PGC Newsletter dated 1st October,2014
0 likes207 views
The Reserve Bank of India kept policy rates unchanged and relaxed KYC norms for opening bank accounts. The RBI issued several notifications regarding secondary market transactions in government securities, risk management and interbank dealings, export credit refinance facilities, instruments for augmentation of capital funds, and implementation of the UNSCR 1267 list. Market indices such as the Sensex, Nifty, dollar/rupee exchange rate, and commodity prices such as silver, gold, and crude oil declined.
![PGC NEWSLETTER 1
PGC NEWSLETTER 1st October, 2014
THOUGHT OF THE DAY “Optimism is the most important human trait, because it allows us to evolve our ideas, to improve our situation, and to hope for a better tomorrow.” ECONOMIC NEWS
Reserve Bank keeps policy rates unchanged. The central bank kept the short- term policy indicative rate (Repo rate) unchanged at 8 per cent while keeping the Cash Reserve Ratio (CRR) at 4 per cent.
RBI relaxes KYC norms for opening bank accounts.
RBI / TAX LAW UPDATES
RBI has issued notification vide Notification no- RBI/2014- 15/251IDMD.PCD.06/14. 03.07/2014-15 dated September 30, 2014 to All market participants regarding Secondary market transactions in Government Securities - Short Selling.
RBI has issued notification vide Notification no- RBI/2014-15/250 A.P. (DIR Series) Circular No. 34 dated Sep 30, 2014 to all Category – I Authorized Dealer Banks regarding Risk Management and Inter Bank Dealings : Hedging under Past Performance Route.
RBI has issued notification vide Notification no- RBI/2014-15/249 REF.No.MPD.BC. 374 /07.01.279/2014-15 dated September 30, 2014 to all Scheduled Banks [excluding Regional Rural Banks (RRBs) ] regarding Export Credit Refinance Facilities.
RBI has issued notification vide Notification no- RBI/2014-15/248 RPCD.RCB.BC.No.33/07.51.012/2014-15 dated September 30, 2014 to all State / Central Cooperative Banks (StCBs/CCBs) regarding StCBs/CCBs - Instruments for Augmentation of Capital Funds – Modification
RBI has issued notification vide Notification no- RBI/2014-15/247 RPCD.RRB.RCB.AML.No.3509 /07.51.019/2014-15 dated September 30, 2014 to all Regional Rural Banks / State and Central Co-operative Banks regarding RRBs/StCBs/CCBs - Implementation of Section 51-A of UAPA, 1967 - Updates of the UNSCR 1267(1999) / 1989(2011) Committee's Al-Qaida Sanctions List.
RBI has issued notification vide Notification no- RBI/2014- 15/246DGBA.GAD.No.H -1463/42.01.035/2014 -15 dated September 30, 2014 to all the Chairman & Managing Director / The Chief Executive Officer and all Banks regarding Implementation of Cheque Truncation System (CTS) - Dispensation of the requirement of forwarding of government cheques in physical form to Government - Change in the Memorandum of Instructions for reporting of government transactions.
MARKET UPDATES SENSEX
26,573.31-57.20 CNX NIFTY
7946.85-17.95 DOLLAR/ RUPEE
61.810.04 MCX SILVER 38,495.00-859.00 MCX GOLD 26,987.00-142.00 MCX CRUDE OIL 5,669.00-181.00 Dow Jones Industrial average 17,042.90-28.32 Nasdaq Composite 4,493.39-12.46
http://www.proglobalcorp.com](https://image.slidesharecdn.com/pgcnewsletterdated1stoctober2014-141001014316-phpapp02/85/PGC-Newsletter-dated-1st-October-2014-1-320.jpg)
PGC Newsletter dated 1st October,2014
- 1. PGC NEWSLETTER 1 PGC NEWSLETTER 1st October, 2014 THOUGHT OF THE DAY “Optimism is the most important human trait, because it allows us to evolve our ideas, to improve our situation, and to hope for a better tomorrow.” ECONOMIC NEWS Reserve Bank keeps policy rates unchanged. The central bank kept the short- term policy indicative rate (Repo rate) unchanged at 8 per cent while keeping the Cash Reserve Ratio (CRR) at 4 per cent. RBI relaxes KYC norms for opening bank accounts. RBI / TAX LAW UPDATES RBI has issued notification vide Notification no- RBI/2014- 15/251IDMD.PCD.06/14. 03.07/2014-15 dated September 30, 2014 to All market participants regarding Secondary market transactions in Government Securities - Short Selling. RBI has issued notification vide Notification no- RBI/2014-15/250 A.P. (DIR Series) Circular No. 34 dated Sep 30, 2014 to all Category – I Authorized Dealer Banks regarding Risk Management and Inter Bank Dealings : Hedging under Past Performance Route. RBI has issued notification vide Notification no- RBI/2014-15/249 REF.No.MPD.BC. 374 /07.01.279/2014-15 dated September 30, 2014 to all Scheduled Banks [excluding Regional Rural Banks (RRBs) ] regarding Export Credit Refinance Facilities. RBI has issued notification vide Notification no- RBI/2014-15/248 RPCD.RCB.BC.No.33/07.51.012/2014-15 dated September 30, 2014 to all State / Central Cooperative Banks (StCBs/CCBs) regarding StCBs/CCBs - Instruments for Augmentation of Capital Funds – Modification RBI has issued notification vide Notification no- RBI/2014-15/247 RPCD.RRB.RCB.AML.No.3509 /07.51.019/2014-15 dated September 30, 2014 to all Regional Rural Banks / State and Central Co-operative Banks regarding RRBs/StCBs/CCBs - Implementation of Section 51-A of UAPA, 1967 - Updates of the UNSCR 1267(1999) / 1989(2011) Committee's Al-Qaida Sanctions List. RBI has issued notification vide Notification no- RBI/2014- 15/246DGBA.GAD.No.H -1463/42.01.035/2014 -15 dated September 30, 2014 to all the Chairman & Managing Director / The Chief Executive Officer and all Banks regarding Implementation of Cheque Truncation System (CTS) - Dispensation of the requirement of forwarding of government cheques in physical form to Government - Change in the Memorandum of Instructions for reporting of government transactions. MARKET UPDATES SENSEX 26,573.31-57.20 CNX NIFTY 7946.85-17.95 DOLLAR/ RUPEE 61.810.04 MCX SILVER 38,495.00-859.00 MCX GOLD 26,987.00-142.00 MCX CRUDE OIL 5,669.00-181.00 Dow Jones Industrial average 17,042.90-28.32 Nasdaq Composite 4,493.39-12.46 http://www.proglobalcorp.com