| Professional
News |
| INCOME
TAX |
| Banks to remain open on weekend to
facilitate tax collection |
|
Delhi : Bank branches will
remain open for full day on March 29, 30 and 31 to facilitate
tax collection. While March 29 is a Saturday, March 30 is
Sunday and March 31 is the last year of financial year and is
a public holiday in some parts of the country. "The
Chairperson, Central Board of Excise and Customs ( CBEC) has
requested the Secretary Financial Services to issue
instructions to have the banks open for full day on 29th, 30th
and 31st March 2014 so that the efforts made for collections
of revenue are reflected appropriately," an office memorandum
said.
|
| SEBI |
| Sebi to seek extra funds for investor
programmes |
|
Delhi : To bolster awareness
among investors and ring-fence them from possible frauds,
capital markets regulator Sebi plans to seek additional funds
from the government for strengthening its IPEF (Investor
Protection and Education Fund) programmes.Sebi has identified
empowerment of investors, strengthening of enforcement and
supervision framework and capacity building as among its core
focus areas for 2014-15.
|
| Sebi orders FTIL to sell shares in
MCX-SX and other bourses |
|
Maharashtra : Capital
markets regulator Sebi on Wednesday directed Jignesh Shah-led
Financial Technologies IndiaBSE 0.53 % to sell its shares in
MCX-SX and other exchanges within 90 days on the ground that
it did not meet the 'fit and proper' criteria required for a
shareholder of an exchange. The basis for Sebi's ruling is an
earlier order by commodity market regulator Forward Markets
Commission (FMC), declaring FTIL not 'fit and proper' to hold
more than 2% in commodity exchange MCX, because of its actions
in managing troubled commodity spot exchange NSEL, which is
facing a .`5,500-crore payment crisis.
|
| Sebi notifies norms to make KYC
process easier for investors |
|
Maharashtra : Making the
know-your-client process easier for investors, Sebi has
notified a net set of norms that allow various market entities
such as brokers and MFs to get details from centralised KYC
agencies, rather than carrying out a fresh KYC verification
procedure.An option available to a market intermediary is that
it may access the centralised KRA (KYC Registration Agency)
system in case of a client, who is already KYC
compliant.
|
| RBI |
| RBI wants government to consider
outsiders as PSU bank heads |
|
Delhi : The Reserve Bank of
India (RBI) has recommended that the government dissociate
itself from the selection process involved in picking the
heads of state-run banks. The central bank has also suggested
that top executives of public sector banks (PSBs) be selected
from a wider pool that includes private sector candidates,
rather than be confined to those from the state-run lenders.
It also recommended that such executives be paid salaries that
are comparable with those in other industries.
|
| RBI wants trade receivables &
credit exchange for financing MSMEs |
|
Maharashtra : The RBI has
proposed setting up of a trade receivables and credit exchange
(TCE) for financing micro, small and medium enterprises
(MSMEs).In a concept paper, the central bank detailed the
model through which TCE would function and alleviate some
concerns over financing for MSMEs.The proposed model outlines
two stages for trade receivables, the primary segment where
MSME bills are dematerialised and discounted through the
electronic platform through the mechanism of reverse factoring
and the secondary market segment where the already factored or
discounted invoices are further traded.
|
| RBI allows 5 private banks to import
gold |
|
Maharashtra : The Reserve
Bank has allowed five domestic private banks to import gold.
Sector officials said this could be a significant step towards
easing of tough curbs on the metal imposed last year to cut
the country's trade deficit. The move could boost supplies and
bring down premiums in the world's second-biggest consumer
after China. The central bank has allowed imports by HDFC Bank
, Axis Bank, Kotak Mahindra Bank, IndusInd Bank and YES Bank,
officials at the respective banks told Reuters.
|
| Finance & Money
Markets |
| Indian banks in UK feel the heat
after BoE’s caution note on non-EU
lenders |
|
Maharashtra : Branches of
Indian banks in the United Kingdom (UK) may face problems
after a consultation paper by the Bank of England's Prudential
Regulatory Authority (PRA) said retail banking by non-European
banks will be 'significantly impacted' in the event of
liquidity issues.The regulator feels there could be problems
since the branches of non-European banks are not covered under
the UK deposit guarantee scheme.
|
| Commodities |
| Gold and silver extend losses on weak
global cues |
|
Delhi : Gold and silver
extend losses on weak global cues Prices of gold and silver
fell for the second day on Wednesday at the bullion market
because of sustained selling by stockists amid weak global
trends. While gold fell further by R45 to R30,680 per 10 gm,
silver declined by R210 to R46,240 per kg on sluggish demand.
