Pgc newsletter dated 12th february, 2015
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The newsletter provides updates on economic, RBI, tax law, and market topics. It notes that the Export-Import Bank of India has entered an agreement to provide Gambia with a $22.5 million line of credit for an electrification project. It also discusses the need to prioritize infrastructure investment to achieve collective growth objectives. Several regulatory circulars and notifications are summarized, including updates to anti-money laundering laws and drawback rules. Stock indexes and currency values are listed.
![PGC NEWSLETTER 1
PGC
NEWSLETTER
12th
February, 2015
THOUGHT OF THE DAY
“Leadership is the capacity to translate vision into reality”
ECONOMIC UPDATES
Export-Import Bank of India has entered into an Agreement with the
Government of the Republic of Gambia for making available Exim Bank's
Line of Credit of USD 22.50 million to the Government of the Republic of
Gambiafor the purpose of financing electrification expansion project.(Ref-
RBI//2014-15/464 A.P. (DIR Series) Circular No.75)
The Minister of State for Finance Shri Jayant Sinha shares his words that
A Very High Priority Needs to be given to Investment Including
Investment in Infrastructure to Achieve G-20's Collective Growth
Objectiveand emphasized on improving the public investment processes.
RBI/TAX LAW UPDATES
VideRBI Notification ref RBI/2014-15/465 DNBR (PD).CC.No.020/
03.10.42/2014-15 dated February 11, 2015 notified to all NBFCs
regarding Implementation of Section 51-A of UAPA, 1967- Updates of the
UNSCR 1267(1999)/1989(2011) Committee’s Al Qaida Sanctions List.
The Reserve Bank of India with the responsibility of regulating and
supervising the Non-Banking Financial Companiesissued FAQ on
Systemically Important Core Investment Companies (CICs-ND-SI)dated
February 11, 2015.
Circular No 02/2015 F. No. 385/03/2015-IT(B) dated February 10, 2015
issued by CBDT, The Board has decided that no interest under section
234A of the Act is chargeable on the amount of self-assessment tax paid by
the assessee before the due date of filing of return of income.
Notification No. 21/2015 - Customs (N.T.) dated the 10th February, 2015
issued by CBEC Seeks to make certain changes in AIR Drawback Schedule.
Notification No. 20/2015 - Customs (N.T.) dated the 10th February, 2015
issued by CBEC Seeks to amend Drawback Rules 1995.
In CCE, Panchkula vs. M/s. Krishna Cylinders [2015 (1) TMI 1197 –
CESTAT NEW DELHI], it was held that No penalty could be imposed
when the amount of Service tax has been paid along with interest before
issuance of Show Cause Notice.
HISTORICAL EVENT
Japan makes its first television broadcast–a baseball game.
MARKET UPDATES
SENSEX
28,510.34 -23.63
CNX NIFTY
8,623.35 -4.05
DOLLAR/ RUPEE
62.42 0.16.
MCX SILVER
37,147.00 -250.00
MCX GOLD
26,615.00 -50.00
MCX CRUDE OIL
3,100.00 25.00
Dow Jones Industrial
average
17,862.14 -6.62
Nasdaq Composite
4,801.18 13.54
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Pgc newsletter dated 12th february, 2015
- 1. PGC NEWSLETTER 1 PGC NEWSLETTER 12th February, 2015 THOUGHT OF THE DAY “Leadership is the capacity to translate vision into reality” ECONOMIC UPDATES Export-Import Bank of India has entered into an Agreement with the Government of the Republic of Gambia for making available Exim Bank's Line of Credit of USD 22.50 million to the Government of the Republic of Gambiafor the purpose of financing electrification expansion project.(Ref- RBI//2014-15/464 A.P. (DIR Series) Circular No.75) The Minister of State for Finance Shri Jayant Sinha shares his words that A Very High Priority Needs to be given to Investment Including Investment in Infrastructure to Achieve G-20's Collective Growth Objectiveand emphasized on improving the public investment processes. RBI/TAX LAW UPDATES VideRBI Notification ref RBI/2014-15/465 DNBR (PD).CC.No.020/ 03.10.42/2014-15 dated February 11, 2015 notified to all NBFCs regarding Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1267(1999)/1989(2011) Committee’s Al Qaida Sanctions List. The Reserve Bank of India with the responsibility of regulating and supervising the Non-Banking Financial Companiesissued FAQ on Systemically Important Core Investment Companies (CICs-ND-SI)dated February 11, 2015. Circular No 02/2015 F. No. 385/03/2015-IT(B) dated February 10, 2015 issued by CBDT, The Board has decided that no interest under section 234A of the Act is chargeable on the amount of self-assessment tax paid by the assessee before the due date of filing of return of income. Notification No. 21/2015 - Customs (N.T.) dated the 10th February, 2015 issued by CBEC Seeks to make certain changes in AIR Drawback Schedule. Notification No. 20/2015 - Customs (N.T.) dated the 10th February, 2015 issued by CBEC Seeks to amend Drawback Rules 1995. In CCE, Panchkula vs. M/s. Krishna Cylinders [2015 (1) TMI 1197 – CESTAT NEW DELHI], it was held that No penalty could be imposed when the amount of Service tax has been paid along with interest before issuance of Show Cause Notice. HISTORICAL EVENT Japan makes its first television broadcast–a baseball game. MARKET UPDATES SENSEX 28,510.34 -23.63 CNX NIFTY 8,623.35 -4.05 DOLLAR/ RUPEE 62.42 0.16. MCX SILVER 37,147.00 -250.00 MCX GOLD 26,615.00 -50.00 MCX CRUDE OIL 3,100.00 25.00 Dow Jones Industrial average 17,862.14 -6.62 Nasdaq Composite 4,801.18 13.54 http://www.proglobalcorp.com