| Professional
News |
| SEBI |
| Sebi to take up plan to rejig fees
for market entities |
|
Delhi : Sebi will soon
consider a significant revision in the fees it charges from
various entities so as to meet expenses for its regulatory and
investor-centric activities.A final decision on the proposed
revision, which includes pushing back the fees to the level
seen before a reduction was announced in 2009 for some
intermediaries, would be taken after the issues are discussed
by Sebi's board at a meeting scheduled for later this month,
sources said.The proposal to revise fees are based on
recommendations made by a Committee on Rationalisation of
Financial Resources (CRFR), which has submitted its report to
Sebi after detailed discussions and a "thorough study" of
various parameters.
|
| RBI |
| RBI curbs force NBFCs to trim gold
loan portfolios |
|
Maharashtra : Retail
non-banking finance companies (NBFCs) are slowing down on gold
loans following RBI guidelines that restricted loan-to-values
of such loans.According to a report by ratings agency Icra,
retail NBFCs credit growth has come down to a mere 5% in the
first nine months of 2013-14 against an overall growth of 15%
in the same period last year. Icra cited that the slowdown in
credit growth for NBFCs was mostly caused mainly by degrowth
in the commercial vehicle (CV), construction equipment (CE)
and gold loan segments.
|
| RBI hikes trade transaction limit to
Rs 5 lakh |
|
Maharashtra : RBI today
hiked the trade related remittance limit from Rs 2 lakh to Rs
5 lakh per transaction, amid increased number of transactions
handled by Exchange Houses.On a review of the permitted
transactions under the Rupee Drawing Arrangements (RDAs), it
has been decided to increase the limit of trade transactions
from the existing Rs 2 lakh per transaction to Rs 5 lakh per
transaction, with immediate effect," the Reserve Bank said.
|
| RBI may auction bonds up to Rs 4 lakh
cr soon |
|
Maharashtra : The issuance
calendar for marketable dated securities for April-September
is expected this month and 60-66 per cent of the gross market
borrowing of the government would be completed by September.
This might result in government bond auctions of Rs
15,000-17,000 crore a week in the first half of the coming
financial year.In last month’s vote-on account, Finance
Minister P Chidambaram announced gross market borrowing would
be Rs 5.97 lakh crore and the net figure would be Rs 4.57 lakh
crore for financial year 2014-15.
|
| FDI
Policy |
| Commerce Ministry seeks EC approval
for railway FDI proposal |
|
Delhi : The Ministry of
Commerce and Industry has sought approval of the Election
Commission of India to move ahead with its proposal to
liberalise the overseas investment policy in railways.The
Cabinet can take a decision on the matter only after the
Election Commission's approval."As the model of conduct is in
force on account of the upcoming general elections, the
government has sought the Elect.Commission's approval on the
matter," sources said
|
| Govt to move Election Commission for
permission to launch FDI in online
retail |
|
Delhi : IN what would be a
big boost for the retail e-commerce (business2consumer) space
in India, the government has decided to allow foreign direct
investment (FDI) in the sector. Although the foreign
investment may need the approval of the government, the likes
of an Amazon or an eBay can now do business here using the
inventory-based model. It is likely foreign companies will be
allowed to own 100% of the Indian entity.Speaking at the Idea
Exchange programme of the Express Group on Thursday,
|
| Misc. Corporate Laws
& Other Commercial Policies |
| Budget likely to make hedging of ECBs
must |
|
Delhi : The government and
the Reserve Bank of India (RBI) are considering making
currency hedging mandatory for companies availing external
commercial borrowings (ECBs), officials told FE. ECBs are the
most popular instrument for Indian companies raising debt
overseas. For lenders, including foreign banks and agencies
such as the World Bank and International Monetary Fund, the
ECB route makes sense as it is the borrower who assumes
currency risk as opposed to rupee-denominated overseas bonds,
in which the lender takes on risk.Currently, it is not
mandatory for companies to hedge their ECB loans.
|
| No curbs, but MNCs' royalty payouts
under scanner |
|
Delhi : India is eyeing
stricter norms to safeguard minority shareholders from being
completely ignored by foreign owners that are overzealous in
raising royalty payouts, but has ruled out reimposing curbs on
the practice as that would hint at capital controls, something
markets abhor.The finance ministry will ask market regulator
Sebi to keep a close watch on royalty payments within the
framework of the tough corporate governance rules approved by
it that will come into force on October 1.
|
| Finance & Money
Markets |
| Information technology stocks drag
Sensex down |
|
Maharashtra : The domestic
benchmark index Sensex fell by 81 points, or 0.37 per cent, on
Thursday on the back of selling in information technology
stocks. IT leader InfosysBSE 0.48 % fell 8.54 per cent to
close atRs 3,357 after the company said it expected sluggish
growth in January-March quarter due to muted spending by
clients.The decline in stocks was accelerated by weak trend in
Asian markets after China reported poor industrial growth and
retail sales that missed estimates.
