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| RBI, J&K Bank interactive meet concludes | | | EARLY TIMES REPORT
Srinagar, Dec 12: Interactive meet organized by the Reserve Bank of India in association with J&K Bank concluded today. Speaking on the occasion, Regional Director (Jammu), RBI, K K Saraf expressed that financial literacy and financial inclusion are their focused targets in J&K.
He said that in anticipation of increase in volume of foreign exchange business due to revival of tourism and handicraft sectors in J&K, need was felt to hold a session on FEMA, 1999 for general awareness of bankers and customers.
Chief General Manager RBI Mumbai Rashmi Fauzdar, Executive President, J&K Bank, Parvez Ahmad, Presidents J&K Bank Shafat Ahmad, Nayeemullah, Vice President.P.K. Tickoo, DGM FED RBI Jammu A.K Mattu and DGM FED RBI MumbaiP K Kar were also present on the occasion.
The interactive session was attended by trade bodies, exchange houses, AD branches and a good number of valuable customers representing cross section of valley businessmen engaged in imports and exports of various goods and services.
At the onset P K Tickoo presented the welcome address to the guests on behalf of J&K Bank and stressed the participants to make use of this opportunity for knowledge enhancement and better awareness about FEMA provisions from the presence of top officials of RBI.
Both A K Mattu DGM FED Jammu and P K Kar DGM FED RBI Mumbai spoke at length about the trade regulations and obligations for exporters and importers. FED RBI Mumbai then presented a power-point presentation on export-import regulations.
Speaking on the occasion, CGM RBI (FED) Mumbai Rashmi Fauzdar said that FEMA 1999 envisages moving away from micro-regularities of transactions by giving freedom and responsibility to Authorised
Dealers (AD) and gave details of recent measures taken by RBI in this regard.
The participants appreciated the J&K Bank for facilitating such informed and intense interactions wherein the bankers educate and guide them through safe and secure business procedures and mechanisms.
Parvez Ahmad, Executive President presented the vote of thanks to the gathering |
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