 3010.00 -142.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 31st March, 2015
2. www.csrajivbajaj.com
Dr Chintamani Nagesa Ramachandra Rao,
Renowned Chemist
"India must invest more in science as its future is linked with it"
Dr Chintamani Nagesa Ramachandra Rao, also known as Dr C N R Rao, is a renowned
chemist in India. To date, he has written close to 1,500 research papers and 45
scientific books.
Early Life:
Dr C N R Rao’s educational background and achievements are as impressive as his professional achievements. Dr C N
R Rao was born in Bangalore to Hanumantha Nagesa Rao and Nagamma Nagesa Rao, who encouraged him to pursue
higher education in the field of his choice. Dr C N R Rao had his parents’ blessings in every step of his life, and in 1951,
he made his parents proud by obtaining a Bachelor’s degree from Mysore University. His love for Chemistry was so
deep that he decided to gain more knowledge in this field – he graduated from Banaras Hindu University with a
Master’s degree, obtained his PhD from Purdue University in 1958, and received the Doctor of Science research
degree from Mysore University in 1961. After completing his studies, Dr C N R Rao joined the teaching faculty at the
Indian Institute of Technology, Kanpur, and later became the Director of the Indian Institute of Science from 1984 to
1994.
Career:
Dr C N R Rao is one of the world’s foremost and leading solid state and materials chemists and has contributed
significantly to this field over the last 50 years.His outstanding and ground breaking work in transition metal oxides
has enhanced people’s basic understanding of novel phenomena and the relationship between properties of materials
and structural chemistry of these materials. In addition, he was one of the very few scientists to synthesise two-
dimensional oxide materials, including Lanthanum Copper Oxide (La2CuO4). This ground breaking discovery in turn
led to the study of compositionally controlled metal-insulator transitions. And today, thanks to Dr C N R Rao, people
have been able to apply his theories to colossal magneto resistance and high temperature superconductivity.
Awards and Achievements
Today, Dr C N R Rao holds many titles – he is the head of the Scientific Advisory Council to the Prime Minister of
India, Linus Pauling Research Professor and Honorary President of Jawaharlal Nehru Centre for Advanced Scientific
Research in Bangalore, which he founded in 1989. For his significant contribution to the field of Chemistry, Dr C N R
Rao was awarded the Padma Shri in 1974 and Padma Vibhushan in 1985. He is also the recipient of the Karnataka
Ratna, the India Science Award and the Hughes Medal by the Royal Society. In January 2013, Dr C N R Rao received
China’s top science award for his contributions in enhancing Sino-India scientific cooperation. On November 16,
2013, the Indian government declared that Dr C N R Rao would be awarded the Bharat Ratna, India’s highest civilian
award. Dr C N R Rao would be the third scientist to be awarded Bharat Ratna, after C V Raman and former President
A P J Abdul Kalam.
Responsibility towards Society:
Dr C N R Rao has shown the world that hard work never goes unrewarded or unnoticed. Despite difficulties in life,
people should follow their dreams and passions; only then will they reap success in life. Instead of only looking at
one’s benefits, one ought to look at how he/she can contribute to the society. This is exactly what Dr C N R Rao did
throughout his life – he published papers and carried out research, not just for his personal gain, but for future
developments that can help mankind. Education should not only help an individual but the entire society. This is what
we should keep in mind while pursuing our dreams. Dr C N R Rao is a role model to youngsters and adults. He has
proven to the world that if passion is deep and determination is strong, one can overcome all obstacles in life.