|
| Rupee gains 5 paise against
$ |
|
Maharashtra : The rupee on
Thursday gained five paise to close at 61.17 against the
dollar on fresh selling of the dollar by exporters, snapping
the two-day losing trend.Signs of sustained capital inflows
aided the rupee's recovery but weak equities capped the rise
to some extent, a forex dealer said. At the interbank foreign
exchange (Forex) market, the domestic unit commenced strong at
61.01 a dollar from previous close of 61.22 and improved
further to a high of 60.90.
|
| Commodities |
| Tyre manufacturers upset as Kerala
growers act pricey on rubber harvest |
|
Kerala : With the growers in
Kerala refusing to part with their freshly harvested natural
rubber (NR), the tyre industry has expressed concern over a
rubber famine hitting the markets.The Automative Tyre
Manufacturers Association (ATMA) has raised concern over its
rising import-dependence for the critical raw material
following "the expected revival in automobile sector and
resultant demand for tyres improving in FY 14-15”.Rajiv
Budhraja, director-general, ATMA, said it is the first time
that domestic availability of rubber, even during the peak
production months, has been "erratic and uncertain.
|
| Gold hits 6-month high over Ukraine,
China |
|
Delhi : Gold prices hit
six-month highs above $1,370 an ounce on Thursday, extending
the previous session's rally, as concerns about Russia's
standoff over Ukraine fuelled buying and the dollar dropped to
2-1/2 year lows against the euro.The European Union agreed on
a framework on Wednesday for its first sanctions on Russia
since the Cold War, a mark of solidarity with Washington in
the drive to make Moscow pay for seizing Crimea.German
Chancellor Angela Merkel said on Thursday that Russia risked
"massive" political and economic damage if it refused to
change course on Ukraine, using her strongest rhetoric since
the start of the crisis.
|
| INTERNATIONAL
BUSINESS |
| Cash abroad rises $206 billion to
$1.95 trillion as Apple to IBM practice tax
avoidance |
|
The largest U.S.-based companies added $206
billion to their stockpiles of offshore profits last year,
parking earnings in low-tax countries until Congress gives
them a reason not to,” Richard Rubin reports for Bloomberg.
“The multinational companies have accumulated $1.95 trillion
outside the U.S., up 11.8 percent from a year earlier,
according to securities filings from 307 corporations reviewed
by Bloomberg News. Three U.S.-based companies — Microsoft
Corp., Apple Inc.
|
| Notifications
& Circulars |
| SEBI |
| CIR/MIRSD/1/2014 (Maharashtra) 12/03/2014
|
| Anti-Money Laundering/Countering the Financing of
Terrorism (AML/CFT) Obligations of Securities Market
Intermediaries under the Prevention of Moneylaundering Act,
2002 and Rules framed there under |
| RBI |
| Notification
No.RBI/2013-14/516 (Delhi) 13/03/2014
|
| Rupee Drawing Arrangement - Increase in trade related
remittance limit |
| Notification
No.RBI/2013-14/517 (Delhi) 13/03/2014
|
| Anti-Money Laundering (AML)/Combating of Financing of
Terrorism (CFT) – Standards – Primary (Urban) Co-operative
Banks |
| Notification
No.RBI/2013-14/518 (Delhi) 13/03/2014
|
| RRBs/StCBs/CCBs - Know Your Customer (KYC) Norms
/Anti-Money Laundering (AML) Standards/ Combating of Financing
of Terrorism (CFT)/Obligation of banks under Prevention of
Money Laundering Act (PMLA), 2002 – Recognising e-Aadhaar as
an ‘Officially Valid Document’ under PML Rules |
| Notification
No.RBI/2013-14/519 (Delhi) 13/03/2014
|
| Anti-Money Laundering (AML) / Combating of Financing of
Terrorism (CFT) - Standards |
| |
|
 |
| Economy |
| India |
| Mining sector finally shows signs of revival
|
| Fate of some large road projects in
limbo |
| Economy will grow at 5.5% in Q4:
Rangarajan |
| |
| International |
| Greek Unemployment Rises to 27.5
Percent |
| Why yuan, Aussie dollar, copper will tango
together |
| Asian stocks follow Wall Street
lower |
| Irish economy unexpectedly contracts in setback
for Government |
| China data show economy cooling |
| |
| Markets
Today |
| NSE |
6,447.25
|
|
| BSE |
21,809.80
|
|
| NASDAQ |
4,260.42
|
|
| |
|
|
| USD |
61.17
|
|
| EURO |
85.06
|
|
| JPY(100) |
60.10
|
|
| GBP |
101.95
|
|
|
| |
| Corporate
Watch |
| Avantha Group's Gautam Thapar to sell 42.7%
stake in Crompton Greaves, expected valuation of $3
billion |
|
Delhi : Billionaire Gautam Thapar
has put Crompton Greaves up for sale, said two persons
familiar with the development.Part of his family's heritage
for as long as India has been independent, the power
transmission and distribution company is the biggest unit of
Thapar's $4-billion Avantha Group. Goldman Sachs has been
informally tasked with finding a buyer
|
| Infosys investors run for cover on grim
revenue forecast |
|
Karnataka : Shares of Infosysfell
the most on a single day since NR Narayana Murthy's June
return, reflecting investors' doubts about a sustainable
turnaround at India's second-largest IT services company.The
8.45% drop on the National Stock Exchange (the company's
American Depository Receipts skidded 6% on NYSE Euronext on
Wednesday) came after chief executive SD Shibulal said revenue
growth for 2013-14 would be near the lower end of the
company's guidance.
