1. PGC NEWSLETTER2nd April 2014 1
PGC
NEWSLETTER
2nd April 2014
THOUGHT OF THE DAY
“Quality means Doing Right When No One is
Looking”
ECONOMICS NEWS
 The Reserve Bank will propose measures to reduce
window dressing by banks, which tends to add to
yearend liquidity pressures in the system.
 Corporate India believes that the country's economy
could resurge to grow 6.5% this year if a strong reform-
minded government comes to power after the upcoming
parliament elections.
CORPORATE LAW UPDATES
 SEBI issued Circular No. CIR/IMD/FIIC/6/2014,
regarding commencement of Foreign Portfolio Investor
("FPI") regime.
 SEBI issued Circular No. CIR/CFD/DIL/1/2014,regarding
Format for Auditors’ Certificate required under Clause
24(i) of the Equity Listing Agreement.
RBI / TAX LAW UPDATES
 The Election Commission on Tuesday allowed the
Reserve Bank of India (RBI) to issue new bank licences.
The EC said the central bank might take "necessary
action as deemed appropriate as permissible under
provisions of the Reserve Bank of India Act, 1934, the
Banking Regulation Act, 1949, and/or any other relevant
law(s).
 The Reserve Bank of India (RBI) has revised its pricing
pricing guidelines for Foreign Direct Investment (FDI),
suggesting the valuation norms will now be on the basis
of market price.
MARKET UPDATES
SENSEX
22,545.70 98.43
CNX NIFTY
6,748.45 25.60
DOLLAR/ RUPEE
59.66 -0.22
MCX SILVER
42641.00 -0.14
MCX GOLD
28,070.00 -10.0
MCX CRUDE OIL
5990.00 0.12
Dow Jones Industrial
Average
16,327.0 0.5
Nasdaq Composit
4155.76 4.54

2. PGC NEWSLETTER2nd April 2014 2