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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“A single twig breaks, but the bundle of twigs is strong.”
Law Updates:
 Finance Committee of Parliament has called for immediate
forensic audit of all restructured loans that had turned into bad
debts and asked RBI to prepare guidelines for the process.
 India has more than 15 lakh registered companies but only around
10.7 lakh were active, as per the latest data compiled by the
Ministry of Corporate Affairs.
 The XBRL International, the global custodian of the eXtensible
Business Reporting Language (XBRL) standard awarded the
‘XBRL International Award for Excellence’ to the Reserve
Bank of India (RBI). The award has been given to the Reserve
Bank in recognition of its efforts in ‘Innovation and Continuous
Pursuit of Improvement in Regulatory Reporting'.
 Terming the current pace of taxpayers’ grievance redressal process
as “unsatisfactory”, the Central Board of Direct Taxes (CBDT) has
asked the Income Tax (IT) department to resolve the complaints
within 2 months.
PROFESSIONALS INPUTS:
 CBEC vide Notification No. 8/2016-Customs dated 5th
February,
2016 has prescribed the conditions under which no duty will be
leviable when goods are imported into India for display or use at an
event specified in Schedule II.
 CBEC vide Notification No. 19/2016 - Customs (N.T.) dated 5th
February, 2016 notifies the countries to be considered as developing
countries for the purposes of the Section 8B(6)(a) of the Customs
Tariff Act, 1975.
MARKET WATCH:
SENSEX: 24616.97 278.54 NIFTY: 7489.10 85.10
SILVER: 35810.00 -19.00 GOLD (MCX): 27538.00 116.00
USD/INR: 67.65 0.08 CRUDE OIL: 2164.00 -17.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 08th
February, 2016
www.csrajivbajaj.com
Larry Page
CEO of Alphabet Inc
Lawrence "Larry" Page (born March 26, 1973) is an American computer
scientist and internet entrepreneur who co-founded Google Inc. with
Sergey Brin, and is the CEO of Google's parent company, Alphabet Inc.
After stepping aside as CEO in August 2001 in favour of Eric Schmidt,
Page re-assumed the role in April 2011. He announced his intention to step
aside a second time in July 2015 to become CEO of Alphabet, under
which Google's assets would be reorganized. Under Page, Alphabet is
seeking to deliver major advancements in a variety of industries. Page is
the inventor of PageRank, Google's best-known search ranking algorithm.
Page is a board member of the X Prize Foundation (XPRIZE) and was
elected to the National Academy of Engineering in 2004. Page received the Marconi Prize in 2004
Early life and background
Page was born in East Lansing, Michigan, United States (U.S.). His father, Carl Vincent Page, Sr., earned a
PhD in computer science from the University of Michigan in 1965, when the field was being established, and
has been described by BBC reporter Will Smale as a "pioneer in computer science and artificial intelligence."
He was a computer science professor at Michigan State University and Page's mother, Gloria, was an instructor
in computer programming at Lyman Briggs College at Michigan State University. Page's mother is Jewish, but
he was not raised in a religious household and "does not readily identify as a Jew."
During an interview, Page recalled his childhood, noting that his house "was usually a mess, with computers,
science and technology magazines and Popular Science magazines all over the place", an environment in which
he immersed himself. Page was an avid reader during his youth, writing in his 2013 Google founders letter that
"I remember spending a huge amount of time poring over books and magazines". According to writer Nicholas
Carlson, the combined influence of Page's home atmosphere and his attentive parents "fostered creativity and
invention". Page also played saxophone and studied music composition while growing up. Page has mentioned
that his musical education inspired his impatience and obsession with speed in computing. "In some sense I feel
like music training led to the high-speed legacy of Google for me,". In an interview Page said that "In music
you’re very cognizant of time. Time is like the primary thing" and that "If you think about it from a music point
of view, if you’re a percussionist, you hit something, it’s got to happen in milliseconds, fractions of a second".
Page was first attracted to computers when he was six years old, as he was able to "play with the stuff lying
around"—first-generation personal computers—that had been left by his parents.He became the "first kid in his
elementary school to turn in an assignment from a word processor". His older brother also taught him to take
things apart and before long he was taking "everything in his house apart to see how it worked". He said that
"from a very early age, I also realized I wanted to invent things. So I became really interested in technology and
business. Probably from when I was 12, I knew I was going to start a company eventually."
Page attended the Okemos Montessori School (now called Montessori Radmoor) in Okemos, Michigan, from
1975 to 1979, and graduated from East Lansing High School in 1991. He attended Interlochen Center for the
Arts as a saxophonist for two summers while in high school. Page holds a Bachelor of Science in computer
engineering from the University of Michigan, with honors and a Master of Science in computer science from
Stanford University. While at the University of Michigan, Page created an inkjet printer made of Lego bricks
(literally a line plotter), after he thought it possible to print large posters cheaply with the use of inkjet
cartridges—Page reverse-engineered the ink cartridge, and built all of the electronics and mechanics to drive it.
Page served as the president of the Beta Epsilon chapter of the Eta Kappa Nu fraternity, and was a member of
the 1993 "Maize & Blue" University of Michigan Solar Car team.As an undergrad at the University of
Michigan, he proposed that the school replace its bus system with something he called a "PRT," or "personal
rapid transit system," which was essentially a driverless monorail with separate cars for every passenger.He also
developed a business plan for a company that would use software to build a music synthesizer during this time.

