Sri City :- For increasing awareness on foreign exchange regulations under the Foreign Exchange Management Act (FEMA) the Reserve Bank of India (RBI) and Sri City jointly organised a seminar in Sri City today (Friday). The participants of the seminar included Heads and Finance Executives from different industrial units in Sri City. Mr. C. Ramesh Kumar, Vice President (Customer Relations), Sri City extended warm welcome to the delegates and the RBI Officials.

Inaugurating the seminar, Mr. R. Muthuraj, ITS, Development Commissioner, Sri City SEZ appreciated the organisers and appealed the participants to interact actively with the resource persons.

Ms. Sailaja Rani, DGM, RBI (Hyderabad) explained the objective of convening the session, and said that RBI conducts such interactive sessions to spread awareness and clarify issues on FEMA.  She introduced the resource persons and the topics on which they would give lectures in the subsequent sessions.

Thanking the RBI for the holding the seminar in Sri City Mr. Ravindra Sannareddy, Founder Managing Director, Sri City said,”So as to give an opportunity to the executives for updating their knowledge in relevant fields of their work, regularly we organise sessions of this kind, as part of continuing education. I am sure, the conclave will provide a great opportunity for all the stakeholders to learn and exchange ideas and interact with the experts.”

The seminar was organised in three different sessions. In the first session Mr. Kalyan Chakravarthy, AGM, RBI and Ms. Renuka Balakrishnan, AM, RBI gave a lecture on ‘Capital Account Transactions, Regulations and Reporting’. In the next lecture,  Mr. Kalyan Chakravarthy, AGM and  Mr. E. Ganesh, AM, RBI discussed in detail on ‘Compounding and  Scope & Jurisdiction’. In the last session Ms. Sudha Venkatraman, Manager, RBI gave a presentation on ‘Foreign Trade Procedures & Export Data Processing and Monitoring System’.

About 60 executives have attended the seminar, and at the end of each session they interacted with the speakers and got clarified their doubts. The RBI organises such interactive sessions with public in an effort to demystify the foreign exchange transactions and ensure that they follow the rules and regulations in vogue under the FEMA Act.

The seminar was coordinated by Mr. Senthil Kumar, M/s Deloitte India.