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

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

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http://www.csrajivbajaj.com

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.