| Professional
News |
| INCOME
TAX |
| Advance tax: Banks, cement companies
falter, but IT firms payout up |
|
Maharashtra : SBI and Bank
of Baroda have paid Rs 1,456 crore and Rs 360 crore as advance
tax, respectively, for the quarter ended March, reporting
nearly flat growth from a year-period.According to income-tax
department officials, the tax collection figures are a little
disappointing due to sluggish manufacturing demand and slower
growth in banking and finance.
|
| SEBI |
| Sebi may tighten public shareholding
norms for bourses |
|
Maharashtra : The Securities
and Exchange Board of India (Sebi) will soon decide whether
public financial institutions such as banks and insurance
companies which are also trading members on stock exchanges
can continue to be classified as ‘public’ shareholders in
bourses.
|
| Sebi may go for legal cost recovery
from penalties |
|
Delhi : With many of its
orders getting challenged in tribunal and courts, Sebi wants
to recover legal expenses incurred in such litigations from
penalties imposed by it on defaulters before crediting the
same to the government's coffers.
|
| IRDA |
| Insurers seek assistance for online
policy buyers |
|
Maharashtra : Buying
insurance online may be a different experience altogether in
the next few months, if a proposal by insurance companies is
accepted by the insurance regulator. Insurers have requested
the Insurance Regulatory and Development Authority (Irda) to
have an assistance model in buying insurance on the
internet.
|
| Misc. Corporate Laws
& Other Commercial Policies |
| EGoM to take a call on crop damage
relief to states |
|
Delhi : the Empowered Group
of Ministers on crop damage, headed by Agriculture Minister
Sharad Pawar, is scheduled to meet tomorrow to discuss about
extending central relief to states hit by untimely rains and
hailstorm.Unseasonal rain, wind and hailstorm early this month
affected rabi (winter) crops in Maharashtra, Madhya Pradesh,
Rajasthan and some parts of Karnataka.
|
| Finance & Money
Markets |
| Bankers step up call for interest
rate cut |
|
Maharashtra : Bank chiefs
led by the State Bank of India chairman Arundhati Bhattacharya
will call on the Reserve Bank of India Governor Raghuram Rajan
next week with a plea to reduce interest rate to revive
investment flow as the rate of inflation cools.
|
| Market seeks repo rate cut as
inflation softens |
|
Maharashtra : At a
pre-monetary policy meeting with Reserve Bank of India (RBI)
officials on Tuesday, market representatives expressed concern
on the slowing economic growth and suggested the regulator cut
the repo rate.
|
| Commodities |
| Sugar output down 8.5% till March
15 |
|
Delhi : The country’s sugar
production has declined by 8.5% to 19.38 mt till March 15 of
the current marketing year due to lower output in key
producing states, according to industry body ISMA. Production
stood at 21.1 mt in the corresponding period last year. Indian
Sugar Mills Association (ISMA) has revised overall production
forecast downward by 5% to 23.8 mt for the ongoing 2013-14
marketing year (October-September).
|
| Gold, silver fall on selling by
stockists, weak global cues |
|
Delhi : Gold prices fell by
R105 to R30,725 per 10 gram in New Delhi on selling by
stockists at the prevailing high levels, triggered by a weak
global trend.
|
| Loss on sale of diesel declines to Rs
7.16 per litre |
|
Delhi : The loss on sale of
diesel has come down by more than R1 to R7.16 per litre on the
back of softening international rates. Public sector oil firms
Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum
Corp are now losing R7.16 on every litre of diesel sold, down
from R8.37 a litre in the first half of the month, an official
statement said.
|
| New FMC penalties for short
collection of margin money |
|
Maharashtra : The Forward
Markets Commission (FMC) has decided to levy a penalty of up
to five per cent on members of national commodity exchanges
failing to collect the required margin money.
|
| Pension/Provident
Fund |
| EPFO goes after subscribers drawing
multiple pensions |
|
Delhi : Running a big
deficit on its pension scheme, the Employees’ Provident Fund
Organisation has charted out a plan to track subscribers
drawing pension from more than one account in violation of
rules.
|
| Banking |
| Banks increase management oversight
to boost recoveries |
|
Maharashtra : Bankers are
increasing management oversight to step up their efforts to
increase recoveries and stem slippages. Finance minister P
Chidambaram said his ministry has asked public sector banks to
focus on recovery and added the banks had recovered Rs 18,933
crore in the nine-month period that ended in December.
