1. THOUGHT OF THE DAY
“If you change the way you look at things, the things you look at
change…”
ECONOMIC UPDATES
Reserve Bank Governor Raghuram Rajan today said the central bank is
looking at allowing full capital account convertibility in a few years
resulting in which a foreign investor can repatriate his money into his own
local currency at will, which is not allowed in the country now.
India's industrial output growth accelerated to 5.0 per cent in February, its
fastest pace in nine months, mainly driven by growth in capital goods and
consumer goods sectors. India plans to release industrial output data
based on a new methodology and use a different base year for calculating
the index in the next few months.
SEBI/CORPORATE UPDATES
Vide MCA Notification No. 17/45/2015-CL-V dated April 10, 2015 notified
The Companies (Auditor's Report) Order, 2015.
MCA General Circular No. 07/2015 issued Clarification regarding payment
of remuneration to managerial person for the period under Schedule XIII
of The Companies Act, 1956.
MCA issued Clarification under sub-section (7) of section 186 of The
Companies Act, 2013.
RBI/TAX LAW UPDATES
Vide Notification RBI/2014-15/551 DNBR (PD).CC.No.028/ 03.10.001/
2014-15 notified to All NBFCs to maintain a Loan to Value (LTV) ratio of
50% for loans granted against the collateral of shares. Any shortfall in the
maintenance on account of movement in the share prices shall be made
good within 7 working days.
To check corporate wrongdoings, The Government today made it
mandatory for auditors to flag off any lapses found on the company's part,
including those related to frauds, inventory and asset management,
outstanding dues and compliance to statutory regulations.
RBI releases draft Guidelines on Managing Risks and Code of Conduct in
Outsourcing of Financial Services by NBFCs.
MARKET UPDATES
SENSEX
28,879.38 -5.83
CNX NIFTY
8,780.35 2.05
DOLLAR/ RUPEE
62.31 0.06
MCX SILVER
36,735.00 452.00
MCX GOLD
26,795.00 274.00
MCX CRUDE OIL
3,217.00 2.00
Dow Jones Industrial
average
18,057.65 98.92
Nasdaq Composite
4,995.98 21.41
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