| Professional
News |
| INCOME
TAX |
| Not much scope for tax cuts, lower,
middle income groups may get some help, say
experts |
|
Delhi : Imagine if the basic
tax exemption is raised to Rs 3 lakh (an additional Rs 50,000
exemption for women and senior citizens), interest on bank
deposits is made tax-free and there is no tax on pension if
you are over 60 years of age. The BJP had promised all this
and more in its 2009 manifesto. This time around, the party
toned down its promises, couching them in vague statements
without mentioning specific measures.
|
| RBI |
| RBI eases rules for firms to raise
funds via ECBs |
|
Maharashtra : Relaxing norms
to raise money via external commercial borrowings (ECBs), the
Reserve Bank has allowed firms in manufacturing, hospitals,
infrastructure, hotels and the software sector to raise
foreign capital from foreign/indirect equity holders without
its approval.As per the extant ECB policy, ECBs from direct
foreign equity holders (FEHs) are considered both under the
automatic and the approval routes.
|
| Finance & Money
Markets |
| Rupee at 11-month high, RBI
intervention seen |
|
Maharashtra : The victory of
the Bharatiya Janata Party-led National Democratic Alliance
(NDA) resulted in the rupee ending the day at an 11-month
high, due to dollar flows into domestic markets. Though
state-run banks were buying dollars on behalf of the Reserve
Bank of India (RBI), dollar sales by exporters and custodian
banks helped the rupee. The earlier such high was on June 19
last year, when the rupee ended at 58.72.
|
| High on reforms hopes, FIIs likely to
pump up volumes |
|
Maharashtra : Foreign
portfolio investors (FIIs) could pump up the volumes in equity
markets with their bets of a reforms-oriented government
coming true after the BJP-led coalition swept to victory in
the 16th Lok Sabha elections, even as domestic institutions
led by banks and mutual funds remaining sceptical of the rally
that began since mid-February.
|
| Commodities |
| Gold, silver plunge on global cues,
rupee |
|
Delhi : Gold prices plunged
by Rs 500 to Rs 29,600 per 10 grams in the national capital
today due to low demand from jewellers and retailers amid a
weak global trend and strengthening rupee. Silver also
plummeted by Rs 900 to Rs 41,500 per kg on poor offtake by
industrial units and coin makers. Traders said subdued demand
from jewellers and retailers at prevailing levels and a weak
global trend led to fall in gold and silver prices.
|
| Govt hikes import tariff value on
gold, silver |
|
Delhi : The government today
hiked the import tariff value on gold and silver to USD 424
per 10 grams and USD 650 per kg respectively, in view of
volatile global price trends. Till the first fortnight of May,
tariff value on imported gold stood at USD 422 per 10 grams
and silver at USD 632 per kg. The import tariff value - base
price at which customs duty is determined to prevent
under-invoicing - is revised on a fortnightly basis taking
into account the volatility in global prices.
|
| INTERNATIONAL
BUSINESS |
| Abbott Laboratories : to acquire
Chilean generic firm CFR in $2.9bn
deal |
|
Medical-products giant Abbott
Laboratories has entered into a firm agreement to acquire
Chilean generic pharmaceutical company CFR in a $2.9 billion
deal that will more than double its branded generic drugs
business in the fast-growing Latin American market.Under the
terms of the agreement, Abbott will acquire the holding
company, controlled by the Weinstein family, that indirectly
owns 72.62 percent of CFR Pharmaceuticals and will conduct a
public cash tender offer by Nov.
|
| Banking |
| Banking shares on a roll, Bank Nifty
zooms over 10% |
|
Delhi : Banking shares are
on a roll with the Bank Nifty, a gauge for banking shares,
rallying 10.6% to 15,742, also its record high on the National
Stock Exchange (NSE). The benchmark CNX Nifty has gained 6.2%
to 7,563.50, also its new high today.ICICI Bank, State Bank of
India, Canara Bank, Punjab National Bank, Kotak Mahindra Bank,
HDFC Bank, Axis Bank and YES Bank has surged between
8-20%.
|
| Tenders
& Assignment |
Punjab Municipal Infrastructure Development
Company  |
|
Description :Expression of
interest from chartered accountant firm & company
secretary firm on retainership basis.
Last
Date : 30/05/2014
Address
:Punjab Municipal Infrastructure Development
Company,SCO 89-90, 1st Floor, Sector 34-A,Chandigarh – 160034
Phone :0172-4020101-108,
|
| Department Of Agriculture - Panchkula
Haryana |
|
Description :Engagement of
Chartered accountants.
Last Date :
05/06/2014
Address :Department Of
Agriculture,Krishi Bhawan,Sector-21,panchkula
|
| |
| Reminders |
| Tenders |
| Uttaranchal Gramya Vikas
Samiti 19/05/2014
|
| Department Of Health And Family Welfare -
Chandigarh Punjab 19/05/2014
|
| Haryana Forest Development Corporation
Limited 19/05/2014
|
| Brahmaputra Valley Fertilizer Corporation
Limited 19/05/2014
|
| Joint Electricity Regulatory
Commission 19/05/2014
|
| Employees Provident Fund
Organisation 20/05/2014
|
| Jharkhand State Rural Road Development
Authority 20/05/2014
|
| Orissa Tribal Empowerment And Livelihoods
Programme 20/05/2014
|
| Cantonment Board - Ranikhet
Uttarakhand 20/05/2014
|
| Housing And Urban Development Corporation
Limited 21/05/2014
|
| Gujarat Livelihood Promotion Company
Limited 21/05/2014
|
| Gujarat State Road Development Corporation
Limited 23/05/2014
|
| Maharashtra State Rural Livelihoods
Mission 23/05/2014
|
| United Bank Of India - Kolkata West
Bengal 24/05/2014
|
| Watershed Development
Department 24/05/2014
|
| |
| Notifications
& Circulars |
| RBI |
| Notification No.
