Foreign Exchange Dealers Association of India

Transcription

1 Foreign Exchange Dealers Association of India 173, Maker Tower F, Cuffe Parade, Mumbai Tel.: / Telefax : mail@fedai.org.in Website : Circular Letter No.22/ th December 2017 All Authorised Dealers in Foreign Exchange Capacity Building FEDAI Training Programmes 2018 Series (NON RESIDENTIAL) A) Orientation Workshops on Foreign Trade and Foreign Exchange Business 5 Days B) Short Duration Workshops on Focused Areas on Foreign Trade and Foreign Exchange Business 2 Days C) Bank Specific workshop on Awareness of Foreign Trade and Foreign Exchange Business - 1 Day FEDAI with the active co-operation of member banks, has been organising orientation workshops on select areas of Foreign Trade and Foreign Exchange Business at various centres for the past 28 years. There has been very good response from our member banks every year. The yearly average participation from our member banks has been between 1300 and 1500 participants. We wish to inform member banks that in the current 2017 series, we have organized 28 Orientation Workshops and one more workshops will be conducted in the remaining part of December As such we shall be completing 29 orientation workshops at 17 centres by 19 nominated member banks catering to more than 1000 officials. Moreover, during the year, FEDAI also organized few special workshops for our member banks. These workshops include 2 Day workshops on Inspection of Foreign Trade and Foreign Exchange Business and Capital Account Transaction and two workshops of 1 day each on SWIFT and foreign exchange transactions were organized by FEDAI for member banks in its premises. These workshops were attended by 172 participants. We are happy to inform you that FEDAI also conducted 7 one Day Bank Specific workshops on Awareness of Foreign Trade and Foreign Exchange Business at 7 centres for State Bank of India and one 3 day orientation workshop was also conducted only for the officials of SBI which were well received by the participants. The response to these workshops at all the centres was highly encouraging and the number of participants was 282. With these short duration workshop, the total number of participants for the year 2017 would be close to A meeting of the nominated member banks was held on Thursday, the 9 th November 2017 in FEDAI Conference Room to review the current series and to plan the workshops for 2018 Series. The meeting was attended by 25 officials of 18 member Banks. At this meeting, the Chief Executive noted, that with the whole hearted support from member banks, workshops under 2017 series were conducted successfully and the total number of participants would be around Mr. P M Pethe, Forex Consultant & Trainer and OSD-Training, FEDAI discussed with the officials his observations in the current series and also possible areas of improvement as regards training inputs, administration, centres, participation fees and budget for expenses. Based on the feedback received on the short duration workshops conducted on Focused Areas of Foreign Trade and Foreign Exchange 1

2 Business, we suggested that in addition to 5 day orientation workshop, members should also propose two day workshops on such areas. The list of the subjects for such workshops is given in the circular. Member banks were also requested to take up Bank Specific workshops only for the officers of individual bank on Awareness of Foreign Trade and Foreign Exchange Business. Appreciating the initiative of FEDAI, member banks unanimously agreed to take-up such workshops. After detailed discussions and suggestions received from member banks, it was decided unanimously to conduct following three types of FEDAI workshops under 2018 Series. The summary is given below Type Workshops Participation Fee Participants Fees Includes Sessions Other Aspects A 5-Day orientation workshops on Foreign Trade and Foreign Exchange Business Rs. 12,000/- Plus applicable GST From All Member Banks 1. One set workshop Books 2. Jute Bag 3. Writing Pad & Pen 4. Certificates of Participation 75 minutes per session (5 sessions per day) Please See detailed guidelines B 2-Day workshop on Focused Areas of Foreign Trade / Foreign Exchange Business Rs. 8,000/- Plus applicable GST From All Member Banks 1. Writing Pad and Pen 2. Caselets, if any 3. Handouts, if any 4. Certificates of Participation 75 minutes per session (6 sessions per day) Please See detailed guidelines C 1-Day workshop on Awareness of Foreign Trade and Foreign Exchange Business Rs. 4,000/- Plus applicable GST Bank Specific workshops (to be proposed by Individual Bank for its officials 1. Certificates of Participation 75 minutes per session (6 sessions) Please See detailed guidelines COMMON INSTRUCTIONS FOR PAYMENT TOWARDS PARTICIPATION FEES IN RESPECT OF ABOVE WORKSHOPS Post introduction of GST, issuance of Invoice is necessary. All nominating banks must furnish their fees remitting branch GSTIN to FEDAI for issuance of Invoice. On the basis of Invoice, payments can be remitted through NEFT. Payment should be made within 5 Days of receipt of Invoice as per account details mentioned below: Beneficiary Name Foreign Exchange Dealers Association of India Bank s Name Canara Bank Branch Cuffe Parade, Mumbai Account Type and Number Savings Bank ; IFSC Code CNRB GSTIN 27AAATF0610P1ZR PAN AAATF0610P Please note that NO TDS is applicable on participation fee since it is subscription paid for a Workshop / Seminar wherefrom NO tax is required to be deducted at source. As you are aware, FEDAI is Association of AD-I Category Banks. FEDAI is a Company registered Under Section 25 of the Companies Act, 1956, and such 2

