Symposium on Foreign Exchange Management by The Reserve Bank of India
December 19, 2009

Economic Forum 2009, SPJIMR organised a symposium on foreign exchange management in association with RBI. The RBI team consisted of top officials of the RBI forex department led by Shri Salim Ganghadharan, CGM-incharge and ShriD. Mishra, CGM.

The speakers discussed in detail the evolution of foreign exchange and its management in India. They presented the drawbacks of FERA and the reasons for launching FEMA, facilities for residents and non-residents, hedging and restrictions on it under the Indian laws, the RBI policies during the recent financial crisis and their effectiveness.

Shri Ganghadharan highlighted that even though India's capital account is not fully convertible, it allows considerable freedom to carry out capital account transactions. Thiswas illustrated with the help of the Tata- Corus Deal.

Corporates such as KPMG, Citibank, Reliance and Ernst & Young also attended the event. The symposium was a gathering of the policy makers and the policy compliers.

The event ended with a Q&A round. The participants posed questions and commended the Central Bank for doing a remarkable job in handling the recent crisis of recession, better thanmost countries in theworld.