1. 1
PGC
NEWSLETTER
13th
March 2014
THOUGHT OF THE DAY
“ to live a creative life, we must lose our
fear of being wrong”
ECONOMICS NEWS
• Consumer Price Index (CPI)-based inflation fell to 8.1 per cent in
February, the second-lowest since the index was launched in 2012.
• The index of industrial production (IIP) rose 0.1 per cent in
January after contracting for three consecutive months. Factory
output grew for the first time in four months in January on the
back of higher power generation and better production by the
mining sector.
CORPORATE LAW UPDATES
• After imposing a hefty fine of Rs 1,773 crore on state-owned Coal
India Ltd, the Competition Commission of India (CCI) might now
soon penalise a government agency, the Delhi Development
Authority (DDA).
• SEBI today tightened norms aimed at countering money
laundering and terror financing through the capital markets and
asked market entities to conduct detailed risk assessment of their
clients, including those linked to countries facing international
sanctions.
RBI / TAX LAW UPDATES
• An internal instruction by the foreign tax division of the Central
Board of Direct Taxes will put an end to litigation relating to the
tax to be withheld at source in India by the Indian payer in cross-
border transactions & mergers and amalgamations (M&A) deals.
• RBI reviewed the provision of Priority Sector Lending-Targets and
Classification-Bank loans to MFIs for on-lending-pricing criteria.
MARKET UPDATES
SENSEX
21,906.95 50.73
CNX NIFTY
6,533.90 17.00
DOLLAR/ RUPEE
60.94 -0.29
MCX SILVER
46755.00 -0.04
MCX GOLD
30,483.00 11.00
MCX CRUDE OIL
5990.00 0.12
Dow Jones Industrial
Average
16,340.08 -11.17
Nasdaq Composite
4323.33 16.14