3 receipts are exempted from Income Tax based on the principle of mutuality. Common instructions on Co-ordination of above workshops with reference to Role of Chief / Local Coordinator or Contact Person, wherever applicable 1) Workshop Type A Chief and Local Ordinator 2) Workshop Type B Only Chief Co-ordinator 3) Workshop Type C Contact Person of the Bank conducting the workshop. GUIDELINES FOR CO-ORDINATION a. Advise FEDAI, the proposed dates of workshops (2/3 times slots) at least a month in advance together with full address of Venue, Telephone, Fax and Mobile Numbers of Chief Co-Ordinator and Local Co-Ordinator, if any, alongwith IDs and designations in their banks. The time slot for the workshop will be approved by FEDAI and simultaneously FEDAI will issue a circular announcing the workshop. b. The Co-ordinators / contact persons have to follow up for nominations not only from Authorised Branches in A & B category but also from C category branches and Regional / Head Offices of Banks. c. For the purpose of follow up, a copy of our Circular be attached to the covering letter of nominated bank and the chief co-ordinator needs to highlight the importance of such workshop for seeking nominations. d. Please advise expected number of participants sufficiently in advance. e. Submit the claim for reimbursement of expenses with supporting bills and receipts in original for our audit requirements. f. The claim for reimbursement of expenses in respect of Type A and Type B workshops should be submitted along with Bio-Data sheet, Feed Back Sheet and report of Co- Ordinator. Imp. Note: The proformas in respect of Bio-Data Sheet, Feedback Sheets and report of Co-Ordinator and the Claim Form will be provided by FEDAI to member banks conducting the workshop together with copy of circular announcing workshop. g. Details of disposal of the workshop books wherever applicable and unused Certificates of Participation should be submitted to FEDAI. h. On the first day of the workshop, a list of participants should be ed to FEDAI. i. Expenses report as mentioned herein below and supporting documents along with participation fees should be forwarded to FEDAI within a week after conclusion of the workshop. Also send us copies of the letters from member banks who nominate their officers for the workshop. j. Surplus sets of Workshop Book after distribution amongst the participants and sale to member banks shall be disposed off as per instructions of FEDAI. EXPENSES: FEDAI will reimburse the nominated banks following expenses depending on type of workshop, as mentioned in the table above on receipt of claims with supporting bills and vouchers in originals after conclusion of the workshop. It may please be noted that the limits prescribed are outer limit and efforts should be made to incur expenses well within the prescribed limits. No deviation will be permitted without prior approval of FEDAI Cost of breakfast / lunch / refreshments / mineral water (if provided) not exceeding Rs. 350/- includes all participants plus chief / local co-ordinator and the speakers per day will be reimbursed by FEDAI. Chief coordinator wherever applicable has to restrict the expenses within this outer limit. These reimbursement are applicable to only Type A and Type B workshops. The workshop needs to be conducted in Training Centres / Colleges of the member bank. As per understanding with the member banks, No infrastructure charges / hiring charges should be claimed directly or indirectly by the member banks conducting the workshop. FEDAI will not permit conducting workshops in Hotels. The workshop will be permitted to be conducted in the training centres / colleges of member banks only where appropriate infrastructure is available. 3