Gold in global markets fell toward a one-week low as investors
awaited the outcome of the US Federal Reserve’s meeting and
assessed the situation in Ukraine, which impacted the prices
at domestic markets, traders said. Gold in Singapore fell by
0.3% to 1,351.16 dollar an ounce and silver by 0.4% to 20.74
dollar an ounce.
|
| INTERNATIONAL
BUSINESS |
| JPMorgan agrees to sell commodities
unit for $3.5 billion |
|
JPMorgan Chase & Co agreed to sell
its physical commodities unit to Mercuria Energy Group, ending
the bank's five-year foray into owning and storing raw
materials and vaulting the Swiss firm closer to the world's
biggest commodity traders.Mercuria will pay $3.5 billion in
cash for the unit, according to a statement from the New
York-based bank on Wednesday.
|
| MERGER &
ACQUISITION - NATIONAL |
| WPP may buy 60% stake in Rediffusion
Y&R India |
|
Maharashtra : WPP may
acquire the 60% stake held by Arun Nanda and Ajit Balakrishnan
in Rediffusion Y&R India, said two persons with direct
knowledge of the development, adding that both sides are in
negotiations over a possible deal.The London-based advertising
and marketing communications company, which already owns
26.67% of the Indian agency, has been trying to buy out Nanda
and Balakrishnan since 2002.
|
| Ronnie Screwvala buys 43% in Lebanese
food chain Maroosh, deal seen at Rs 50
crore |
|
Maharashtra : Ronnie
Screwvala, founder of the media and entertainment group UTV,
has bought a 43% stake in Mumbai-based Lebanese restaurant
chain Maroosh, widening the scope of his investments in
emerging businesses to the quick-service restaurant (QSR)
industry. While Screwala declined to comment on valuation,
bankers estimated the deal to be in the range of Rs 40-50
crore.
|
| General
Insurance |
| Non life insurance premium rises 5%
in February |
|
Delhi : The premium income
of non life insurance companies, including that of four public
sector entities, grew 5% in February to Rs6,066.30 crore. The
four PSU entities—National Insurance, New India Assurance,
Oriental Insurance and United India Insurance—saw their gross
premium collection rise by 2.6% year-on-year to Rs3,394.83
crore in February. During the month, these four entities
accounted for about 56% of the total premium collected by
general insurance companies.
|
| Banking |
| Poll panel raises red flag on bank
licence timing |
|
Delhi : The Election
Commission (EC) has expressed its reservations on the timing
of the Reserve Bank of India's (RBI) proposal to grant new
banking licences to two of the 25 applicants. "There are
certain issues for which we need more clarity and are writing
to the RBI," an EC official said on the condition of
anonymity, adding the poll panel would take a decision by the
end of this month.
|
| Notifications
& Circulars |
| RBI |
| Notification
No.RBI/2013-14/522 (Delhi) 19/03/2014
|
| Restructuring Support Finance - participation by
investors |
| Notification
No.RBI/2013-14/523 (Delhi) 19/03/2014
|
| Buyback of assets from SC/RCs by the Defaulters and
acquisition of assets by SC/RCs from sponsor banks |
| Notification
No.RBI/2013-14/524 (Delhi) 19/03/2014
|
| Anti-Money Laundering (AML)/Combating of Financing of
Terrorism (CFT) - Standards |
| Notification
No.RBI/2013-14/525 (Delhi) 19/03/2014
|
| End of Support for Windows XP |
| Notification
No.RBI/2013-14/521 (Delhi) 18/03/2014
|
| Anti- Money Laundering (AML) / Combating of Financing of
Terrorism (CFT) – Standards |
| |
|
 |
| Economy |
| India |
| Premium air travel sees over 6% rise in
January |
| Shipping Ministry likely to seek funds to support
2 major ports |
| S&P says credit profile of India Inc
improving |
| Non-food credit growth flat |
| |
| International |
| Fed poised to trim bond buying |
| U.K. Unemployment Stays at 7.2% as BOE Sees
Further Pound Risks |
| More BoJ stimulus seen as weak trade data cloud
Japan outlook |
| |
| Markets
Today |
| NSE |
6,508.35
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| BSE |
21,740.09
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| NASDAQ |
4,307.60
|
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| |
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| USD |
61.25
|
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| EURO |
84.51
|
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| JPY(100) |
59.76
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| GBP |
101.21
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| |
| Corporate
Watch |
| PK Online plans to raise Rs 100 crore in
first round funding |
|
Delhi : PK Online, a digital media
start-up, is in talks with two early-stage venture capital
funds, Nirvana Venture Advisors and Bertelsmann India
Investments, to raise Rs 100 crore in its first round of
funding to consolidate its technology platform and brand
building. Investors may pick up between 25% and 30% in the
start-up that produces mobile and online content, including
live videos, movies and music, according to people closely
associated with the negotiations. This will value the
sixyear-old company at about Rs 400 crore. The deal is likely
to be sealed by June.
|
| India will overtake UK in terms of store
count: Richard Allison, exec VP
Domino’s |
|
Delhi : Domino's will have more
outlets in India than any other international market by the
end of this year as the US pizza giant plans aggressive
expansion in the country despite a consumer slowdown. 'Before
December this year, we expect India to overtake the UK in
terms of store count,' Richard Allison, executive
vice-president at Domino's International, told ET.
|
| Investors expand capital funds to support
startups |
|
Karnataka : Two of India's top
early-stage investors, Kae Capital and Blume Ventures, are
raising new funds within two years of inception with an aim to
create new pools of capital to support fledgling ventures.
