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Financial Mega-Exhibition -"FINVEST'10"
Dear Sirs,

At the outset we thank you for patronizing the FINVEST ’10 exhibition organized between February 20, 2010 to February 23, 2010 at Maratha Mandir, Near Railway Over Bridge, Belgaum.

It was very unfortunate that all of us in Belgaum lost three/four precious days in the last week due to the BUNDH call given by some organizations as well as due to FESTIVAL and WEEKLY Holidays, because of which all the activities in the City came to a literal standstill.

As a result many of the FINSERVE Organizations viz. Banks, Insurance Companies, Mutual Fund Companies, Share Brokering Agencies, etc. who are interested in participating in FINVEST ’10, the exclusive exhibition meant only for the Financial Services Companies, could not follow up with their Higher Authorities to get the formal approval for participation in FINVEST ’10, in time.

During our interaction with some such FINSERVE Organizations in the last few days we understood that many such Organizations are very much interested in participating in FINVEST ’10 but are awaiting the approval from their higher authorities.

The FINVEST ’10 exhibition as you are aware is to commence within two days from now and we have already spent on the promotional activities such as News Paper Advertisements, Display of Hoardings and Banners at prime locations in the city, Printing of Informative Leaflets, etc.

For want of sufficient time it is practically difficult for the FINSERVE Organizations to prepare and participate in the exhibition even if they receive the approval now. At the same time it is very difficult for us to organise the event in the scale in which it is planned unless we have sufficient time and full support of the participants.

Considering all these facts and the availability of venue, your work pressure of year end closure, statutory audit, etc. we have decided to postpone the dates of FINVEST ’10 exhibition and the new dates shall be from May 8, 2010 to May 11, 2010.

We are confident of your fullest support to the decision we have taken in mutual interest. However, we express our sincere apologies for the inconvenience caused to many of those who have already booked the Stall, Banner Space, Hoarding, etc.

The bookings already received by us till date will be held valid for the postponed event and others who have yet not booked the stalls may do so on or before April 25, 2010. However, we request you to book the stall immediately to avoid last minute rush.

With very kind regards,

Yours truly,

for The Belgaum Chamber of Commerce & Industries,

Jaideep Siddannavar

Chairman, Exhibition Committee.

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WHY FINVEST'10 ?
Banking and Financial services form the core of the economic structure of a Country. With the liberalization of the economy and restrictions easing out, has led to increasing competition, which has in turn resulted in new business opportunities. Within the context of these developments, the Banking and Financial Institutions have become important pillars to strengthen our economy.

The improvement in the quality of life, the rising affluence and better education has resulted in a new generation of customers whose financial requirements are becoming increasingly more sophisticated. This has resulted in a major reorientation of the banking and financial institutions to become customer driven and to become more focussed on customer needs.

While the customer needs to become more informed, financial service providers, the regulators and the authorities have an important role to provide the enabling and conducive environment that nurtures customer empowerment. Indeed, customer empowerment begins with financial awareness and customer education. This in part can be achieved through greater disclosure and Credit Counselling. Thereby enhancing their ability to make informed financial decisions.
 
With this need in mind the THE BELGAUM CHAMBER OF COMMERCE AND INDUSTRIES has organised FINVEST’10 EXHIBITION, First of its
kind in Belgaum.

FINVEST’10 exhibition aims to provide an enabling platform for customer empowerment. FINVEST’10 is a conscious effort to raise financial awareness by bringing together the various entities in the financial system that includes the Commercials Banks, Mutual Funds, Stock Brokering firms, Insurance companies and other financial agencies that provide services. In essence, this one stop centre creates a comprehensive opportunity for customers to improve their financial literacy and for the financial players to serve the customers.
 
We are confident that your organistaion will benefit from participating in this event.
Looking forward to your active involvement in this exciting event.
 
Why Exhibit ?
 
With number of institutional and general investors’ participation, you will be able to :
 
* Exhibit your services, products
* Improve access to potential customers
* Meet face-to-face with potential clients
* Generate sales and increase your market position in and around Belgaum
* Raise your profile above your competitors;
* Increase your company exposure to the public through our intensive marketing campaigns and media partners;
* Enhance your relationships with existing and new customers
* Conduct market research
* Obtain contact names of the customer’s
* Explore new markets or territories
* Gain media exposure
* Checkout the competition
* Enhance the company image or brand
* Conduct sales meetings in conjunction with the exhibit
* Give Credit Counseling
* Provide education to the visitors
 
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From the Desk of the President

The year 2009 has come to an end which carried mixed feelings amongst the business tycoons and other personalities. The economy witnessed a slow but confident return to tracks after more than a year of recessionary  trend.

It is said that the happiness may not spread amongst the Indian even though the prosperity spreads due to the steps taken by the expert economists and the decision makers at the helm, until the governance improves.

The sings of growth are visible from the Annual Gross Domestic Product (GDP) which has improved from 1% in 1950 to about 8.9 % in 2009. The literacy rate is expected to grow from 65% in 2001 to about 80% in 2010. It is reported that 1% of the people are crossing over from Below Poverty Line (BPL) every year for last almost 25 years. The growth in population recorded in 1981was of 2.2% and this growth has dropped to 1 % in 2001. Per Capita Income has increased from Rs. 1,178.00 in Eighties to Rs.3,051.00 in the Fifty year of the current century.