4 Nominated banks are requested to provide us with their account details to enable us to pay the reimbursement claim amount. Format for the said details will be forwarded to nominated banks at the commencement of the workshop. Please note that payment Net of Taxes (wherever applicable) in respect of Faculty members, Chief Coordinator and Local Co-ordinator, if any will be made by FEDAI. Chief Co-ordinator must provide complete bank details for each of them to enable FEDAI to make payment. Format for the same will be ed to nominated bank on commencement of the workshop. CO-ORDINATION OF WORKSHOP 1) It is expected that either the chief or local co-ordinator possesses basic knowledge of Foreign Trade and Foreign exchange business and both the co-ordinators should be physically present for all the days of workshop. The Chief Co-ordinator will be responsible for organizing and conducting the workshop successfully. Once the nominations are received, the participants should be conveyed about the timing of the workshop in general and for Day 1 in particular. 2) On Day 1 Participants should be requested to report at 8.45 am sharp for Registration and Inauguration which should be over by 9.30 am. It must be ensured that the officers are nominated by AD I Banks and they submit their relieving letter for attending workshop. 3) The chief / local co-ordinator will be required to collect the participation fees, if any, by way of DDs, from the participants and forward the instruments to FEDAI. If the fees are paid by NEFT, the UTR No. with the date be advised to FEDAI. 4) If required by the participants, the co-ordinator may issue an acknowledgement to member bank having received the participation fee by way of Demand Draft to be forwarded to FEDAI. He has to submit the details containing name of bank & participant, mode of payment to FEDAI on mail. 5) The Chief co-ordinator is eligible for an honorarium of Rs. 6,000/- per workshop. Additionally, honorarium of Rs. 4,000/- will be paid to the local Co-ordinator of the workshop only if the name is advised to FEDAI initially and his services are availed of in conducting the workshop. DETAILED INFORMATION ON TYPE A, B AND C WORKSHOPS A) ORIENTATION WORKSHOPS 5 DAYS OBJECTIVE: The workshop is for all the member banks. The workshop aims at introduction to various areas of Foreign Trade and Foreign Exchange Business to the officers of member banks who are recently inducted in Foreign Trade and Foreign Exchange Business or to be inducted in near future. As intimated by FEDAI and unanimously agreed by member banks in the meeting, a session will be provided to cover Latest Developments in Foreign Trade / Exchange Business. DURATION: The duration of the workshops (Non-residential) would be five full days, (Monday to Friday). In case, Monday is a Holiday and Saturday is a working day in a particular week, the workshop may be conducted from Tuesday to Saturday. There will be 25 sessions in 5 days and each session will be for 1 hr 15 minutes (The technical sessions must commence at 9.30 am sharp, preceeded by registration and inauguration which should be over in 45 minutes). Participants should be asked to report on Day 1 at 8.45 am sharp for Registration and Inauguration. On the last day, the valediction and distribution of certificates should be completed in 30 minutes after 5 sessions get over. The member bank conducting the workshop should make arrangements for lunch, tea/coffee as per time table approved by FEDAI. STUDY MATERIAL AND WORKSHOP KIT: Books as updated from time to time (6 books + 1 booklet) will be given to all participants free of cost. The price of the workshop books will Rs.1,500/- per set for extra copies. Workshop kit including Bag, Writing Pad and Pen will be supplied by FEDAI upon receiving confirmed nominations alongwith books and certificates. FACULTY: The faculty should be drawn from member banks / Reserve Bank of India, preferably locally. The faculty for the subjects should be carefully selected as the success of the workshop largely depends upon competent faculty. In case suitable faculty is not available locally or a nominated bank needs faculty support on some important topics, FEDAI would be glad to provide the same. The Chief Co-ordinator should approach FEDAI 4

5 well in time. It may please be noted that initially the draft time table will be sent by FEDAI to the Chief Coordinator indicating names of faculty members identified by FEDAI for various sessions. For remaining sessions the chief co-ordinator should identify suitable faculty member and seek approval from Shri P M Pethe, Forex Consultant & Trainer, OSD-FEDAI. PARTICIPATION The ideal number of participants recommended is per workshop. Participants are expected to have some background knowledge and experience in Foreign Trade and Foreign Exchange Business and it should be ensured that the training on Basic Banking is already imparted to them by member banks. The AD I Banks may nominate officers from Regional Office / Zonal Office / Head Office who are responsible OR will be responsible for handling Foreign Trade and Foreign Exchange Business in near future. The officials from C Category branches in international trade and non-resident deposits may also be deputed for attending the workshop. Similarly, the officials in the area of Compliance / Inspection / Audit connected to Foreign Trade / Exchange Business may also be deputed. Considering the orientation level of such workshops, it is necessary for AD I banks to take care in nominating officials. The participants will be issued a Certificate of Participation. PARTICIPATION FEE: Rs. 12,000/- + applicable GST on the date of payment. B) Short Duration Workshops on Focused Areas on Foreign Trade and Foreign Exchange Business 2 Days The workshop is for all the member banks. GUIDELINES FOR CONDUCTING WORKSHOP OBJECTIVE To develop skills of member banks officials handing Foreign Trade and Foreign Exchange Business on various focused areas of this business with regulatory compliance, with the help of caselets. While nominating officials for this workshop, the officers working in Forex only be deputed to ensure that the target group is homogenous and to make workshop more meaningful and operationally useful. Once the workshops dates are finalized, FEDAI will issue circular, design a suitable time table which will be sent alongwith the circular. DURATION: The duration of the workshops (Non-residential) should be 2 days. There will be 12 sessions in 2 days and each session will be for 1 hr 15 minutes. Participants should be asked to report on Day 1 at 8.45 am sharp. On second day, the valediction and distribution of certificates should be completed in 30 minutes after 6 sessions get over. The member bank conducting the workshop should make arrangements for lunch, tea/coffee as per time table approved by FEDAI STUDY MATERIAL AND WORKSHOP KIT: Caselets / Handouts, if any and Jute Bag, writing pad, Pen and Certificates of Participation FACULTY: FEDAI officials / Faculty members identified by FEDAI The subjects for which such workshops may be conducted: 1) L/C, UCP 600 and ISBP 745 alongwith Incoterms and ISP 1998 and URC 522 2) Financing export of Merchandise / services / Software in non-physical forms and projects alongwith relevant FEMA, 1999 provisions 3) Inspection of Foreign Trade / Exchange Business of B Category branches 4) Forex Remittance, Accounts and Investment facilities available to residents and non-residents Indians 5) Guarantees under FEMA, 1999 and URDG 758 6) SWIFT Mechanism and Forex operations, preventions and practical exercise for filling in MT formats 7) Capital Account Transactions under FEMA, 1999 Borrowing / Lending and In/Out bound Investments 5