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Newsletter dated 08th February, 2016

  • 1. www.csrajivbajaj.com THOUGHT OF THE DAY THOUGHT OF THE DAY “A single twig breaks, but the bundle of twigs is strong.” Law Updates:  Finance Committee of Parliament has called for immediate forensic audit of all restructured loans that had turned into bad debts and asked RBI to prepare guidelines for the process.  India has more than 15 lakh registered companies but only around 10.7 lakh were active, as per the latest data compiled by the Ministry of Corporate Affairs.  The XBRL International, the global custodian of the eXtensible Business Reporting Language (XBRL) standard awarded the ‘XBRL International Award for Excellence’ to the Reserve Bank of India (RBI). The award has been given to the Reserve Bank in recognition of its efforts in ‘Innovation and Continuous Pursuit of Improvement in Regulatory Reporting'.  Terming the current pace of taxpayers’ grievance redressal process as “unsatisfactory”, the Central Board of Direct Taxes (CBDT) has asked the Income Tax (IT) department to resolve the complaints within 2 months. PROFESSIONALS INPUTS:  CBEC vide Notification No. 8/2016-Customs dated 5th February, 2016 has prescribed the conditions under which no duty will be leviable when goods are imported into India for display or use at an event specified in Schedule II.  CBEC vide Notification No. 19/2016 - Customs (N.T.) dated 5th February, 2016 notifies the countries to be considered as developing countries for the purposes of the Section 8B(6)(a) of the Customs Tariff Act, 1975. MARKET WATCH: SENSEX: 24616.97 278.54 NIFTY: 7489.10 85.10 SILVER: 35810.00 -19.00 GOLD (MCX): 27538.00 116.00 USD/INR: 67.65 0.08 CRUDE OIL: 2164.00 -17.00 CS Rajiv Bajaj 9811453353 Bajajr66@gmail.com youtube.com/csrajivbajaj https://www.facebook.com/Rajiv 1Bajaj http://www.csrajivbajaj.com Date: 08th February, 2016
  • 2. www.csrajivbajaj.com Larry Page CEO of Alphabet Inc Lawrence "Larry" Page (born March 26, 1973) is an American computer scientist and internet entrepreneur who co-founded Google Inc. with Sergey Brin, and is the CEO of Google's parent company, Alphabet Inc. After stepping aside as CEO in August 2001 in favour of Eric Schmidt, Page re-assumed the role in April 2011. He announced his intention to step aside a second time in July 2015 to become CEO of Alphabet, under which Google's assets would be reorganized. Under Page, Alphabet is seeking to deliver major advancements in a variety of industries. Page is the inventor of PageRank, Google's best-known search ranking algorithm. Page is a board member of the X Prize Foundation (XPRIZE) and was elected to the National Academy of Engineering in 2004. Page received the Marconi Prize in 2004 Early life and background Page was born in East Lansing, Michigan, United States (U.S.). His father, Carl Vincent Page, Sr., earned a PhD in computer science from the University of Michigan in 1965, when the field was being established, and has been described by BBC reporter Will Smale as a "pioneer in computer science and artificial intelligence." He was a computer science professor at Michigan State University and Page's mother, Gloria, was an instructor in computer programming at Lyman Briggs College at Michigan State University. Page's mother is Jewish, but he was not raised in a religious household and "does not readily identify as a Jew." During an interview, Page recalled his childhood, noting that his house "was usually a mess, with computers, science and technology magazines and Popular Science magazines all over the place", an environment in which he immersed himself. Page was an avid reader during his youth, writing in his 2013 Google founders letter that "I remember spending a huge amount of time poring over books and magazines". According to writer Nicholas Carlson, the combined influence of Page's home atmosphere and his attentive parents "fostered creativity and invention". Page also played saxophone and studied music composition while growing up. Page has mentioned that his musical education inspired his impatience and obsession with speed in computing. "In some sense I feel like music training led to the high-speed legacy of Google for me,". In an interview Page said that "In music you’re very cognizant of time. Time is like the primary thing" and that "If you think about it from a music point of view, if you’re a percussionist, you hit something, it’s got to happen in milliseconds, fractions of a second". Page was first attracted to computers when he was six years old, as he was able to "play with the stuff lying around"—first-generation personal computers—that had been left by his parents.He became the "first kid in his elementary school to turn in an assignment from a word processor". His older brother also taught him to take things apart and before long he was taking "everything in his house apart to see how it worked". He said that "from a very early age, I also realized I wanted to invent things. So I became really interested in technology and business. Probably from when I was 12, I knew I was going to start a company eventually." Page attended the Okemos Montessori School (now called Montessori Radmoor) in Okemos, Michigan, from 1975 to 1979, and graduated from East Lansing High School in 1991. He attended Interlochen Center for the Arts as a saxophonist for two summers while in high school. Page holds a Bachelor of Science in computer engineering from the University of Michigan, with honors and a Master of Science in computer science from Stanford University. While at the University of Michigan, Page created an inkjet printer made of Lego bricks (literally a line plotter), after he thought it possible to print large posters cheaply with the use of inkjet cartridges—Page reverse-engineered the ink cartridge, and built all of the electronics and mechanics to drive it. Page served as the president of the Beta Epsilon chapter of the Eta Kappa Nu fraternity, and was a member of the 1993 "Maize & Blue" University of Michigan Solar Car team.As an undergrad at the University of Michigan, he proposed that the school replace its bus system with something he called a "PRT," or "personal rapid transit system," which was essentially a driverless monorail with separate cars for every passenger.He also developed a business plan for a company that would use software to build a music synthesizer during this time.