newsletter dated 25th june, 2016
TRANSCRIPT
www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“The greatest virtues are those which are most useful to other
persons.”
Law Updates:
The MCA21 system will be temporarily unavailable from 8:00 am
to 4:00 pm IST on Sunday, 26th June 2016 for system maintenance.
Stakeholders are requested to plan accordingly.
Form AOC-4 is likely to be revised on MCA21 Company Forms
Download page w.e.f 26th June 2016. Stakeholders are advised to
check the latest version before filing.
RBI approved royalty rate has only persuasive value, it isn't
conclusive to determine Arm Length Price: Tribunal Delhi
High Court chastised AO for assessing interest on accrual basis even
when assessee was following cash method of accounting: Punjab &
Haryana High Court.
SEBI proposes to allow eligible fund managers to handle foreign
money from Indian shores.
PROFESSIONALS INPUTS:
CBEC vide Notification No. 89/2016 - Customs (N.T.) dated 24th
June, 2016 hereby makes the further amendments in the
Notification of the Central Board of Excise and Customs
No.87/2016-CUSTOMS (N.T.), dated 16th June, 2016, with effect
from 25th June, 2016.
CBEC vide Circular No. 30/2016-Customs dated 24th June, 2016
has Increase in All Industry Rates (AIR) of Duty Drawback on gold
jewelry and silver jewelry/articles- reg.
MARKET WATCH:
SENSEX: 26397.71 -604.57 NIFTY: 8088.60 -181.85
SILVER: 42392.00 1202.00 GOLD (MCX): 31401.00 1487.00
USD/INR: 67.96 0.71 CRUDE OIL: 3266.00 -89.00
CS Rajiv Bajaj
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Date: 25th June, 2016
www.csrajivbajaj.com
Arundhati Bhattacharya
Chair- Managing Director-SBI
Arundhati Bhattacharya is an Indian banker and currently the
Chair-Managing director of the State Bank of India. She is the first
woman to be the Chairperson of State Bank of India. In 2016, she
was listed as the 25th most powerful woman in the world by
Forbes.
Early life and Education
Bhattacharya was born in a Bengali Hindu Kulin Brahmin family in the city of Kolkata. She spent her
childhood in Bhilai. Her father, Prodyut Kumar Mukherjee worked at Bhilai Steel Plant. Her mother,
Kalyani Mukherjee was a homeopathy consultant in Bokaro. She completed her schooling from St.
Xavier's School, Bokaro
She studied English Literature at Calcutta’s Lady Brabourne College and then at Jadavpur University.
Her husband is an ex-professor of IIT Kharagpur.
Professional Career
Bhattacharya joined SBI in September 1977. She is the first woman to lead an India-based Fortune
500 company. Initially she joined SBI in 1977 as probationary officer at the age of 22 years.]She has
held several positions during her 36-year career with the bank including working in foreign exchange,
treasury, retail operations, human resources and investment banking. This included positions like chief
executive of the bank's merchant banking arm- State Bank of India Capital Markets; chief general
manager in charge of new projects. She has also served at the bank's New York office. She has been
involved in the launch of several new businesses such as SBI General Insurance, SBI Custodial
Services and the SBI Macquarie Infrastructure Fund. She succeeded Pratip Chaudhuri, as Chairperson,
who retired 30 Sep. She introduced a two-year sabbatical policy for women employees for child or
elder care. This Women's day she is thinking of introducing free vaccination against cervical cancer to
all her woman employees.
In 2015, she was named the 30th most powerful woman in the world by Forbes. This is her first time
being ranked on the list. In the same year, she was ranked among the FP Top 100 Global
Thinkers by Foreign Policy magazine. She was named the 4th most powerful women in Asia Pacific
by Fortune.