Public sector banks major players in industry

A SEMINAR on the ?Role of Public Sector Banks in Economic Development of the country, Insurance Sector and MCA-21? was organised by Allahabad branch of the Central India Regional Council (CIRC) of the Institute of Chartered Accountants of India (ICAI) at Hotel Milan Palace, Civil Lines, on Monday.

A SEMINAR on the ‘Role of Public Sector Banks in Economic Development of the country, Insurance Sector and MCA-21’ was organised by Allahabad branch of the Central India Regional Council (CIRC) of the Institute of Chartered Accountants of India (ICAI) at Hotel Milan Palace, Civil Lines, on Monday.

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After inaugurating the seminar, chief guest ON Singh, chairman and managing director of Allahabad Bank, said the business scenario was undergoing a paradigm shift and radical change. Chartered accountants played vital role in the promotion of competitive domestic business environment. Professionals were required to be international players in the global arena with the integration of our economy with the rest of the world.

Guest of honour SK Goyal, executive director, Allahabad Bank, said with the globalisation of the economy banking and finance sector was changing. Public sector banks were the major players in the development of any industry.

Central council member of ICAI Anuj Goyal, Chartered Accountant, presented his views on opportunities and role of CA in the insurance sector.

Chartered accountant Rajiv Mehrotra, secretary, Central India Regional Council of ICAI, spoke on the implementation of MCA-21 in Registrar of companies office.

MCA-21 programme has been set up by the Ministry of Company Affairs, Government of India. MCA-21 is envisioned to provide anytime and anywhere services to all the stockholders. A portal has been set up by the Ministry and the user can avail various services like e-filling, viewing public documents, requesting certified copies, registering investor complaints tracking transaction status. E-filing has begun and from 30th April 2006 it is expected to become mandatory.CA, RC Agrawal, Chairman banking and insurance committee Allahabad branch of CIRC of ICAI said that professionals are required to be international players in toady’s world.

CA Amit Ray, Chairman, Company Law Committee, Allahabad Branch of CIRC of ICAI said that Minister for Company Affairs, PC Gupta, was instrumental in ensuring that MCA-21 programme was implemented in the spirit in which it was envisaged. Chairman of the branch CA Ajay Agrawal and secretary CA VK Lamba put their best efforts to make the seminar successful.