PHD Chamber Launches FOREX Helpline to Facilitate Ease of Doing Business

PHD Chamber Launches FOREX Helpline to Facilitate Ease of Doing Business

PHD Chamber Launches FOREX Helpline to Facilitate Ease of Doing Business

 

No.PR-20
May 6, 2015
New Delhi
 

PHD Chamber Launches FOREX Helpline to Facilitate Ease of Doing Business
 

PHD Chamber launched the FOREX Helpline to facilitate the businesses in day to day regulatory developments in the foreign exchange markets. The FOREX Helpline will facilitate businesses across the segments with a major focus on MSMEs.
 

Smt. Vandana Khare, General Manager, Foreign Exchange Department, Reserve Bank of India launched PHD Chamber’s FOREX Helpline and termed it as a revolution which is much needed in the dynamic economic environment.
 

“The PHD Chamber FOREX Helpline should be in sync with Make in India, Made in India, Make for India and Make for World and should contribute to it”, said Smt. Vandana Khare.
 

Smt Khare described the five pillars that are pre-requisites for the Make in India initiative of the government, which are Infrastructure Development, Simplification of Procedures, Re-skilling of manpower and de-mystification of various acts and intermediation between policy makers and end users.
 

She further said that infrastructure development and simplification of procedures depend on the government. The RBI has been working in simplification and rationalization of FEMA processes to make them simpler. The RBI has also been taking initiative in Re-skilling by organizing meetings, seminars. She added that the launch of PHD Chamber FOREX helpline will help in demystification and also intermediation between policy makers and end users.
 

Smt. Vandana Khare also suggested that PHD Chamber can provide suggestions on policies that can be on the basis of queries made by the stakeholders.
 

Speaking at the event Mr. Alok B Shriram, President, PHD Chamber said “With the objective of updating on global and domestic changes in the forex regulatory environment and assisting on interpretation of rules, regulations and procedures, the Helpline shall sought to provide assistance to businesses and investors especially the MSMEs in the best possible way”.
 

“FOREX helpline will be a major breakthrough with respect to providing ease of doing business as they face challenges to understand foreign exchange regularity mechanisms”, said Mr. Shriram
 

“With the increased dynamism in the capital inflows, there are a number of regulations which govern not only the Indian financial markets but global financial markets as well. It therefore becomes imperative to have a fair understanding of the key regulations in the domestic and foreign markets to minimize risks and maximize returns”, said Mr. Mahesh Gupta, Senior Vice President, PHD Chamber.
 

Mr. Shyam Poddar, Chairman, Forex Committee, PHD Chamber highlighted the objectives of the Helpline and said that this Helpline will be a medium to get clarifications on FEMA issues and it shall act as a bridge between businesses and regulatory authorities.
 

Mr. Gopal Jiwarajka, Vice President, PHD Chamber gave a hearty vote of thanks and urged the businesses to participate and make full utilization of this initiative of the Chamber.
 

ENDS.

Koteshwar Prasad Dobhal
Consultant (PR)