1. PGC NEWSLETTER 1
PGC
NEWSLETTER
16th
June, 2015
THOUGHT OF THE DAY
“ The Road to Success Comes through Hardwork, Determination
and Sacrifice ...”
ECONOMIC UPDATES
The empowered committee of state finance ministers on GST (Goods
and Services Tax) will submit its views on Tuesday to the
parliamentary panel looking into the constitutional amendment Bill for
introduction of a new indirect tax regime. Centre proposes to roll out
Goods and Services Tax from April 2016.
The Bank for International Settlements, the apex bank for all central
banks, has complimented the Indian banking authorities for their
substantial reforms and alignment with the Basel framework.
According to BIS’ Regulatory Consistency Assessment Programme
(RCAP), which evaluates a country’s readiness for Basel III norms,
“The risk-based capital requirements issued in July 2014 are assessed
as compliant with the minimum Basel capital standards. All 14
components of the Basel framework included in the assessment have
been assessed as compliant.” Observing that the additional regulatory
initiatives undertaken by the RBI improved the level of compliance, it
said that the assessment would have generated a relatively less positive
result in the absence of these changes.
SEBI/CORPORATE UPDATES
Govt. enacts Bihar Finance Act, 2015.
Vide Notification No 11/2015-2020 dated 15.06.2015 issued by DGFT,
DGFT made the Provision for Import, auction/sale and re-export of
rough diamonds in Special Notified Zone (SNZ) is notified.
SEBI might soon clear the air over exercising ESOP’s in light of the
insider trading regulations that came into effect last month. The new
rules on insider trading prohibit an employee from buying and selling a
share within a period of six months. This has raised doubts over
dealing (buying or selling) in shares pursuant to six months of ESOP’s,
known as contra trade. The stock market regulator plans to allow such
trades with the pre-clearance of a company-appointed compliance
offer.
Anil Ambani-led Reliance Communications and Russian telecom
operator AFK Sistema have entered into exclusive discussions on a
merger between the Indian telecom business of Sistema Shyam
TeleServices and RCOM through a stock swap. Under the deal, RCOM,
India's fourth-biggest telecom company, will merge the MTS India
operations of SSTL into itself. In turn SSTL will pick up a stake in
RCOM.
MARKET UPDATES
SENSEX
26,494.95 -91.60
CNX NIFTY
7,985.50 -28.40
DOLLAR/ RUPEE
64.14 -0.03.
MCX SILVER
36,967.00 -125.00
MCX GOLD
27,011.00 -18.00
MCX CRUDE OIL
3,860.00 42.00
Dow Jones Industrial
average
17,791.17 -107.67
Nasdaq Composite
5,029.97 -21.13
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