|
| Upbeat Boeing and Airbus revise 20-year
market outlook for India |
|
Andhra Pradesh : Two of the world's
largest aircraft manufacturers - Boeing and Airbus - have both
revised their 20-year market outlook for India stating that
the country will see more aircraft sales till 2032 than what
they had estimated in 2012. The upward revision in the outlook
comes a day after SpiceJet placed a $4.4-billion aircraft
order for 42 planes with Boeing and a month after Air Costa
placed a $2.94-billion aircraft order for 50 planes with an
option for 50 more with Embraer of Brazil.
|
| Tata Motors global sales decline 19% in
February |
|
Maharashtra : Tata Motors on
Thursday said global sales, including Jaguar Land Rover (JLR)
vehicles, declined 19.06 per cent to 79,996 units in February
from a year ago. The company had sold 98,837 units in February
last year, Tata Motors said in a statement. In the passenger
vehicles category, global sales last month were 50,775 units,
8.81 per cent higher than 46,662 units in February 2013.
|
| |
| Tenders
& Assignment |
Jharkhand Agency For Promotion Of Information
Technology  |
|
Description :Expression of
interest to appoint a registered chartered accountant firm for
auditing of accounts of JAP-IT.
Last Date
: 25/03/2014
Address
:Jharkhand Agency For Promotion Of Information
Technology,Ground Floor,Engineers Hostel-1,Near
Golchakkar,Dhurwa,Ranchi,Jharkhand
Phone
:0651-2401040
|
| Presidency University - Kolkata West
Bengal |
|
Description :Reputed
architectural firms & chartered accountants firms for
enlistment in presidency university.
Last Date
: 25/03/2014
Address
:Presidency University,86/1 College Street,Kolkata
700073
|
| Heavy Engineering Corporation Limited
|
|
Description :Appointment of
Internal auditor for financial year 2014-15 & 2015-16.
Last Date : 27/03/2014
Address :Heavy Engineering
Corporation Limited,Plant Plaza Road,Ranchi-834004 (Jharkhand)
Phone :0651-2401422
|
| Income Tax Department - Lucknow Uttar
Pradesh |
|
Description :Income Tax
Department Invited Application from qualified Chartered
Accountants (within the meaning of the Chartered Accountants
act, 1949) for Empanelment as Special Auditors for the
Financial Year 2014-15 & 2015-16 to carry out audit in
accordance with the provision of sec. 142 (2A) of IT ACT 1961.
Last Date : 28/03/2014
Address :The Chief Commissioner of
Income Tax, Aayakar Bhawan, 5-Ashok Marg, Lucknow-226001
Phone :0522-2233208
|
| Food Corporation Of India - Zonal Office, (EAST),
Kolkata |
|
Description :Appointment of
Firms of Chartered Accountants constituting
Partnership
firm or a Limited Liability Partnership firm
under two bid system for undertaking
Internal Audit &
Physical Verification of stocks in FCI, West Bengal Region
Last Date : 31/03/2014
Address :Asstt. General
Manager(Audit),Zonal
Office(East),10A,Middleton
Row,Kolkata-700071
|
| Central Mine Planning And Design Institute
Limited |
Description :Empanelment of
Firms of Chartered accountants/cost accountants - appointment
of internal auditors for central mine planning & design
institute limited. Last Date :
01/04/2014 Address :General Manager
(Internal Auditor), Central Mine Planning & Design
Institute Limited, Ranchi- 834031 (Jharkand)
Phone :0651-2230005
E-Mail :iad@cmpdi.co.in
|
| Jaipur Development Authority |
|
Description :Appointment of
Auditor / CA firms for property audit of the authority.
Last Date : 09/04/2014
Address :Room No. 128, Ist Floor,
Jaipur Development Authority, JLN
Marg, Jaipur,
Rajasthan
Phone :9414068368
|
| |
| Reminders |
| Tenders |
| Board Of Secondary
Education 15/03/2014
|
| National Horticultural
Board 15/03/2014
|
| Western Coalfields Limited - Nagpur
Maharashtra 15/03/2014
|
| Karnataka State AIDS Prevention
Society 15/03/2014
|
| District Panchayat - Mandla Madhya
Pradesh 17/03/2014
|
| Kudremukh Iron Ore Company
Limited 18/03/2014
|
| National Rural Health Mission - Guwahati
Assam 18/03/2014
|
| Directorate Of Technical Education
Chennai 18/03/2014
|
| Maharashtra State Co-Operative Marketing
Federation Limited 18/03/2014
|
| Andhra Bank 20/03/2014
|
| Headquarters Central
Command 20/03/2014
|
| South Eastern Coalfields
Limited 20/03/2014
|
| National Judicial
Academy 21/03/2014
|
| Indian Statistical Institute _Kolkata West
Bengal 21/03/2014
|
| Department Of Rural Development - Gandhinagar
Gujarat 21/03/2014
|
| |
|
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