Dear Fellow Members,
I am deeply moved and honoured by the new responsibility bestowed upon me to serve you all as President of this great institution namely ANMI. It is very much important to acknowledge the excellent work done by predecessor Mr.S.K.Rustagi. During his tenure he did his best to raise the image of ANMI in many ways. He was instrumental in making more visibility by engaging “Patashala” programme thereby injecting in the minds of millions of people more clarity about the capital market. I am expressing my great gratitude to all past presidents who made this institution move from strength to strength. I ensure to give my best to the welfare of our members and ANMI.
I am equally happy to have Mr. Rajesh Baheti as Alternate President. New board has been constituted having many well learned persons and new talents also. You all appreciate the fact that Team Work alone makes dream to come true. Without team work it is impossible to complete the tasks before all of us. Team work not only ensures a better environment but also leads to higher levels of achievements. I ensure a better level of interactions among us and also members for deciding good things for our progress.
We are entering into a historical moment of getting GST as our new way tax legislation for the country as a whole. Government has already pinned hope of improving GDP by 1-1.5% on introducing GST. As a responsible citizen of this great country it is imperative on our part to ensure smooth implementation and better compliance with the new law. For our community new law has brought in the effect of increasing the cost of trading which will further shrink the profit margin to investors. Any new system will have its initial issues and only by time things will settle down.
Our agenda for the year 2017-18 are many but main focus should on improving ease of doing business for our members. A simple way of getting clients on board must be achieved by accepting his bank account details only since he/she would have done his KYC with the bank. Another important area of our focus should be removing STT in all forms of trade if not at least in day trading by suggesting tax neutrality to the government. Third, by improving the image of ANMI by carrying out suitable branding exercises across the country through media etc.
I request each regional Chairman to act as bridge between Members and ANMI by exchanging ideas, suggestions and also carrying out various activities for the benefit of our members.
It is time for all of us to think loudly how to make available various software and technologies at a reasonable price to every member. We should consider a centralised system for our all requirements which in turn make us further strong in our operations.
Recently I along with ANMI SEBI Committee members had an opportunity of meeting SEBI Chief Mr. Ajay Tyagi. We expressed congratulations on behalf of ANMI to him on assuming the position of SEBI Chief. We discussed various issues in particular how to ensure smooth implementation of enhanced supervision. By our professional submissions SEBI has agreed to consider monthly uploading of data instead of weekly which in my opinion is a small relief for all of us. During the meeting we have also pointed out that complaints against members have come down drastically by presenting necessary statistics in support of the same.
ANMI has good presence in international forums like ASF, IFIE etc. It is a good time for us to improve further our presence in these forums.
Let us walk together, work together and ensure all good things happen.
With warm regards and good wishes
Fill the brain with high thoughts, highest ideals place them day and night before you and out of that will come great work-Swami Vivekananda