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Pgc newsletter 7 th august, 2014


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Pgc newsletter 7 th august, 2014

  1. 1. PGC NEWSLETTER 7TH AUG, 2014 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." SEBI/COMPANIES UPDATES · 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 raise cash. · 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). MARKET UPDATES SENSEX 25,626.94 - 35.33 CNX NIFTY 7,660.75 - 11.30 DOLLAR/ RUPEE 61.28 - 0.23 MCX SILVER 43,973.0 0.12 MCX GOLD 28,598.0 - 35.0 MCX CRUDE OIL 5,963.0 0.08 Dow Jones Industrial Average 16,443.0 14.0 Nasdaq Composite 4,355.0 2.0 WWW.PROGLOBALCORP.COM