Reserve Bank of India (RBI) in association with J&K Bank organized a two-day interactive meet with bankers on Foreign Exchange Management Act (FEMA)-1999 at the Bank’s Corporate Headquarters (CHQ) in Srinagar.
The meeting was chaired by RBI regional director (Jammu), K K Saraf and was attended by representatives of SBI, PNB, HDFC and other officers of the J&K Bank. Various issues were dwelt upon regarding the current investment climate in the country detailing the issues faced and the measures taken by the RBI in improving the overall economic situation especially the foreign investment. The team also discussed about the various relaxations made by the RBI to facilitate foreign trade of the country besides helping Banks to deal with problems faced in foreign exchange.
With a view to disseminate the information about various facilities available under FEMA- 1999, another interactive meeting is being organized on December 12, especially for exporters and other forex users at Bank’s CHQ.