Newsletter dated 8th May, 2015

1. THOUGHT OF THE DAY
"The universe is change; our life is what our thoughts make it…"
ECONOMIC UPDATES
 Expressing concern over declining shipments, Federation of Indian Export
Organisations (FIEO) President S C Ralhan asked the government to
review the incentives announced in the foreign trade policy. The incentives
given to exports sector are less than 1 per cent of the country's total
exports, which is a "miniscule amount".
 India is proposing to set up an independent debt management office in a
phased manner and will begin discussions with the Reserve Bank of India
(RBI) on its contours after the completion of the ongoing budget session.
SEBI/CORPORATE UPDATES
 Vide SEBI Circular No. CIR/MRD/DP/6/2015 dated May 07, 2015 hereby
notified that In order to enable the users to have an access to all the
applicable circulars/directions at one place, Master Circular for
Depositories has been prepared.
 Vide Notification No F.No. IRDA/Reg/3/93/2015 it is clarified that,
IRDA's approval is must to register transfer of shares of Insurance-co. if it
changes substantial holding of transferee.
RBI/TAX LAW UPDATES
 Vide Notification RBI/2014-15/589 DPSS (CO) PD No.2112/ 02.14.003/
2014-15 dated May 7, 2015 issued Security and Risk Mitigation Measures
for Card Present and Electronic Payment Transactions.
 Vide Notification RBI/2014-15/590 DBS.CO. CFMC.BC.No. 007/
23.04.001/2014-15 dated May 7, 2015 notified to all Scheduled
Commercial Banks (excluding RRBs) framework for dealing with loan
frauds.
 Vide Notification RBI/2014-2015/588 DNBR(PD)CC. No.02/SCRC/
26.03.001/2014-2015 dated May 07, 2015 issued guidelines relating to
maximum resolution period for BIFR/CDR/JLF cases.
 Vide Notification RBI/2014-15/587 DGBA.GAD No.H- 5013/ 45.01.001/
2014-15 notified that all pensioners are required to furnish a life certificate
to the pension disbursing bank every year in November for continuance of
pension.
 Vide MVAT Circular No. 5T of 2015, dated 06.05.2015 government
decided to online grant of registration under the Maharashtra Value Added
Tax Act, 2002 and Central Sales Tax Act, 1956.
MARKET UPDATES
SENSEX
26,970.45 371.34
CNX NIFTY
8,165.50 108.20
DOLLAR/ RUPEE
63.24 0.7
MCX SILVER
37,763.00 -102.00
MCX GOLD
26,891.00 -43.00
MCX CRUDE OIL
3,766.00 -24.00
Dow Jones Industrial
average
17,924.06 82.08
Nasdaq Composite
4,945.54 25.90
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