13th December 2011
Srinagar
Sub Committee Meeting of SLBC for Export Promotion
As Convenor J&K State Level Bankers Committee (SLBC), the Jammu & Kashmir Bank convened a sub-committee meeting of SLBC for export promotion yesterday here at J & K Bank Zonal Office Rail Head Complex Jammu.
The meeting was chaired by Executive President of the Bank G. M. Sahibzada.
The meeting started with welcome address by Sunil Gupta SEM, Forex Business J&K Bank who briefed the meeting about present economic scenario of the global economies and its effects on Indian exports.
Initiating the discussion, Executive President G. M. Sahibzada outlined the purpose of the meeting and highlighted various issues which needed discussion /deliberation of the house.
The participants in the meeting were President (A& AP) J&K Bank Shafat Ahmad Banday, Vice Presidents J&K Bank M. S. Wani & P. K. Tickoo, Dy. General Manager (RBI) Regional Office Jammu, Deputy Secretary Finance, Finance Department J & K Government, DGM Punjab National Bank, Secretary General Kashmir Chamber of Commerce and Industry (KCCI), President Jammu Chamber of Commerce & Industry, President Federation Chamber of Industries Kashmir (FCIK), Jt. Director General Foreign Trade (DGFT) Jammu, officials from State Bank of India and Canara Bank and representatives of J&K Walnut Association, Export Credit Guarantee Corporation of India Ltd. (ECGC), SIDCO, Industries & Commerce Department J & K Government.
The meeting was informed that Export Credit Guarantee Corporation of India (ECGC) has established its office at Srinagar and DGFT office is going to become operational at Srinagar within a month, which was a long pending demand of the exporters of the valley.
The issue of establishment of Inland Container Depot (ICD) at Srinagar was discussed and representative of SIDCO, the implementing agency for the project, informed the meeting that the ICD at Rangreth Srinagar will be completed within coming six to eight months.
The associations & trade bodies demanded that Govt. of India should continue & increase export incentive like duty drawback & DEPB.
The issue of recent hike in stamp duties on loan documentations/registration by the State Government was raised by trade bodies and it was demanded that the State Government should revisit the stamp duty rates as it is hampering the credit flow to the business community. Representatives of J&K walnut Association also raised the issue of non-refund of VAT on walnuts which is pending since 2005-06.
The meeting concluded with vote of thanks by Mr. M. S. Wani Vice President J & K Bank.
The meeting was chaired by Executive President of the Bank G. M. Sahibzada.
The meeting started with welcome address by Sunil Gupta SEM, Forex Business J&K Bank who briefed the meeting about present economic scenario of the global economies and its effects on Indian exports.
Initiating the discussion, Executive President G. M. Sahibzada outlined the purpose of the meeting and highlighted various issues which needed discussion /deliberation of the house.
The participants in the meeting were President (A& AP) J&K Bank Shafat Ahmad Banday, Vice Presidents J&K Bank M. S. Wani & P. K. Tickoo, Dy. General Manager (RBI) Regional Office Jammu, Deputy Secretary Finance, Finance Department J & K Government, DGM Punjab National Bank, Secretary General Kashmir Chamber of Commerce and Industry (KCCI), President Jammu Chamber of Commerce & Industry, President Federation Chamber of Industries Kashmir (FCIK), Jt. Director General Foreign Trade (DGFT) Jammu, officials from State Bank of India and Canara Bank and representatives of J&K Walnut Association, Export Credit Guarantee Corporation of India Ltd. (ECGC), SIDCO, Industries & Commerce Department J & K Government.
The meeting was informed that Export Credit Guarantee Corporation of India (ECGC) has established its office at Srinagar and DGFT office is going to become operational at Srinagar within a month, which was a long pending demand of the exporters of the valley.
The issue of establishment of Inland Container Depot (ICD) at Srinagar was discussed and representative of SIDCO, the implementing agency for the project, informed the meeting that the ICD at Rangreth Srinagar will be completed within coming six to eight months.
The associations & trade bodies demanded that Govt. of India should continue & increase export incentive like duty drawback & DEPB.
The issue of recent hike in stamp duties on loan documentations/registration by the State Government was raised by trade bodies and it was demanded that the State Government should revisit the stamp duty rates as it is hampering the credit flow to the business community. Representatives of J&K walnut Association also raised the issue of non-refund of VAT on walnuts which is pending since 2005-06.
The meeting concluded with vote of thanks by Mr. M. S. Wani Vice President J & K Bank.