PGC NEWSLETTER 1

PGC

NEWSLETTER 16

th

March, 2015

THOUGHT OF THE DAY

“The starting point of all achievement is desire…”

ECONOMIC UPDATES

The Government is under commitment with the World Trade

Organisation (WTO) with regard to regulation on issue of licenses and

opening of branches of foreign banks across the country.

Under the ‘Digital India Mission’, Government has launched ‘Jeevan

Pramaan - an Aadhaar based Digital Life Certificate’ for pensioners. This

facility provides an option to the pensioners to submit their life certificate

digitally by authenticating biometrically using UIDAI Database.

SEBI/CORPORATE UPDATES

Major Highlights of the Insurance Laws (Amendment) Bill, 2015 Passed

by Parliament; Provides for Enhancement of the Foreign Investment Cap

in an Indian Insurance Company from 26% to an Explicitly Composite

Limit of 49% with the Safeguard of Indian Ownership and Control.

An official of PricewaterhouseCoopers (PwC) has come under CBI

scanner in connection with its probe into the alleged sale of confidential

government records on foreign investment policies to corporate groups.

E-commerce major Flipkart is believed to be working on an international

listing, with Nasdaq in the US emerging as the preferred destination.

Experts say before an initial public offering (IPO), expected in 12 to 18

months, the Bengaluru-based company must strengthen its financials and

organisational structure.

RBI/TAX LAW UPDATES

Indian Institute of Technology (BHU), Varanasi (PAN - AAAJI0396R)

has been approved by the Central Government` scientific research

association under Sec. 35(1) (ii) of the Income-tax Act, 1961 on the

specified conditions. (Notification No- 22/2015 dated 13.03.2015 issued

by Central Board of Direct Taxes).

CBDT issues instructions for CSIT related to non-migration of PAN due

to pending refund caging.

Delhi government on Friday approved the amendment to VAT (Value

Added Tax) Act to allow the carry forward of Input Tax credit for traders.

MARKET UPDATES

SENSEX

28,445.77 -47.53

CNX NIFTY

8,636.40 -11.35

DOLLAR/ RUPEE

62.86 -0.12

MCX SILVER

35,676.00 143.00

MCX GOLD

25,923.00 33.00

MCX CRUDE OIL

2,793.00 -73.00

Dow Jones Industrial

average

17,749.31 -145.91

Nasdaq Composite

4,871.76 -21.53

http://www.proglobalcorp.com