People of Indian Origin Chamber of Commerce and Industry (PIOCCI) and RBL Bank Limited organized a Webinar on “The India Economy: A Discussion with RBL Bank” on Saturday, February 20, 2021.
As a guests and speakers Ms. Rajni Thakur Chief Economist, RBL Bank, Mr. Hasan Sabuwala, Senior Vice President - FX & derivative Sales, RBL Bank and Mr. Nikhil Gupta, Head - Insignia Preferred Banking & Non Resident Business, RBL Bank along with Indian Diaspora from Nigeria, Canada, Malaysia, Mauritius, United States of America, United Kingdom, Hong Kong, Germany, and many more participated from India and across the world in the Webinar.
The purpose of the webinar was to discuss the Economy, Investment and Banking Challenges and Opportunities for the Indian Diasporas.
Mr. Nikhil Gupta started the webinar by introducing the journey of RBL bank and its transformation. RBL Bank’s presence in 28 Indian states and UT’s with more than 403 branches. RBL Bank offers a wide range of products and services to Indian Diaspora which makes them very easier/comfortable to avail banking services. Some of the products and services like Insignia Prefered Banking, NRE Fixed Deposit, NRO Fixed Deposit and FCNR Deposit etc. give attractive rates of interest on Fixed Deposits. RBL Bank also offers a PIS account for Indian Diaspora who are interested in investing in the Equity Market or for buying Mutual Funds in India. Attractive features are also available on NRE and NRO saving account Interest Rates.
Ms. Rajni Thakur, Chief Economist, RBL Bank, carried forward the presentation on further discussion on Indian Economy. Ms. Rajni expressed her views on fundamental changes that occurred during the Pre and Post COVID situation in India. She presented some interesting facts and figures in the form of charts and graphs of different types of products and services industries in India during pre and post COVID situations. She also explained how the unemployment rate varies during COVID situations. About the substantial pick up in Government expenditure which hit Rs. 3.74 trillion in Dec 2020, Ms. Rajni said that it was the highest monthly expenditure since April 1997. Sectors like Automotive and auto component, Healthcare, Housing and Infrastructure in India were scheduled to register quick gain. She also spoke about the drastic changes which were in the offing in Fixed Income, Commodities, Equities and Currencies, and many more.
Mr. Hasan Sabuwala proceeded with his presentation and discussed the FOREX scenario and also products available in the RBL offering. He spoke in short about the Rules & Regulations, Policies and Practices on FOREX in India as implemented by the Reserve Bank of India. He discussed about trading in FOREX and also hedging which could benefit the Diaspora, especially those who are investing in India or whose wards were deputed to India for their studies or professional stings. He also said that such hedging could also benefit the wards of Indian parents who were going out in the world for studies, research and professional stints.
The Webinar was supported by INVEST INDIA National Investment Promotion & Facilitation Agency. UNI TV & PIO TV were the Media Partners. The Webinar was sponsored by RBL Bank Limited.