| Professional
News |
| Misc. - Direct
Tax |
| Give top priority to taxation issues:
experts to new government |
|
Delhi : The new government
should accord priority to raising income tax slab,
implementing Direct Taxes Code (DTC) and Goods and Services
Tax (GST) with a view to give relief to common man as well as
the industry, tax experts have suggested. "The key expectation
that a common man has from the new government is widening of
tax slabs," said Divya Baweja, Partner, Deloitte Haskins &
Sells.
|
| SEBI |
| Sebi seeks tax sops for MF
investors |
|
Delhi : In a bid to boost
the mutual fund (MF) industry, the Securities and Exchange
Board of India (Sebi) has requested the finance ministry to
consider tax sops and other measures for investors. A final
decision in this regard will be taken by the new
government.These are part of Sebi's efforts to incentivise and
channelise household savings into long-term investment
products.Sebi had approved these measures and it has now
written to the finance ministry.
|
| RBI |
| RBI’s early warning signal suggests
Rs 66,000 cr NPAs |
|
Maharashtra : Bank loans
that aren’t non-performing assets (NPAs) yet but could turn
problematic at some point vary anywhere between 4% and 8% of
total advances, a sample study of a few public sector banks
shows. Following a fiat from the Reserve Bank of India (RBI),
banks have put in place a mechanism to spot troubled loan
accounts early in the day, classifying these potentially
troublesome exposures as “Special Mention Accounts”
(SMAs).
|
| RBI to banks: Alert customers on
fraud remittance schemes |
|
Maharashtra : To ensure that
customers do not fall prey to fraudulent schemes promising
cheaper funds from abroad, the Reserve Bank of India wants
banks to consider prominently displaying messages cautioning
them about the schemes on their websites as well as branch/ATM
locations.The central bank also said banks could consider
incorporating a column on “reason/ purpose for payment” in
pay-in slips so that officials could advise customers not to
remit money to fraudsters who float fraudulent
schemes.
|
| Finance & Money
Markets |
| FII flows in debt seen picking up on
stable govt |
|
Maharashtra : Foreign
institutional investors (FIIs) are set to pump in more funds
in debt securities, as the next government under the Bharatiya
Janata Party (BJP) is expected to be a stable one and is seen
as growth-oriented by market participants.The flow of FII
money in debt instruments picked up this month - they were
net-sellers in April - as hopes for a stable government became
firm, particularly after exit polls showed BJP coming close to
a simple majority in the Lok Sabha.
|
| MERGER &
ACQUISITION - NATIONAL |
| Kumar Birla to acquire 16% stake in
Century Textiles |
|
Maharashtra : Kumar Mangalam
Birla will directly purchase a stake of about 16% in cement to
garments maker Century Textiles and Industries which he is
eventually set to inherit from grandfather Basant Kumar Birla,
according to a notice to shareholders. Four private companies
will be used to consolidate the holding of the Aditya Birla
Group chairman for the first time in the 117-year-old history
of Century Textiles.
|
| Speciality Restaurants in talks to
buy stake in Sanjeev Kapur's SK
Restaurants |
|
Maharashtra : Speciality
Restaurants, which runs chains such as Mainland China, Sigree
and Oh Calcutta, has begun talks to purchase a significant
stake in celebrity chef Sanjeev Kapoor's SK Restaurants Pvt
Ltd, three people with knowledge of the matter said. SK
Restaurants, previously known as Indian Cookery, operates
Khazana, The Yellow Chilli, Pin Yin, Signature by Sanjeev
Kapoor and Sura Vie Lounge chains.
|
| Pension/Provident
Fund |
| Minimum monthly pension of Rs 1,000
soon under EPS-95 |
|
Delhi : The UPA government's
decision to ensure a minimum pension of Rs 1,000 a month under
the retirement fund body EPFO's scheme, which will immediately
benefit 28 lakh pensioners, is going to be a reality soon.
"The UPA government's decision to ensure minimum monthly
pension of Rs 1,000 to subscribers of Employees' Pension
Scheme-95 (EPS-95) will be implemented now as the elections
are over," an EPFO official told a news agency.
|
| Banking |
| New recast rules may spell fresh
trouble for asset reconstruction
companies |
|
Maharashtra : The new rules
of restructuring may be designed to turn around the fortunes
of stressed banks, but the measures appear to be sowing fresh
seeds of trouble for asset reconstruction companies (ARCs),
which are buying these assets. In 2013-14, sale of bad loans
to ARCs jumped to Rs 27,000 crore from Rs 8,000 crore in the
previous financial year, and the figure is likely to double
further in the current fiscal, financial services company
Credit Suisse said in a report.
