Newsletter dated 26th February, 2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
26th
February,2015
THOUGHT OF THE DAY
“Whatever the mind of man can conceive and believe, it can achieve”
ECONOMIC UPDATES
 14th Finance Commission recommendations as a "watershed" in the
history of Indian federalism that will provide more fiscal autonomy to
states and ultimately benefit the common man.
 The Centre, on an application by the developer, extended the validity
period of the letter of approval and has given more time to 211 special
economic zone (SEZ) developers during the last three years to execute
their projects.
SEBI/CORPORATE UPDATES
 The Central Government published The Companies (Declaration and
Payment of Dividend) Amendment Rules, 2015 dated February 24, 2015.
 Vide Notification ref. F. No. 01/16/2013 (Part-I) CL-V dated 24-2-2015,
MCA has amended the Companies (Registration Offices and Fees)
Amendment Rules, 2015 whereby Rule 10 has been amended to include
sub rule 7 which provides for submission of further/ additional
information/ documents called for, in respect of application/ e-form/
document filed electronically with the MCA in Form No. GNL – 4.
 Vide PR No. 44/2015 dated February 25, 2015, SEBI has issued Frequently
Asked Questions (FAQs) on the applicability of SEBI (Investment
Advisers) Regulations, 2013 to address the queries of various market
participants on its applicability and interpretation.
RBI/TAX LAW UPDATES
 Ministry of External Affairs (MEA), UNP Division has forwarded 4th
update dated February 19, 2015 regarding addition of one entry to the
sanction list.
 Vide Notification RBI/2014-15/477 FIDD.CO.Plan.BC 50/ 04.09.01/ 2014-
15 decided that overdrafts extended by banks uptoRs. 5,000/- in Pradhan
Mantri Jan-Dhanb Yojana (PMJDY) accounts will be eligible for
classification under priority sector advances (‘others’ category) as also
weaker sections, provided the borrowers household annual income does
not exceed Rs. 60,000/- for rural areas and Rs. 1,20,000/- for non-rural
areas.
MARKET UPDATES
SENSEX
29,942.24 -65.75
CNX NIFTY
8,748.60 -18.65
DOLLAR/ RUPEE
61.95 -0.02.
MCX SILVER
36,445.00 471.00
MCX GOLD
26,259.00 136.00
MCX CRUDE OIL
3,123.00 1.00
Dow Jones Industrial
average
18,224.57 15.38
Nasdaq Composite
4,967.14 -0.98
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