These funds are looking to bridge the gap between abundant
seed funding and slightly scarcer venture capital in India's
booming startup ecosystem. The two Mumbai-based firms will
begin the process of raising new funds by June.
|
| US carmakers’ India losses pile up in
FY13 |
|
Maharashtra : The accumulated
losses for the India units of US-based carmakers Ford and
General Motors have together crossed R4,500 crore despite
around two decades of operation in what is today considered
the world’s sixth-largest auto market.The two companies, who
are among the top five globally, are finding it tough to
compete with the larger domestic automobile players such as
Maruti Suzuki India, Mahindra & Mahindra and Hyundai, all
of whom have seen profits improve in the past few
years.
|
| |
| 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
|
| Air Force Station - Jodhpur Rajasthan
|
|
Description :Appointment of
Chartered accountant firms for auditing of non public funds at
air force station for the period of three
years.
Last Date : 31/03/2014
Address :Air Officer Commanding Air
Force Station Ratanada,Jodhpur-342011
Phone
:0291-2511516
|
| Bharat Bhari Udyog Nigam Limited |
Description :Expression of
interest from reputed chartered accountants firm or
consultancy organization for preparation, finalization of
accounts, implementation of merger process/scheme by obtaining
sanction, approval from various authorities as per rules &
companies act till complete. Last Date
: 03/04/2014 Address :Bharat
Bhari Udyog Nigam Limited( A Government of India Enterprise)
26, Raja Santosh Road, Alipore, Kolkata – 700 027
Phone :033-2479-5535
E-Mail :info@bbunl.com
|
| Housing And Urban Development Corporation
Limited |
|
Description :Appointment of
Ca Firm For Internal Audit Of Loan Accounts And Other
Specified Areas of Hudco For The Year
2014-15.
Last Date : 07/04/2014
Address :Housing And Urban
Development Corporation Limited,India Habitat Centre, Lodhi
Road, New Delhi,
|
| Haryana School Shiksha Pariyojana
Parisad |
|
Description :Appointment Of
Chartered Accountant Firms For Statutory Audit Of Sarva
Shiksha Abhiyan And Rashtriya Madhyamik Shiksha Abhiyan, For
The Financial Year 2013-14
Last Date
: 10/04/2014
Address
:Panchkula - Haryana
|
| |
| Reminders |
| Tenders |
| Department Of Rural Development - Gandhinagar
Gujarat 21/03/2014
|
| National Judicial
Academy 21/03/2014
|
| Indian Statistical Institute _Kolkata West
Bengal 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
|
| State Bank Of India 25/03/2014
|
| Presidency University - Kolkata West
Bengal 25/03/2014
|
| National Rural Health Mission - State Health
& Family Welfare Society
Sikkim 25/03/2014
|
| Central Electronics Limited - Sahibabad Uttar
Pradesh 25/03/2014
|
| Jharkhand Agency For Promotion Of Information
Technology 25/03/2014
|
| Sant Longowal Institute Of Engineering And
Technology 26/03/2014
|
| Heavy Engineering Corporation
Limited 27/03/2014
|
| |
| Notifications
& Circulars |
| CUSTOMS |
| Notification No. 13/2014-Customs
(ADD) (Delhi) 19/03/2014
|
| Seeks to levy definitive anti-dumping duty on imports of
'Red Phosphorous, excluding red phosphorous used in electronic
applications', originating in, or exported from, the People’s
Republic of China for a period of five years |
| Notification no. 14/2014 - Customs
(ADD) (Delhi) 19/03/2014
|
| Seeks to levy provisional anti-dumping duty on imports of
'Sodium Nitrate', originating in, or exported from, the
European Union, the People’s Republic of China, Ukraine and
Korea RP , for a period of six months |
| ORDER (Delhi) 12/03/2014
|
| Appointment of Common Adjudicating Authority |
| Notification No. 12/2014-Customs
(ADD) (Delhi) 12/03/2014
|
| Seeks to amend the notification No. 116/2009-Cus dt. 8th
October 2009 |
| Notification No. 10 /2014-Customs
(ADD) (Delhi) 11/03/2014
|
| Seeks to levy definitive anti-dumping duty on imports of
Acetone, originating in, or exported from, EU, South Africa,
Singapore and USA for a further period of five years. |
| Notification No. 11/2014-Customs
(ADD) (Delhi) 11/03/2014
|
| Seeks to levy definitive anti-dumping duty on imports of
Meta Phenylene Diamine’, originating in, or exported from, the
People’s Republic of China, for a period of five years. |
| |
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