|
| Reminders |
| Tenders |
| Cantonment Board - Ranikhet
Uttarakhand 20/05/2014
|
| Orissa Tribal Empowerment And Livelihoods
Programme 20/05/2014
|
| Jharkhand State Rural Road Development
Authority 20/05/2014
|
| Employees Provident Fund
Organisation 20/05/2014
|
| Gujarat Livelihood Promotion Company
Limited 21/05/2014
|
| Housing And Urban Development Corporation
Limited 21/05/2014
|
| Gujarat State Road Development Corporation
Limited 23/05/2014
|
| Maharashtra State Rural Livelihoods
Mission 23/05/2014
|
| Watershed Development
Department 24/05/2014
|
| United Bank Of India - Kolkata West
Bengal 24/05/2014
|
| Punjab & Sind
Bank 26/05/2014
|
| National Rural Health Mission
Maharashtra 26/05/2014
|
| Ministry Of Urban Development - New Delhi
Delhi 26/05/2014
|
| North Eastern Development Finance Corporation
Limited 26/05/2014
|
| State Health Society
Jaipur 26/05/2014
|
| State Project Facilitation Unit - Bhopal Madhya
Pradesh 26/05/2014
|
| Watershed Development
Department 26/05/2014
|
| Forward Markets Commission - Government of India
26/05/2014
|
| Mission For Elimination Of Poverty In Municipal
Areas 26/05/2014
|
| |
| |
|
 |
| Economy |
| India |
| Q4 earnings fuel recovery hopes |
| Big improvement in FY 2015 GDP growth
unlikely' |
| BJP government to take a call on hiking LPG,
Diesel prices |
| Peak power deficit drops to 5.4% in April:
Central Electricity Authority |
| |
| International |
| Rising house prices pose biggest risk to
recovery |
| Faster reforms needed, says
China |
| US Fed may need to update its interest rate
guide |
| German economy minister pledges to restrict arms
exports |
| |
| Markets
Today |
| NSE |
7,263.55
|
|
| BSE |
24,363.05
|
|
| NASDAQ |
4,090.59
|
|
| |
|
|
| USD |
58.48
|
|
| EURO |
80.21
|
|
| JPY(100) |
57.82
|
|
| GBP |
98.35
|
|
|
| |
| Corporate
Watch |
| Amul to invest Rs 4,000-4,500 crore in two
years on expansion |
|
Delhi : Gujarat Cooperative Milk
Marketing Federation (GCMMF), which sells products under Amul
brand, is going to invest around Rs 4,000-4,500 crore in next
two financial years for processing higher quantity of
milk.GCMMF has already increased its milk processing capacity
to 230 lakh litres per day from 170 lakh litres per day in
last three years.
|
| Myntra plans to open offline stores to
promote private labels |
|
Karnataka : Myntra plans to open
physical stores across India next year to boost its private
labels, even as talks of the fashion portal's merger with
Flipkart continue.Myntra is likely to continue as a standalone
fashion brand even after its expected merger with Flipkart.
Which is why the company has been beefing up efforts to
promote its flagship private label casual wear line —
Roadster.
|
| Essar Ports to invest Rs 3,000 cr in
projects |
|
Maharashtra : Essar Ports will be
investing Rs 3,000 crore into expansion over the next three
years as it has received environmental clearance and legal
go-ahead from the government in four port projects, which were
stuck for several years, according to a top company official.
“We have started receiving many pending approvals, which will
ensure early commissioning of our four pending projects. These
are the Vizag, Salaya, Hazira and Paradip terminals.
|
| Sapience in talks to raise up to $10
million to fund US expansion |
|
Delhi : Sapience Analytics has
entered into negotiations to raise up to $10 million (Rs 59
crore) in equity funding, as the Pune-based enterprise
software company prepares to establish its footprint in
developed markets, particularly the United States. Sapience,
which has been touted as one of the more promising product
technology firms to have emerged out of India's
fast-burgeoning startup landscape, has held talks with
multiple venture capital firms.
|
| NBFC
CORNER |
A single window for auditors of non-banking
finance companies |
| |
| Tenders
& Assignment |
| 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
|
| 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
|
| Department Of Agriculture - Panchkula
Haryana |
|
Description :Engagement of
Chartered accountants.
Last Date :
05/06/2014
Address :Department Of
Agriculture,Krishi Bhawan,Sector-21,panchkula
|
| |
| Notifications
& Circulars |
| RBI |
| Notification No.
RBI/2013-14/593 (Delhi) 16/05/2014
|
| Undertaking of activity by the Urban Cooperative Banks
(UCBs) as PAN Service Agent (PSA) for providing PAN issuance
services to its customers by entering into tie-up with
authorized Agencies |
| Notification No.
RBI/2013-14/594 (Delhi) 16/05/2014
|
| External Commercial Borrowings (ECB) from Foreign Equity
Holder - Simplification of Procedure |
| |
|
No comments