PGC NEWSLETTER 11, April 2014

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PGC NEWSLETTER 11, April 2014

  1. 1. PGC NEWSLETTER11th April 2014 1 PGC NEWSLETTER 11th April 2014 THOUGHT OF THE DAY “The way to get started is to quit talking and begin doing.” ECONOMICS NEWS  Ajay Piramal sold his 11 per cent stake in Vodafone India, reaping awindfall of 52 per cent return in just two years.  The Sebi Keen to Curb HFT Traders from ‘Crowding Out’ Others.  The nation's largest lender, State Bank of India has hit the foreign bond market with a dual tranche benchmark issue of five-year and 10-year maturity to raise up to $1-billion. CORPORATE LAW UPDATES  Capital markets watchdog Sebi is in process of cracking its whip soon on various illicit money-pooling schemes in West Bengal, which has already seen regulatory actions against some entities linked to Saradha and Rose Valley groups.  SEBI issues Circular (CIR/IMD/FIIC/8/2014) for Change in investment conditions / restrictions for FII/QFI investments in government debt securities. RBI / TAX LAW UPDATE  The Reserve Bank of India (RBI) has come down heavily on banks for charging different interest rates to customers with similar profiles, saying such discrimination cannot be accepted.  The Reserve Bank of India ( RBI) releases Draft Report on ‘Working Group on Pricing of Credit.’  The Reserve Bank of India (RBI) issues Circular (A.P.(DIR Series) Circular No. 120/121/122) in respect of Rupee Drawing Arrangement – ‘Direct to Account’ Facility, External Commercial Borrowing (ECB) Policy,Trade Credits for Imports into India – Review of all-in-cost ceiling respectively. www.proglobalcorp.wordpress.com MARKET UPDATES SENSEX 22,560.55 -154.78 CNX NIFTY 6,753.75 -42.65 DOLLAR/ RUPEE 60.26 0.17 MCX SILVER 43290.0 -0.46 MCX GOLD 28,769.00 -12.00 MCX CRUDE OIL 6224.0 -0.35 Dow Jones Industrial Average 16,170.22 -266.96 Nasdaq Composite 4054.11 -129.79

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