RBI/2013-14/591 (Delhi) 15/05/2014
|
|
Treatment of RIDF and certain other funds
under priority sector
|
| Notification No.
RBI/2013-14/592 (Delhi) 15/05/2014
|
|
Levy of Penal Charges on Non-Maintenance of
Minimum Balances in Inoperative Accounts
|
| Notification No.
RBI/2013-14/590 (Delhi) 13/05/2014
|
|
Issuance and Operation of Pre-paid Payment
Instruments in India – Consolidated Revised Policy
Guidelines
|
| |
|
 |
| Economy |
| India |
| IT stocks lose lustre, as rupee gains
strength |
| Address macroeconomic issues, say rating agencies
to next govt |
| Foodgrain production estimate revised up at
record 264.38 mt |
| India’s exports driven mainly by fuel products
while manufacturing falters |
| |
| International |
| Portugal's economy: Two steps forward, one step
back |
| Worry settles over Wall Street as stocks
stall |
| Italian economy falls back in blow for
Renzi |
| Stock market manages slight gain after choppy
day |
| US housing levels see sharp jump in
April |
| China Bad Loans Rise Most Since 2005 as Economy
Slows |
| |
| Corporate
Watch |
| Reliance Industries to appoint Nita Ambani
as director on board |
|
Maharashtra : Mukesh Ambani's wife
Nita is set to join the board of India's largest private
sector company Reliance Industries Ltd. Shareholder approval
for her appointment will be sought at RIL's annual general
meeting on June 18, said a company release. She currently
heads Reliance Foundation, the company's philanthropic
initiative, and is also closely engaged in running the
Ambani-owned Mumbai Indians Indian Premier League team. On the
RIL board, she will replace long-serving director Ramnik H
Ambani, 90, who is due to retire.
|
| Adani Ports acquires Dhamra Port on east
coast of India for Rs 5,500 crore |
|
Maharashtra : Gautam Adani-led
Adani Ports and Special Economic Zone on Friday scooped up the
strategic Dhamra port on the east coast of India for an
enterprise value of Rs 5,500 crore. The company signed a
definitive agreement to buy the port from a 50:50 joint
venture of Tata Steel and Larsen & Toubro, on a day when
Narendra Modi-led Bharatiya Janata Party won a massive mandate
in the general elections.
|
| Cadila Healthcare Q4 profit down 8.7% to Rs
239 cr |
|
Delhi : Cadila Healthcare on Friday
reported 8.7 per cent decline in consolidated net profit to Rs
239 crore for the quarter ended March 31 due to higher tax
expense. The company had reported net profit of Rs 262 crore
in the January-March quarter of 2012-13.Net sales in the
quarter were up 22 per cent to Rs 1,916 crore against Rs
1,565.5 crore a year ago, the company said in a BSE
filing.
|
| NBFC
CORNER |
| A single window for auditors of non-banking
finance companies |
| |
| Tenders
& Assignment |
| Forward Markets Commission - Government of India
|
|
Description :Empanelment of
Auditors for conducting Audit /Inspection of books of accounts
of Commodity Exchanges and its members
Last Date
: 26/05/2014
Address
:Forward Markets Commission, Government of India
,“Everest” 3rd floor, 100 Marine Drive, Mumbai – 400002.
Phone :022-22795300
|
| Punjab & Sind Bank |
Description :Application For
Assignment Of Concurrent Audit For Chartered Accountant Firm
In Punjab & Sind Bank. Last Date
: 26/05/2014 Address :DGM
(I) Punjab & Sind Bank H.O. Inspection Department,
06,Scindia House, Connaught Place, New Delhi-110001
Phone :011- 23716646
E-Mail :ho.insp@psb.org.in
|
| Housing And Urban Development Corporation Limited
- Dehradun |
Description :Notice inviting tender for
Appointment of Chartered Accountant for certification of
Accounts for the Financial Year 2014-2015
Last
Date : 27/05/2014
Address
:Housing & Urban Development Corporation Limited,
(HUDCO), II-Floor, 74/1, GMVN Building, Rajpur Road,
Dehradun-248001
Phone
:0135-2748405 / 2740353
|
| Rajasthan Medical Services Corporation
Limited |
Description :Invites offers
from chartered accountant firms for internal auditor services
(head office & division as a functional unit).
Last Date : 28/05/2014
Address :Rajasthan Medical Services
Corporation,Swasthaya Bhawan,C-Scheme,Jaipur
Phone :0141-2228061
E-Mail :edf-rmsc-rj@nic.in
|
| Hospital Services Consultancy Corporation [
India] Limited |
|
Description :PSU Wished to
Engage Firm of Chartered Accountants as Internal cum
Concurrent Auditor for three Financial years 2014-15 to
2016-17.
Last Date : 28/05/2014
Address
:E-6(A),Sector-1,Noida(U.P)-201301
|
| Dena Bank |
|
Description :Selection of
Concurrent auditors in dena bank for 2014-15.
Last Date : 28/05/2014
Address :Multi Location - Multi State
|
| Sarva Shiksha Abhiyan - Srinagar - Jammu kashmir
|
|
Description :Expression of
interest from the CAG empanelled chartered accountants firms
(partnership / sole proprietorship firms with one full time
chartered accountant (FCA) in the prescribed format for short
listing of panel for statutory audit of the accounts of sarva
shikshna abhiyan for the year 2013-14.
Last
Date : 30/05/2014
Address
:Madina Housing Colony,Bemina Srinagar/105 karan
Nagar Jammu
Phone :0191-2563496
|
| |
|
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