1. THOUGHT OF THE DAY
“Things turn out best for the people who make the best of
the way things turn out…”
ECONOMIC UPDATES
The RBI, representatives of Indian Banks' Association (IBA) and the law
enforcement agencies have begun working on a standard reporting format
for banks to share investigation-related information after central agencies
like Intelligence Bureau (IB) and Central Bureau of Investigation (CBI)
complained about receiving data in different formats making deciphering
difficult.
India Inc's profit-to-GDP ratio fell for the fifth consecutive year, slipping to
4.1 per cent in the year ended March 31, against the 10-year average of 5.3
per cent. The ratio has been in the range of 9-14 per cent in developed
economies and 5-8 per cent in emerging markets.
SEBI/CORPORATE UPDATES
Vide SEBI CIR/MRD/DP/12/2015 dated June 26, 2015 In order to
enhance more retail participation in the OFS process and to simplify the
bidding process for retail investors, it has been decided that OFS notice
shall continue to be given latest by 5 pm on T-2 days. However T-2 days
shall be reckoned from banking day instead of trading day. It would be
mandatory for sellers to provide the option to retail investors to place their
bids at cut off price in addition to placing price bids.
The Institute of Company Secretaries of India (ICSI) makes an
announcement that the Secretarial Standards on ‘Meetings of the Board of
Directors’ [“SS-1”] and ‘General Meetings’ [“SS-2”] collectively referred to
as the Secretarial Standards shall come into effect from 1st July, 2015.
RBI/TAX LAW UPDATES
Use online tax calculator to file ITR for assessment year 2015-16.
With the new Income Tax Return (ITR) forms being recently notified for
assessment year 2015-16, filers can do an easy check of their annual tax
liability on a new computer-based 'calculator' launched by the CBDT.
The Reserve Bank of India has today placed on its website for
comments/feedback, the draft guidelines on writing of covered options by
resident exporters and importers against their contracted exposures.
Comments/feedback may be e-mailed or sent by post to the Chief General
Manager, Financial Markets Regulation Department.
MARKET UPDATES
SENSEX
27,358.96 -452.88
CNX NIFTY
8,236.60 -144.50
DOLLAR/ RUPEE
63.64 0.01
MCX SILVER
36,394.00 426.00
MCX GOLD
26,765.00 241.00
MCX CRUDE OIL
3,760.00 -55.00
Dow Jones Industrial
average
17,946.68 56.32
Nasdaq Composite
5,080.51 -31.68
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