Newsletter dated 17th April, 2015

1. THOUGHT OF THE DAY
“Leadership and learning are indispensable to each other…”
ECONOMIC UPDATES
 RBI decided as an interim measure, to implement the Interest Subvention
Scheme for for Short-term Crop Loans 2015-16, till JUNE 30, 2015, on the
terms and conditions approved for the Scheme for 2014-15.( RBI/2014-
15/557 FIDD.No.FSD.BC.53/05.04.02/2014-15).
 Finance Minister Arun Jaitley shares his words today that The
implementation of the landmark goods and services tax (GST) regime
proposed from April 1 next year would increase India's GDP by one to two
per cent. As the country has already hit 7.5-8 per cent growth, it is very
much possible to achieve a double digit growth.
SEBI/CORPORATE UPDATES
 According to reports, The merger of Bharti Retail with Kishore Biyani’s
Future group is expected to be a win-win proposition. The Mittals of the
Bharti group are expected to receive minority stakes in the combined
entity or in the Biyani-promoted holding company.
 Broking firm India Infoline (IIFL) will shortly move the high court here
with a defamation suit against scam-hit National Spot Exchange and its
joint managing director, Prakash Chaturvedi, for damages of Rs 500 crore.
RBI/TAX LAW UPDATES
 Vide Notification RBI/2014-2015/556 DCBR. CO RCB.No. BC.29/
19.51.00/2014-15 dated April 16, 2015 decided that the State Co-operative
Banks may be allowed to install Off-site ATMs/Mobile ATMs as per their
need and potential in their area of operation without prior permission
from RBI.
 Vide Notification No.38/2015-CUSTOMS (N.T.) dated April 16, 2015 the
Central Board of Excise and Customs determined that the rate of
exchange of conversion of each of the foreign currency specified in
column (2) of each of Schedule I and Schedule II annexed hereto into
Indian currency or vice versa shall, with effect from 17thApril, 2015.
 The Central Board of Direct Taxes hereby makes the rules called The
Income-tax (Seventh Amendment) Rules, 2015 shall be deemed to have
come into force with effect from the 1st day of April, 2015 by which ITR 1,
ITR 2 & ITR 4S for A.Y.2015-16 released by CBDT.
MARKET UPDATES
SENSEX
28,592.81 -73.23
CNX NIFTY
8,659.95 -46.75
DOLLAR/ RUPEE
62.35 0.04
MCX SILVER
36,450.00 -37.00
MCX GOLD
26,681.00 36.00
MCX CRUDE OIL
3,503.00 -56.00
Dow Jones Industrial
average
18,105.77 -6.84
Nasdaq Composite
5,007.79 -3.23
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