CICU organized a Webinar on Trade Finance and Hedging Tools Boon or Bane in Current Scenario.

News Punjab

Ludhiana ,  August 26 – S. Upkar Singh Ahuja, President, CICU explained that Hedge Tool is a featured snippet from the web Hedging refers to strategies for minimizing the impact of fluctuations in the exchange rate. There are five common tools for hedging foreign exchange risk, forwards are contracts that define the amount, date, and rate of a future currency exchange between two parties.

Mr. Maulik R. Shah, Co-Founder and CEO of Almus Risk Consulting LLP, through a presentation explained the members about various schemes of RBI and Govt. of India especially to support the MSMEs. He said that MSMEs are in stressed from past 3 to 4 years and in 5 or 6 months, COVID Pandemic completely break the Industry. Recently, industry is facing losses due to fluctuation in dollar rate fallen at 80 paisa in one day. Hedging is very important to secure business these days.

He also shared about the hedging tools, Trade Finance and risk management strategies, to the members.

Mr. Danish Zaheer from YES Bank said that this webinar was organized to understand whether financing import/export and hedging tools, which could be beneficial for business in the current scenario.

Sh. Sarvjit Singh, Co-convener of CICU Export Committee presented vote of thanks and said that these types of awareness webinar will defiantly help the members to resolve their issues.