Newsletter dated 30th December,2014
0 likes200 views
The newsletter provides updates on the Indian economy, markets, and regulations. It notes ongoing risks in the banking system from poor asset quality and mentions two companies receiving approval for funding activities. It also lists several notifications issued by regulatory bodies modifying customs duties and tax filing deadlines to liberalize trade under economic agreements with other nations. Financial market indicators are presented at the end.
![PGC NEWSLETTER 1
PGC
NEWSLETTER
30th
December, 2014
THOUGHT OF THE DAY
“Positive attitudes create a chain reaction of positive thoughts....”
ECONOMIC NEWS
Risks to India’s banking system continue to remain at elevated levels on
concerns of further deterioration in the asset quality, the Reserve Bank of India
(RBI) said in its Financial Stability Report (FSR) released on Monday.
State-run Rashtriya Ispat Nigam Ltd (RINL) has received market regulator
Sebi's approval to raise funds through an initial public offer (IPO).
SEBI/CORPORATE UPDATES
Government today approved raising its stake in IFCI Ltd to 51 per cent by
infusing Rs 60 crore in the country's oldest financial institution.
At least 1,000 individuals and companies have come under markets regulator
Sebi's scanner for allegedly using stock markets to evade taxes and launder
money through companies mostly existing on paper.
RBI / TAX LAW UPDATES
RBI notification ref RBI/2014-15/371 A.P. (DIR Series) Circular No.54 dated
December 29, 2014 issued regarding Overseas Direct Investments by Indian
Party – Rationalization / Liberalization.
Notification No- 35/2014-Customs dated. 29-12-2014 issued by CBEC Seeks
to amend notification No. 152/2009-Customs dated 31.12.2009 so as to
provide deeper tariff concessions in respect of specified goods imported from
Korea RP under the India-Korea Comprehensive Economic Partnership
Agreement w.e.f. 01.01.2015.
Notification No- 36/2014-Customs dated. 29-12-2014 issued by CBEC Seeks
to notify the basic customs duty rates [under notification No. 69/2011-Customs
dated 29th July 2011 (India-Japan CEPA)] on tariff item 84082020 and tariff
item 87084000 at 6.8% and 8.75%, respectively w.e.f. 01st January 2015.
Notification No- 37/2014-Customs dated. 29-12-2014 issued by CBEC Seeks
to amend notification No. 53/2011-Customs dated 01st July, 2011 so as to
provide deeper tariff concessions in respect of specified goods imported from
Malaysia under the India-Malaysia Comprehensive Economic Cooperation
Agreement (IMCECA) w.e.f. 01.01.2015.
Notification No- 38/2014-Customs dated 29-12-2014 issued by CBEC Seeks
to amend notification No. 46/2011-Customs dated 01.06.2011 so as to provide
deeper tariff concessions in respect of specified goods when imported from
ASEAN under the India-ASEAN Free Trade Agreement w.e.f. 01.01.2015.
The last date for submission of audit report u/s 61 of the MVAT Act 2002, for
the period 2013-14 is 15th January 2015.
MARKET UPDATES
SENSEX
27,344.28 -51.45
CNX NIFTY
8,231.05 -15.25
DOLLAR/ RUPEE
63.74 0.06.
MCX SILVER
36,654.00 170.00
MCX GOLD
26,870.00 106.00
MCX CRUDE OIL
3,409.00 -5.00
Dow Jones Industrial
average
18,038.23 -15.48
Nasdaq Composite
4,806.91 0.05
http://www.proglobalcorp.com](https://image.slidesharecdn.com/pgcnewsletterdated30thdec2014-141230032859-conversion-gate01/85/Newsletter-dated-30th-December-2014-1-320.jpg)
Newsletter dated 30th December,2014
- 1. PGC NEWSLETTER 1 PGC NEWSLETTER 30th December, 2014 THOUGHT OF THE DAY “Positive attitudes create a chain reaction of positive thoughts....” ECONOMIC NEWS Risks to India’s banking system continue to remain at elevated levels on concerns of further deterioration in the asset quality, the Reserve Bank of India (RBI) said in its Financial Stability Report (FSR) released on Monday. State-run Rashtriya Ispat Nigam Ltd (RINL) has received market regulator Sebi's approval to raise funds through an initial public offer (IPO). SEBI/CORPORATE UPDATES Government today approved raising its stake in IFCI Ltd to 51 per cent by infusing Rs 60 crore in the country's oldest financial institution. At least 1,000 individuals and companies have come under markets regulator Sebi's scanner for allegedly using stock markets to evade taxes and launder money through companies mostly existing on paper. RBI / TAX LAW UPDATES RBI notification ref RBI/2014-15/371 A.P. (DIR Series) Circular No.54 dated December 29, 2014 issued regarding Overseas Direct Investments by Indian Party – Rationalization / Liberalization. Notification No- 35/2014-Customs dated. 29-12-2014 issued by CBEC Seeks to amend notification No. 152/2009-Customs dated 31.12.2009 so as to provide deeper tariff concessions in respect of specified goods imported from Korea RP under the India-Korea Comprehensive Economic Partnership Agreement w.e.f. 01.01.2015. Notification No- 36/2014-Customs dated. 29-12-2014 issued by CBEC Seeks to notify the basic customs duty rates [under notification No. 69/2011-Customs dated 29th July 2011 (India-Japan CEPA)] on tariff item 84082020 and tariff item 87084000 at 6.8% and 8.75%, respectively w.e.f. 01st January 2015. Notification No- 37/2014-Customs dated. 29-12-2014 issued by CBEC Seeks to amend notification No. 53/2011-Customs dated 01st July, 2011 so as to provide deeper tariff concessions in respect of specified goods imported from Malaysia under the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA) w.e.f. 01.01.2015. Notification No- 38/2014-Customs dated 29-12-2014 issued by CBEC Seeks to amend notification No. 46/2011-Customs dated 01.06.2011 so as to provide deeper tariff concessions in respect of specified goods when imported from ASEAN under the India-ASEAN Free Trade Agreement w.e.f. 01.01.2015. The last date for submission of audit report u/s 61 of the MVAT Act 2002, for the period 2013-14 is 15th January 2015. MARKET UPDATES SENSEX 27,344.28 -51.45 CNX NIFTY 8,231.05 -15.25 DOLLAR/ RUPEE 63.74 0.06. MCX SILVER 36,654.00 170.00 MCX GOLD 26,870.00 106.00 MCX CRUDE OIL 3,409.00 -5.00 Dow Jones Industrial average 18,038.23 -15.48 Nasdaq Composite 4,806.91 0.05 http://www.proglobalcorp.com