Today India is the   fourth largest economy in the world and expected to overtake Japan by 2014 to gain the status of the third largest economy. The population of the Country has become a strong asset due to which 64% of the GDP is being consumed in India itself. Because of this reason our economy remained absolutely insulated from any recessionary downtrend. Our economy could comfortably withstand the volatility in the international markets occurred due to fall of many multinational world leaders.

It is said that the success story of India is led by the market forces as compared to that of China which is Government induced. As a result of this our businesses try to satisfy the needs of the Kings the Customers. In the bargain the public gets satisfactory quality products and the businessmen benefits from the enhanced business.

India can boast of matured democracy. Our democracy is very dynamic. We have considerably fair and honest elections at appropriate intervals. Our fourth pillar of democracy, the freedom of speech, is very strong which has resulted into a free and strong media including press.
The divestment from the Public Sector undertakings was a major decision due to which monopolistic approach of such units was curbed. May items were decontrolled and the import duties were drastically reduced. So also the direct taxes were brought down. A new a new regime of value Added Tax structure all over the Country was introduced and successfully launched. All this happened in the first decade of the new century.
It is said that by 2010 majority of the Indians will speaks in English and India will have the largest population speaking in English as compared to any other country. Therefore, in whichever way an Indian pronounces an English word or in whichever way the Indian frames a sentence in English that will be taken as the guideline by the others, including those who in invented the language.

Yes!!! We are proud of all this. But can we take similar pride in talking about good governance?

A survey reveals that one out of every four teachers do not attend the schools. Two out of every five doctors abstain from the Village Primary Health Centers. Less we talk about the electricity power problem, it is better. Power is in short supply all through the century. Similarly, is the problem of availability of potable water.

We had enviable judiciary and judiciary system a few decades ago. Today only a very few amongst the judiciary can be beyond any doubt. The bureaucracy that we have is tremendously intelligent but is every body clean? The crime rate was under control during the infancy of our freedom. Police were honest and faithful. Are they today? Before the Eighties our major problem was growth whereas we had proper systems but today we are growing, no doubt, but the systems are either compromised or are demolished.
We, therefore, need to concentrate on good governance. Our growth can be many folds higher if we attack certain issues like Caste system, Education for the large population living in village, Fiscal Deficit and concentrate at the same time on infrastructural development. We are, surely and steadily walking towards this goal. What is required is our participation in helping the Government to bring in best governance. Let us dedicate ourselves for this cause and make India the leaders in the world in every field.

As a first step let us all take a pledge that hereafter we will try and change our own attitude of accepting whatever that comes our way rather than invoking our rights in the right spirits without, in any way, jeopardizing our relationship with any one in the society. We all deserve a better environment commensurate with our standing and therefore it is our duty to help the Government to help us improve the standard of living of each one us.

WISHING ALL THE MEMBERS OF OUR CHAMBER AND THE READERS A VERY HAPPY HEALTHY AND PROSPEROUS 2010

 

Shreenath Deshpande


 
From the Desk of the Editor .....
Dear Friends,

THE YEAR 2009

In the year 2009 like every other year there are many events which have taken place in various fields having remarkable consequences. The most notable amongst them are the financial scams or economic offences. Thus we have harrowing tales of scams which shaking the very foundation of our economy. The sensitive public is numbed to read about the stories of these financial crimes of powerful people in general who have not even an iota of integrity or honesty.

The last decades has witnesses a spat of scandals particularly the financial ones which rocked the nation. There have been scams in the stock exchange, in various ministries at state and central levels, scams in public service commissions, scandals in the field of sports like cricket and worst of these is a stamp scam, the biggest in the history of independent India which is yet to be fully evaluated. Unfortunately there is no field left which can claim to be above board. Already the country has been listed in the most corrupt nations in the world and people of this nation have to suffer the humiliation of getting branded as a nation of dishonest people. It is ironic that the nation which is rich with religious and spiritual heritage is losing that covered status due to the insatiable avarice of powerful people in the public life.

In fact there are controlling mechanism to prevent frauds in the financial institutions, but these have proved to be ineffective in stopping the rot. There is a multiplicity of authorities to control frauds right from Reserve Bank to CBI, SEBI and Dept. of company affairs etc. apart from state vigilance agencies. However the methods employed by these agencies are time consuming and probably there is no coordination between them which helps the scamsters to carry out their cheating business with impunity.

What is the way out of this imbroglio? Should the people sit helplessly or do something to stop this rot? Should the responsible public leave these affairs to the governments courts and news media and remain Complacent ?  “It is said that eternal vigilance is the price of the freedom.” The citizens who think themselves as responsible have to come forward in individuals as well as social capacity to act with all their might. In fact a strong public movement to stem the rot is the need of the hour. In this fight for justice, various Chambers of Commerce can take lead along with the forces which are working to fight the corruption of different kinds, as the businessmen from an important segment of the public.

An all out war against scamsters is the only way to prevent the scandals in this country, and everyone of us expected to do whatever little he can, to avoid future damage to the democratic system in general and economy in particular. Let us hope that 2010 will be better in this respect than 2009.

Satish Tendolkar
Editor/Vice President

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The website was launched on 19th June 2008 by Shri. Vinay Jathar, President of the Chamber for the year 2007-08