National-level seminar on global meltdown held at ABS

8220;The Indian banking system is very strong and the Reserve Bank of India is one of the best central banks in the world. Global meltdown is a cyclical phenomenon but Indians should not lose faith in the economy,8221; said Pawan Kumar Bansal, Minister of state for Finance and Parliamentary Affairs, at a national-level seminar 8212; 8220;Global Meltdown and India: Causes and Effects8221; 8212; organised by the Aryans Business SchoolABS at the PHD Chamber on Saturday.

Bansal added: 8220;We should not become bullish when the market is bullish and we should not become bearish when market is bearish.8221;

Prof B S Ghuman, Dean, Faculty of Arts, PU, said the banks have to strike a balance between the monetary and fiscal policy which would help in equity considerations.

Prof B B Tandon, senior advisor, IBS, Chandigarh, related the cause of financial crisis to the transformation of the USA.

The seminar was presided over by Anshu Kataria, chairman, Aryans Group of Institutes AGOI while Rajiv Goyal, MD, Surya Pharmaceuticals Ltd, was the guest of honour.