Don’t attract towards alluring fictitious offers in form of lottery, business deals, credit cards etc: RBI

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Photo: Arvind Sharma, Dharamshala.

Dharamshala, December 5, 2017: The Foreign Exchange Department of the Reserve Bank of India, Chandigarh organised a Conference “Forex for You” for Authorised Dealer (AD) Banks, their exporter/importer/FDI clients and FFMCs at McLeodganj in Dharamshala (Himachal Pradesh ) today. Mr Harish Khanna, AGM, FED, Chandigarh said, “RBI has been conducting such programmes from time to time at various places in order to increase the level of awareness amongst the stakeholders on various forex matters.”
Mr Nirmal Chand, Regional Director, RBI Chandigarh emphasised the role of Authorised Dealers in promoting/ facilitating trade transactions. He added, “This assumes greater significance in export/tourist intensive areas such as Dharamshala and its surroundings. RBI’s vision is to reach the last mile in terms of raising customer awareness in respect of various regulations governing the financial sector.” He also expressed concern over the rising incidences of alluring fictitious offers in the form of lottery, business deals, credit cards etc. and urged the participants to spread awareness among the general public not to fall prey to all these offers and lose money.

Chief Guest of the function Mr Sandeep Mittal, General Manager, FED, Central Office Mumbai discussed the emerging challenges and opportunities for various stake holders in the forex market. He gave a detailed presentation on recent regulatory pronouncements on foreign trade, merchanting trade, EDPMS/IDPMS, NRO/NRE accounts, remittance facilities, etc.
This was followed by a highly interactive ‘Open House Session’ in which all the dignitaries replied to the queries raised by the participants on varied issues. Shri Sunil Soni, Circle Head, Punjab National Bank and other senior bankers/money changers and their customers from the region were present in the conference.

Date: 
Tuesday, December 5, 2017