Infosys co-founder Nandan Nilekani supports job reservation in public sector but not over-regulation of private sector. India's intellectual property regime and patent laws got support from US organizations and companies. Separate meetings between Toyota Kirloskar Motor and its employees union remained inconclusive. SEBI barred Jignesh Shah-promoted FTIL from owning shares in stock exchanges and directed it to sell its holdings within 90 days. RBI suggested selecting public sector bank executives from a wider pool including private sector and barred asset reconstruction companies from acquiring bad loans from sponsor banks bilaterally.

1. PGC NEWSLETTER20th March 2014 1
PGC
NEWSLETTER
20th March 2014
THOUGHT OF THE DAY
“The starting point of all achievement is
desire”
ECONOMICS NEWS
• Infosys co-founder and Congress candidate for Bangalore South Lok
Sabha seat Nandan Nilekani today said he supports job reservation in
public sector, but the private sector should not be over-regulated and
instead be encouraged to be more proactive about inclusion.
• India’s intellectual property (IP) regime and patent laws have got strong
support from US-based law professors and non-profit organisations as
well as leading MNCs.
CORPORATE LAW UPDATES
• Separate meetings of the deputy labour commissioner with Toyota
Kirloskar Motor and the Toyota Kirloskar Motor Employees Union
(TKMEU) remained inconclusive on Wednesday.
• SEBI has barred Jignesh Shah- promoted Financial Technologies India
Ltd ( FTIL) from owning stakes in the country’s stock exchanges.The
capital markets regulator said FTIL was not ‘ fit &proper’ to hold shares
in bourses and directed it to sell its holding in the four exchanges and a
clearing corporation within 90 days.
RBI / TAX LAW UPDATE
• The central bank has suggested that top executives of public sector
banks (PSBs) be selected from a wider pool that includes private sector
candidates, rather than be confined to those from the state-run lenders.
• RBI has barred asset reconstruction companies from acquiring bad
loans from sponsor banks on a bilateral basis. However, it has allowed
such transactions if the asset is auctioned in a transparent manner, on
an arm’s- length basis and if prices are determined by market factors.
MARKET UPDATES
SENSEX
21,788.58 -44.28
CNX NIFTY
6,504.95 -19.10
DOLLAR/ RUPEE
61.15 0.19
MCX SILVER
45669.0 -0.01
MCX GOLD
29,965.0 -16.0
MCX CRUDE OIL
6120.0 0.92
Dow Jones Industrial
Average
16,222.17 -114.02
Nasdaq Composite
4307.60 -25.71