6 8) Dynamics of Exchange Rates, Booking forward contracts and FCINR options alongwith FEDAI rules and FEMA, 1999 guidelines with caselets. 9) Encashment of Foreign Currency Traveler cheques and currency notes - procedures and preventions under FEMA, 1999 and operational aspects of International Debit / Credit Cards and Pre-paid Cards 10) Introduction to Foreign Trade Policy from a bankers perspective and operational issues connected to Foreign Trade / Exchange transactions. Participation: For special workshop, the ideal number of nominations would be in the range of It may be noted that this being a special workshop, the group of participants should be homogeneous and the participant should be qualified to attend the special workshop on focused area of foreign exchange. Participation Fee: Rs. 8,000/- + applicable GST on the date of payment C ) Bank Specific workshop on Awareness of Foreign Trade and Foreign Exchange Business - 1 Day GUIDELINES FOR CONDUCTING WORKSHOP OBJECTIVE: This workshop aims at creating Awareness on Foreign Trade and conduct of Foreign Exchange business for officers of specific AD I bank and the main inputs are Overview of this business, transactions and operations under FEMA, 1999, Preventive Vigilance / FX-Code of Conduct and other relevant aspects of Foreign Trade and Foreign Exchange Business. DURATION: The duration of the workshops (Non-residential) would be 1 day only preferably on working Saturdays. There will be 6 sessions and each session will be for 1 hr 15 minutes. Participants should be asked to report at 8.45 am sharp. The valediction and distribution of certificates should be completed in 30 minutes after 6 sessions get over. The Bank proposing such workshop has to make arrangements of its own for Lunch / Tea-coffee and arrange for writing pads and pens. Participants will be entitled for Certificates of Participation Participation Fee: Rs. 4,000/- + applicable GST on the date of payment Faculty: FEDAI official only Participation: Bank Specific workshop for the officials of the bank proposing workshop GUIDELINES FOR CONTACT PERSON OF AD I BANK The member bank proposing to conduct such workshops should identify an official as a contact person for FEDAI and his name, designation, address, telephone number be informed to FEDAI well in time. For this workshop, FEDAI will not issue any circular for member banks. The bank will be advised as regards the conduct of the workshop. Member bank may contact Shri P M Pethe, Forex Consultant & Trainer, OSD Training, FEDAI as per details mentioned below: 1) pmpforex@yahoo.com, trg@fedai.org.in, cell: ) The workshop will be conducted only in Training Premises having the requisite training infrastructure in general and a big size white writing board and the marker pens in particular. Please inform the details of venue where the workshop is to be conducted. 3) The name and contact numbers of the person in your Bank who will coordinate the conduct of workshop. 4) There will not be any reading material distributed by FEDAI and participants have to jot down OPERATIONAL aspects of foreign trade / exchange business that will be conveyed during the workshop. Please therefore provide the participants a big size notebook and writing pen. (There will not be any power point presentation) 5) Please advise the name, address and telephone number of the contact person in centre identified by you for smooth conduct of the workshop. Chief Executive 6