PGC NEWSLETTER 7TH AUG, 2014
THOUGHT OF THE DAY
“LIFE IS A JUST LIKE A TEXT BOOK. EVERY DAY IS A CHAPTER. IF YOU WRITE
THE CHAPTERS OF LIFE IN A MEANINGFUL AND SEQUENTIAL ORDER,
YOU WILL GET SUCCESS IN YOUR LIFE."
· The Securities Laws (Amendment) Bill, 2014, aims to empower capital market watchdog
Securities and Exchange Board of India (Sebi) by giving powers such as authority to seek
call data records, was Wednesday approved by the Lok Sabha.
· Government Approves Fourteen (14) Proposals of Foreign Direct Investment (FDI)
Amounting to about Rs. 1528.38 Crore.
· GMR Infra is looking to sell its aircraft maintenance facility after buying out its partner's
stake in it, three senior executives said, a move in line with its strategy of selling assets to
· The telecom industry is in a sweet spot as sectoral profitability, excluding taxes and
spectrum payments, is at its highest ever in 20 years, triggered by tariff increases over
the past year and a half amid reduced competition.
· Arch-rivals Samsung and Apple have decided to drop a series of bitter patent disputes
pending in multiple courts outside the United States, the South Korean electronics giant.
RBI / TAX LAW UPDATES
· RBI/2014-15/166 RPCD.RCB.BC.No.22/07.51.020/2014-15, Section 24 of the Banking
Regulation Act, 1949 (AACS) – Maintenance of Statutory Liquidity Ratio (SLR).
· RBI/2014-15/165 RPCD.RRB.BC.No.24/03.05.33/2014-15, Section 24 of the Banking
Regulation Act, 1949 –Maintenance of Statutory Liquidity Ratio (SLR).
· The RBI said ARCs will henceforth have to mandatorily invest and hold minimum 15 per
cent (against 5 per cent earlier) of the Security Receipts issued by them against the assets
acquired from banks on an ongoing basis till the redemption of all the receipts.
· Tax agencies unearth Rs 10,000cr bogus bill scam, In a major crackdown on illegal
transactions, Indian tax agencies have unearthed more than Rs 10,000 crore of tax
evasion due to issuance of fake bills as a part of its ongoing investigations.
Historical Events on 7th August
1944 - IBM DEDICATES THE FIRST PROGRAM-CONTROLLED
CALCULATOR, THE AUTOMATIC SEQUENCE CONTROLLED
CALCULATOR (KNOWN BEST AS THE HARVARD MARK I).
25,626.94 - 35.33
7,660.75 - 11.30
61.28 - 0.23
28,598.0 - 35.0
MCX CRUDE OIL
Dow Jones Industrial