www.csrajivbajaj.com

ec

THOUGHT OF THE DAY

“We can’t change the direction of the wind, but we can adjust my sails to always reach my destination.”

Law Updates:

Finance (No.2) Bill - 2014 is enacted as Finance (No.2) Act, 2014-

Honorable President of India has assented to the Finance (No.2) Bill, 2014

on 6th August, 2014, with this the Finance (No.2) Act, 2014 No.25 of

2014 has come into effect. So now all the provision of Budget 2014

presented by Finance Minister Arun Jaitley vide his Budget presented on

10th July 2014 have come into effect.

RBI/2014-15/168 RPCD.CO.RRB. BC.No.25/03.05.33/2014-15-Monetary

Policy Statement 2014-15 – SLR Holdings under Held to Maturity

Category.

RBI/2014-2015/169 DNBS (PD) CC. No. 42/SCRC/26.03.001/2014-2015-

Certain amendments in Regulatory framework for All registered

Securitisation Companies (SCs)/Reconstruction Companies (RCs).

PROFESSIONALS INPUTS:

Bhushan Steel vice chairman Neeraj Singhal was arrested by the Central

Bureau of Investigation (CBI) in the Syndicate Bank bribery case soon

after a city court issued a non-bailable warrant against him on Thursday.

The agency has accused Mr. Singhal of being part of the conspiracy to

bribe.

The market regulator today filed two complaints in the special Economic

Offences Court against the Raju brothers founder of erstwhile Satyam

Computer Services, former CFO Vadlamani Srinivas and two former

auditors of international auditing firm PWC, among others.

The SLR cut is by itself positive as it signals that the RBI is confident of

the government’s commitment to fiscal consolidation with Budget 2014

drawing a fiscal roadmap of 4.1%, 3.6% and 3% deficit over this fiscal and

the next two fiscal years respectively. RBI believes that banks will not be

called upon to support government borrowing in the coming years. Banks

are anyway running SLR levels around 28% and hence do not really need

to stock up on government bonds

Market updates

SENSEX: 25356.32 232.69 GOLD (MCX): 29980.00 210.00 NIFTY: 7,575.70 72.60 USD/INR: 61.57 -0.32 SILVER: 44149.00 0.76 CRUDE OIL: 6055.00 1.10

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

https://www.facebook.com/Rajiv1Bajaj

http://www.csrajivbajaj.com

Date: 8th August 2014

www.csrajivbajaj.com

Rahul Bajaj

Chairman of the Bajaj Group

Rahul Bajaj is the Chairman of the Bajaj Group, which ranks among the top 10

business houses in India. The Bajaj Group has diversified interests ranging from

automobiles, home appliances, lighting, iron and steel, insurance, travel and

finance. Rahul Bajaj is one of India's most distinguished business leaders and

internationally respected for his business acumen and entrepreneurial spirit.

Rahul Bajaj is an alumnus of Harvard, St. Stephen's and Cathedral. He took over the

reins of Bajaj Group in 1965. Under his stewardship, the turnover of the Bajaj Auto the

flagship company has risen from Rs.72 million to Rs.46.16 billion.

Rahul Bajaj created one of India's best companies in the difficult days of the licence-

permit raj. He established factories at Akurdi and Waluj. In 1980s Bajaj Auto was top

scooter producer in India andits Chetak brand had a 10-year waiting period.

The initiation of liberalization in India posed great challenges for Bajaj Auto.

Liberalisation brought the threat of cheap imports and FDI from top companies like

Honda. Rahul Bajaj became famous as the head of the Bombay Club, which

opposed liberalization. The scooter sails plummeted as people were more interested in

motorcycles and the rival Hero Honda was a pioneer in it.

The recession and stock market collapse of 2001 hit the company hard and it was

predicted that the days of Bajaj Auto were numbered. However, Bajaj Auto re-invented

itself, established a world-class factory in Chakan, invested in R&D and came

up with Bajaj Pulsar Motorcycle. Bajaj Pulsar is currently a leader in its segment.

Recently, Rahul Bajaj was elected to Rajya Sabha from Maharashtra.