|
| Corporate houses may not get bank
licences |
|
Maharashtra : Industrial
houses aspiring to set up banks could be in for some
disappointment, as the Reserve Bank of India (RBI) is in no
mood to oblige any of them. Sources familiar with the
developments said while the licensing process was in the final
lap, a final announcement was still some time away.While the
names of several business houses were considered during
discussion, the thinking in the important corridors of the
central bank headquarters favoured caution. RBI is not alone
in its caution.
|
|
 |
| Economy |
| India |
| Maharashtra's revenue deficit may surge on farm
damage |
| Gujarat keeps top rank in economic freedom, gives
Narendra Modi big boost |
| India’s tourism industry to grow 7.3% in 2014:
WTTC |
| |
| International |
| Land prices in big Japanese cities rise first
time in 6 years |
| China home price inflation slows for 2nd month in
Feb |
| Europe car sales up for sixth straight
month |
| Euro zone posts smaller trade surplus in
January |
| |
| Markets
Today |
| NSE |
6,530.00
|
|
| BSE |
21,832.86
|
|
| NASDAQ |
4,333.31
|
|
| |
|
|
| USD |
61.02
|
|
| EURO |
84.90
|
|
| JPY(100) |
60.07
|
|
| GBP |
101.39
|
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| |
| Corporate
Watch |
| Orient-Express may roll into
India |
|
Maharashtra : Orient-Express Hotels
(OEH), the Bermuda-based owner and operator of luxury hotels,
trains, river cruises and restaurants, is open to expanding
its global reach, which could include a base in India.Sources
familiar with the developments said the NYSE-listed OEH could
be exploring possibilities of entering India if there were
‘opportunities’. The company has started the process of
scouting for management contracts globally, for new
properties.
|
| Cyrus Mistry, Tata Group chairman, plans to
spend at least $8 bn on infrastructure
development |
|
Maharashtra : Cyrus Mistry,
chairman of the Tata Group, is planning to spend at least $8
billion in building roads, airports and housing, betting a
stable administration after the country's coming elections
will lead to a new wave of infrastructure development. Mistry,
45, who took over as the group's chairman in December 2012
after Ratan Tata's two decades at the helm, is expanding at
least three unlisted infrastructure companies within the
$100-billion conglomerate , according to two people familiar
with his plans.
|
| Maruti Suzuki to halt shipments to Europe,
exports to dip 10 pct |
|
Delhi : Maruti Suzuki will stop
exporting to Europe, its single largest overseas market, for
over a year starting in the April-June quarter, reports Roudra
Bhattacharya in New Delhi. Industry sources told FE the move
will lead to a dip of around 10% in its total exports for the
next fiscal — Maruti will restart European exports after a
15-month gap in September 2015 with a completely new model,
likely the YRA premium hatchback. European exports for the
market leader will come to a halt because it will stop
exporting the A-Star after the last consignment of about
15,000 units is despatched in the next quarter.
|
| Polaris Financial demerges product biz into
new entity |
|
Tamil Nadu : Amid reports of the
company being put on the block, Chennai- based IT company
Polaris Financial Technology on Tuesday announced the demerger
of its products (Intellect) business into an independent
entity. The company will be filing the scheme of demerger with
the stock exchanges, market regulator Sebi and high court as
per extant regulations. After demerger, the product company
will be known as Intellect Design Arena (Intellect) and
comprise of four distinct businesses such as global universal
banking, risk and treasury management, global transaction
banking and insurance. Polaris will continue to run the
services business with a strong vertical and solution
focus.
|
| |
| Tenders
& Assignment |
National Health Mission, Uttar Pradesh
 |
Description :Hiring Services
of Chartered Accountant Firm For Concurrent Audit of Districts
Health Society (DHS) for the F.Y. 2014-15.
Last Date : 29/03/2014
Address :National Health Mission,
Uttar Pradesh State Health Society State Programme
Management Unit Vishal Complex, 19-A, Vidhan Sabha Marg,
Lucknow, Uttar Pradesh Phone :0522 –
2237595, 2237501, 2237383 E-Mail :acs.nrhm@gmail.com
|
| |
| Reminders |
| Tenders |
| 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
|
| National Rural Health Mission - Port Blair
Andaman And Nicobar 22/03/2014
|
| Food Corporation Of India - Noida Uttar
Pradesh 24/03/2014
|
| Presidency University - Kolkata West
Bengal 25/03/2014
|
| Central Electronics Limited - Sahibabad Uttar
Pradesh 25/03/2014
|
| Jharkhand Agency For Promotion Of Information
Technology 25/03/2014
|
| State Bank Of India 25/03/2014
|
| National Rural Health Mission - State Health
& Family Welfare Society
Sikkim 25/03/2014
|
| Sant Longowal Institute Of Engineering And
Technology 26/03/2014
|
| |
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