PGC NEWSLETTER 14TH AUG, 2014 1
THOUGHT OF THE DAY
“THE WORDS THAT ENLIGHTEN THE SOUL ARE MORE PRECIOUS THAN
• MCA (Ministry of Corporate Affairs)- In exercise of the powers conferred under
sections 173,175, 177, 178, 179, 184, 185, 186, 187, 188, 189 and section 191
read with section 469 of the Companies Act, 2013 (18 of 2013), the
Central Government hereby makes the following rules to amend the
Companies (Meetings of Board and its Powers) Rules, 2014.
• The Airport Economic Authority Regulatory Authority Appellate Tribunal has upheld the
Mumbai airport's decision to penalise private jets and chartered planes for staying
beyond 48 hours.
• Reliance Communications (RCom), reported a 21.4 per cent increase in net profit during
the quarter ended June at Rs 132 crore, backed by higher voice call rates.
• Directorate General of Civil Aviation (DGCA) has decided to conduct surprise checks on
Indian and international scheduled carriers as well as non-scheduled operators every
month, in a move aimed at ensuring better safety for flyers.
• State-run fertliser maker RCF is planning to set up a subsidiary 'RCF Videsh' that will
specifically focus on ventures and assets abroad where feedstock natural gas is cheap or
raw materials like phosphate are available in abundance.
RBI / TAX LAW UPDATES
• RBI/2014-15/175 DBOD. AML. No. 2472/14.06.001/2014-15, Implementation of Section
51-A of UAPA, 1967 – Updates of the UNSCR 1988(2011) Taliban Sanctions List.
• RBI/2014-15/176 DBOD.AML.No.2476/14.06.001/2014-15, Implementation of Section
51-A of UAPA, 1967- Updates of the UNSCR 1267(1999) / 1989(2011) Committee's Al
Qaida Sanctions List.
• RBI/2014-15/182 DBOD.No.BP.BC.33/21.04.048/2014-15, Prudential Norms on
Income Recognition, Asset Classification and Provisioning Pertaining to Advances -
Projects under Implementation.
• RBI/2014-15/179 DPSS.CO.PD.No. 316/02.10.002/2014-2015, Usage of ATMs –
Rationalisation of number of free transactions.
60.76 - 0.04
43,300.0 - 0.04
28,610.0 - 78.0
MCX CRUDE OIL
5,827.0 - 2.07
Dow Jones Industrial