The document provides economic, market, RBI, and tax law updates. It mentions that India will provide a roadmap to lower the corporate tax rate to 25% in four years by ending exemptions. It notes that EPFO has decided to invest 5% of its corpus of Rs. 100,000 crore in exchange traded funds issued by SBI Mutual Fund. It also lists several notifications issued by RBI and tax authorities regarding various reporting, filing, and regulatory guidelines for banks, including on maintenance of reserves and deposit accounts for primary cooperative banks. Market indexes such as Sensex, Nifty, gold and silver prices are also given.

1. THOUGHT OF THE DAY
“The best way to make your dreams come true is to wake
up…”
ECONOMIC UPDATES
 India will provide a roadmap for ending corporate tax exemptions in next
45 days, Revenue Secretary Shaktikanta Das said on Wednesday, as part of
a plan to lower the tax rate to 25 per cent in four years.
 EPFO draws up plan to invest in stock markets and has decided to invest
five per cent of its incremental corpus of Rs 1,00,000 crore in exchange-
traded funds issued by SBI Mutual Fund in 2015-16.
RBI/TAX LAW UPDATES
 Vide Notification RBI/2015-16/1 DCBR.CO. BPD. MC.No. 1/12.05.001/
2015-16 notified the Master Circular on 'Frauds-Classification and
Reporting'.
 Vide DVAT No.F.3(352)Policy/VAT/2013/346-357 dated 30/06/2015
notified regarding extension of date for filing DP-I shall be submitted
online by all the dealers latest by 31/08/2015.
 Vide Master Circular RBI/2015-16/2 DCBR.BPD (PCB/RCB) Cir.No.2/
14.01.062/2015-16 notified to All Primary (Urban) Co-operative Banks
the banks should have atleast two directors with suitable banking
experience (at middle/senior management level) or with relevant
professional qualification in the fields of law, accountancy or finance.
 Vide Master Circular RBI/2015-16/3 DCBR.CO.BPD.(PCB).MC.No. 3/
12.05.001/2015-16 issued guidelines regarding Inspection & Audit Systems
in Primary (Urban) Co- operative Banks.
 Vide Masterr Circular RBI/2015-16/4 DCBR.BPD.(PCB). MC.No.
5/12.03.000/2015-16 issued guidelines on Maintenance of Statutory
Reserves - Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)
by Primary (Urban) Co-operative Banks. The CRR prescribed by the
Reserve Bank is 4.0 per cent of a bank's total of demand and time
liabilities and it has been decided to reduce the SLR for all Urban Co-
operative Banks from 25.00 per cent to 22.50 per cent of their total
demand and time liabilities.
 Vide Notification RBI/2015-16/5 DCBR.BPD.(PCB). MC.No: 6/ 13.01.000/
2015-16 issued guidelines on Maintenance of Deposit Accounts – Primary
(Urban) Co-operative Banks.
MARKET UPDATES
SENSEX
27,975.01 194.18
CNX NIFTY
8,435.25 66.75
DOLLAR/ RUPEE
63.65 -0.2
MCX SILVER
35,630.00 94.00
MCX GOLD
26,494.00 23.00
MCX CRUDE OIL
3,753.00 -23.00
Dow Jones Industrial
average
17,619.5 23.16
Nasdaq Composite
4986.87 28.40
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