The Gem & Jewellery Export Promotion Council recently conducted a webinar on FX-Retail: A New Forex Trading Platform. With the endeavor to achieve the RBI initiative to bring in the transparency and fair pricing for the Customers, Corporates, Importers, Exporters etc. in the Foreign Exchange market, Clearing Corporation of India Limited (CCIL), through its fully owned subsidiary, ClearCorp Dealing Systems (India) Ltd (CDSIL), had launched FX-Retail Platform on 5th August 2019. The launch of the platform was also announced by the RBI in its Statement on Developmental and Regulatory Policies of June 2019.

The objective of the webinar was to sensitize the G&J industry about the FX-Retail Platform. Eminent personalities Kamal Singhania, Sr Vice President, Seema Ganapathy, Sr. Manager, Saroj Khadilkar, Deputy Manager and Anilkumar Sharma, Senior Executive Officer from Clearing Corporation of India Limited (CCIL) were invited to brief the attendees on FX-Retail Platform, it’s benefits and how business entities can register this online portal. The webinar was attended by 80 participants.

Some of the benefits offered to all Forex Trading entities by FX-Retail which were explained included buying and belling US Dollar at best exchange rates and get substantial savings in foreign exchange cost; direct online dealing along with access to current inter-bank USD/INR rates, thus moving from phone-based trading to electronic trading; providng transparency and fair pricing to customers and buying and selling of US Dollar on one platform with an option to settle with one or multiple banks.