The document summarizes updates from RBI regarding distressed assets, KYC norms, and risk weights for calculating capital adequacy ratios. It also mentions draft orders from the Ministry of Corporate Affairs regarding the amalgamation of two companies and a SEBI circular modifying client codes for non-institutional trades on stock exchanges. Brief details are provided about the Dainik Jagran newspaper group in India, including its founder, reach across states, and the philosophy of its head Mahendra Mohan Gupta in managing the large family business across generations.

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THOUGHT OF THE DAY
HAPPY DIWALI
“May this festival of lights brighten up your life with success, happiness and prosperity.”
Law Updates:
 RBI issued Framework for Revitalising Distressed Assets in the Economy – Review of the Guidelines on Joint Lenders’ Forum (JLF) and Corrective Action Plan (CAP) vide notification no- RBI/2014-15/271 DBOD.BP. BC. No.45/21. 04.132/ 2014-15 dated October 21, 2014 to All Scheduled Commercial Bank (excluding RRBs) All-India Term-lending and Refinancing Institutions
(Exim Bank, NABARD, NHB and SIDBI)
 Vide RBI notification no-RBI/2014-15/269 DBOD. AML. BC. No. 44/14.01.001/2014-1 dated October 21, 2014, Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) guidelines – clarifications on periodic updation of low risk customers, non-requirement of repeated KYC for the same customer to open new accounts and partial freezing of KYC non-compliant accounts.
 RBI issued RRBs - Risk Weights for Calculation of CRAR vide notification no- RBI/2014-15/270 RPCD.CO. RRB.BC. No. 35/03. 05.33/2014-15 dated October21,2014.
PROFESSIONALS INPUTS:
 Draft Order of amalgamation of National Spot Exchange Limited with Financial Technologies (India) Limited under Section 396 of the Companies Act, 1956 issued by the Ministry of Corporate Affairs on 21-10-2014
 SEBI issued CIRCULAR ref CIR/MRD/DP/29/2014 dated October 21, 2014 To All Stock exchanges and Clearing corporations, All Stock brokers through stock exchanges regarding Modification of client codes of non-institutional trades executed on stock exchanges (All Segments)
MARKET WATCH:
SENSEX: 26781.35205.70 NIFTY: 7992.9065.15
SILVER:38635.00 -132.00 GOLD (MCX): 27539.00-15.00
USD/INR: 61.22 -0.1 CRUDE OIL: 5072.0047.00
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Date:22nd October 2014

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MAHENDRA MOHAN GUPTA
(Dainik Jagran Group)
DAINIK JAGRAN, Hindi Newspaper Was Declared By the World Association of Newspapers as Having the Highest Readership in the World (2010)
JOURNEY SO FAR…
India Today’s Power List 2011 High & Mighty, Guptas have risen to No.31 from No.33 in 2010. The group has editions and sub editions. In addition they have a chain of English, Urdu and Gujarati newspapers with a combined readership of about 62 million. Founded in the year 1942 – a time when the freedom struggle of India reached its crescendo and found expression in the Quit India movement. Dainik Jagran was launched with the vision of its founder, Puran Chandra Gupta, to “Create a newspaper that would reflect the free voice of the people.” This vision was as much a reflection of the times when it was propounded as it is today – when Dainik Jagran markets control the political destiny of the largest democracy in the world.
What began as a small step during the freedom struggle, today translates into one of India’s largest media conglomerates with interests spanning across Newspapers, Magazines, Outdoors, BTL Activation, Mobile VAS, Internet and Radio. The flagship brand Dainik Jagran is published out of 37 editions spread across 11 states covering 50% of India. The company went public in 2006.
It is one of the finest examples of entrepreneurship of India and more so when the Guptas extended family consists of 40 family members of six brothers under one roof. MMG is the Rajya Sabha member as well as head of the clan which is his priority No1. There are 10 brothers (they don’t call themselves cousins) in the third generation and a fourth one is joining the group in various capacities.
Managing a family business (four generations) is far more difficult than managing a professional company. We know about the Ambani brothers; the Singh family (Ranbaxy) and many more such families and it is just “music to the ears” when the Guptas are doing so well financially and socially. Each family member has his or her own identity and chemistry and it should be one of the finest examples of joint family system.
HIS PHILOSOPHY
• Make your extended family your partners in family business
• Have a flagship brand/ activity/business
• Identify and exploit niche market