Understanding the Pakistan Budgeting Process: Basics and Key Insights
Newsletter 22nd October,2014
1. PGC NEWSLETTER 1
PGC NEWSLETTER 22nd October, 2014
THOUGHT OF THE DAY HAPPY DIWALI “May the divine light of diwali enlighten you on the path of success, wealth and prosperity.” SEBI/CORPORATE UPDATES
Draft Order of amalgamation of National Spot Exchange Limited with Financial Technologies (India) Limited under Section 396 of the Companies Act, 1956 issued by the Ministry of Corporate Affairs on 21-10-2014.
SEBI issued CIRCULAR ref CIR/MRD/DP/29/2014 dated October 21, 2014 To All Stock exchanges and Clearing corporations, All Stock brokers through stock exchanges regarding Modification of client codes of non-institutional trades executed on stock exchanges (All Segments).
Vide Pres Note No.9 (2014 Series),Ministry increases validity period of industrial license; does away with stipulation of annual capacity.
RBI / TAX LAW UPDATES
RBI issued Framework for Revitalising Distressed Assets in the Economy – Review of the Guidelines on Joint Lenders’ Forum (JLF) and Corrective Action Plan (CAP) vide notification no- RBI/2014- 15/271 DBOD.BP. BC. No.45/21. 04.132/ 2014-15 dated October 21, 2014 to All Scheduled Commercial Bank (excluding RRBs) All-India Term-lending and Refinancing Institutions(Exim Bank, NABARD, NHB and SIDBI)
Vide RBI notification no-RBI/2014-15/269 DBOD. AML. BC. No. 44/14.01.001/2014-1 dated October 21, 2014, Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) guidelines – clarifications on periodic updation of low risk customers, non-requirement of repeated KYC for the same customer to open new accounts and partial freezing of KYC non-compliant accounts.
RBI issued RRBs - Risk Weights for Calculation of CRAR vide notification no- RBI/2014-15/270 RPCD.CO. RRB.BC. No. 35/03. 05.33/2014-15 dated October21, 2014.
MARKET UPDATES SENSEX
26,729.19153.54 CNX NIFTY
7,982.8555.10 DOLLAR/ RUPEE
61.25-0.07 MCX SILVER 38,627.00-140.00 MCX GOLD 27,524.00-30.00 MCX CRUDE OIL 5,072.0047.00 Dow Jones Industrial average 16,614.81215.14 Nasdaq Composite 4,419.48103.40
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