RBI holds foreign exchange awareness camp in Srinagar

SRINAGAR: To aware customers about the foreign exchange facilities available and the restiction under the Foreign Exchange Management Act (FEMA), Reserve Bank of India on Tuesday held a awareness camp at SKICC here.
The camp according to an RBI spokesperson was chaired by the bank’s Regional Director for Jammu & Kashmir, KK Saraf. Saraf, according the spokesperson, exhorted the authorized dealers in J&K to educate their customers about various facilities available to exporters, importers, travelers, businessmen, tourists etc. without contravening the provisions of the Foreign Exchange Management Act (FEMA), 1999.
Saraf also highlighted the importance of organizing these meetings and dwelt at length on the role and responsibilities of authorized dealers in meeting the genuine requirement of foreign exchange users within the provisions of FEMA, 1999.
Kiran Sharma, Deputy General Manager, RBI, Jammu discussed latest developments in the arena of foreign exchange regulation which sought to align the regulatory requirements with the market demands while ensuring hassle free services to the customer. The queries raised by the customers were answered by the authorized dealers. The customers thanked RBI for holding this meeting at Srinagar and desired that more such events should be organized in future.
The meeting was attended by senior officers of all the Authorized Dealers (ADs) operating in Jammu and Kashmir and a sizeable number of foreign exchange customers.