The newsletter provides economic, regulatory, and market updates. Key points include: - The government proposed moving debt management from RBI to a new Public Debt Management Agency and establishing an inflation-targeting Monetary Policy Committee. - Reforms are planned to liberalize FDI norms for NRIs and establish a Micro Units Development and Refinance Agency Bank. - Auditing norms and insurance sector regulations were updated, and service tax registration procedures were simplified. - Market indexes and commodity prices are reported, including losses in MCX gold and crude oil but gains in the Sensex, Nifty, and U.S. markets.

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
3rd
March,2015
THOUGHT OF THE DAY
“The value of an idea lies in the using of it.”
ECONOMIC UPDATES
 The government has proposed to move debt management from RBI to a
Public Debt Management Agency (PDMA) and establish a Monetary Policy
Committee that will also set an inflation target.
 The government is set to liberalise FDI norms for non-resident Indians to
boost capital flows in sectors such as defence and railways.
SEBI/CORPORATE UPDATES
 The government proposes to set up Micro Units Development and
Refinance Agency (MUDRA) Bank with a capital of Rs 20,000 crorethat
would regulate and refinance all micro-finance institutions.
 Hon’ble FM has proposed to amend Sec 288 of the Income Tax Act, 1961 to
provide that an auditor who is not eligible to be appointed as auditor of a
company as per the provisions of sub-section (3) of section 141 of the
Companies Act, 2013 shall not be eligible for carrying out any audit or
furnishing of any report/certificate under any provisions of the Act in
respect of that company.
 Notification dated 28-02-2015 ref F. No. IRDAI/Reg/1/91/2015, issued by
IRDA, IRDA notifies norms on registration of insurance marketing firms.
 Vide Press Note No 3(2015 series) issued by Department of
Industrial Policy and Promotion, Govt. reviews FDI policy in insurance
sector- amendment to “Consolidated FDI Policy Circular of 2014.”
RBI/TAX LAW UPDATES
 Vide Order No. 1/2015 -Service Tax dated 01.03.2015 issued by
CBEC regarding Simplification of Registration Procedures in Service Tax
for a single premises in Form ST-1 which shall come into effect from 1-3-
2015.
 The threshold limit for applicability of transfer pricing regulations to
specified domestic transactions has been increased from Rs. 5 crore to Rs.
20 crore.
HISTORICAL EVENT
 Alexander Graham Bell, inventor of the first telephone as well as other
devices born today.
MARKET UPDATES
SENSEX
29,510.32 51.18
CNX NIFTY
8,965.60 8.85
DOLLAR/ RUPEE
61.84 -0.03.
MCX SILVER
36,690.00 44.00
MCX GOLD
26,485.00 -25.00
MCX CRUDE OIL
3,115.00 -34.00
Dow Jones Industrial
average
18,288.63 155.93
Nasdaq Composite
5,008.10 44.57
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