Newsletter dated 3rd July, 2015

1. THOUGHT OF THE DAY
“Strength and growth come only through continuous effort
and struggle…”
ECONOMIC UPDATES
 With a view to improve credit discipline and reduce NPA level, the Reserve
Bank today asked lenders to make use of credit information available with
Central Repository of Information on Large Credits (CRILC) for opening of
current accounts.
SEBI/CORPORATE UPDATES
 The FIIs have been asked to prove that they do not have a place of business
in India. If they cannot prove that they do not have a place of business in
India then they need to maintain book of accounts and pay MAT.
 Vide DGFT Public Notice No. 24/2015-20 notified amendment in Area /
Region of operation of Pre-Shipment Inspection Agencies appearing in
Appendix- 2G of Appendices and Aayat Niyat Forms of FTP 2015-20.
RBI/TAX LAW UPDATES
 Vide RBI Press Release : 2015-2016/27 notified that Reserve Bank will put
in place a regulatory framework to allow a new kind of Non-Banking
FINANCE Company (NBFC), which could act as an account aggregator to
enable the common man to see all his accounts across financial
institutions in a common format. The idea of such an NBFC had emanated
from the Financial Stability and Development Council (FSDC).
 Vide DVAT Notification F.IV/Misc/ESM/16/2014-15/7886-92 notified
that The Services Department has created a module called "HRMS" for
updating staff information. All the regular employee of this department are
hereby directed to submit the information as per proforma uploaded on
the website in the Admn/HR Branch within two days.
 Vide Notification RBI No 2015-16/109 DBR.No.BP.BC.26/21.04.098/
2015-16 notified that on Liquidity Risk Management by Banks in terms of
which banks are required to prepare structural liquidity statement (Rupee)
as per the format prescribed in Appendix II (Liquidity Return, Part A1). It
has, therefore, been decided that banks can slot their excess SLR securities
and MSF eligible securities under the Day-1 bucket.
 Vide CBDT NOTIFICATION NO. 57/2015 notified the 30th day of
September, 2015 as the date on or before which a person may make a
declaration in respect of an undisclosed asset located outside India.
MARKET UPDATES
SENSEX
28,106.55 160.75
CNX NIFTY
8,488.30 43.40
DOLLAR/ RUPEE
63.51 -0.01
MCX SILVER
35,885.00 12.00
MCX GOLD
26,235.00 40.00
MCX CRUDE OIL
3,601.00 -40.00
Dow Jones Industrial
average
17,730.11 -27.80
Nasdaq Composite
5,009.21 -3.91
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