Newsletter dated 16th May,2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
16th
May, 2015
THOUGHT OF THE DAY
“Happiness is when what you think, what you say, and what you do are in
harmony… ”
ECONOMIC UPDATES
 The Reserve Bank of India (RBI) has said bank boards should do a
detailed scrutiny of their quarterly and annual financial results in their
board discussions. RBI said bank boards should look at financial
reports and their integrity, including NPA management.
 Finance Bill 2015 has got assented by the Hon’ble President on 14th
May, 2015. Service Tax Changes applicable from 14.05.2015.
 The government today appointed M J Joseph as the Controller General
of Accounts (CGA) in the Ministry of Finance.
SEBI/CORPORATE UPDATES
 Vide Circular ref CIR/MRD/DRMNP/8/2015 dated May 14, 2015,
SEBI directs for reduction of time involved in delivering shares to
buying broker in case of default by selling broker.
 The Council of the Institute of Chartered Accountants of India has
issued this Guidance Note on Accounting for Expenditure on
Corporate Social Responsibility Activities on 15.05.2015.
 SEBI has passed Exit Order in respect of Madras Stock Exchange
Limited (MSE) on 14.05.2015.
 Vide PR No. 131/2015 dated May 14, 2015, SEBI asks research analyst
to apply before May 31, 2015 for grant of registration under SEBI
(Research Analysts) Regulations, 2014.
RBI/TAX LAW UPDATES
 Vide Instruction No. 4/2015 dated 14.05.2015 issued by CBDT, CBDT
revises annual target of auditable cases for Add. CIT and internal audit
parties.
 Vide Notification ref RBI/2014-15/600 DNBR (PD) CC.No.035/
03.10.001/2014-15dated 14-05-2015, it is clarified that Now Infra Debt
Fund-NBFCs can invest in non-PPP projects and PPP projects without
a project authority.
 Vide RBI Circular ref RBI/2014-15/599 A.P. (DIR Series) Circular
No.101 dated May 14, 2015, RBI does away with requirement of
declaration of export of goods/software under foreign exchange norms.
MARKET UPDATES
SENSEX
27,324.00 117.94
CNX NIFTY
8,262.35 38.15
DOLLAR/ RUPEE
63.51 -0.14.
MCX SILVER
39,939.00 195.00
MCX GOLD
27,460.00 26.00
MCX CRUDE OIL
3,791.00 15.00
Dow Jones Industrial
average
18,272.56 20.32
Nasdaq Composite
5,048.29 -2.50
http://www.proglobalcorp.com