v Banking, Accounting & Allied Services v
There are about 3155 (31.12.94) branches of scheduled commercial
banks in Rajasthan. State Bank of Bikaner and Jaipur (SBBJ) is the lead bank of the state.
The major Indian and foreign banks provide merchant banking and other specialised services
to industrial units in Rajasthan, through their branch offices in Delhi and Bombay. The
apex institution for term financing, the industrial Development Bank of India (IDBI) and
the Industrial Finance Corporation of India have branch offices in Jaipur.
All
the major towns in the State have a strong presence of practising chartered accountants.
Jaipur has around 600 practising chartered accountants. In addition, all the major
international accounting firms service their clients in Rajasthan through their
representative/ correspondent firms located in Delhi and Bombay.
All matters between the State administration and an
individual industrial enterprise would normally fall within the jurisdiction of the State
High Court at Jodhpur ( which has a branch at Jaipur). Legal advice/ support in such
matters is available from members of the local Bar Council. In contracts between
individuals/ corporations, it is possible to sepcify the court of jurisdiction in case of
disputes. Specialised advice on contractual matters including patent/ trade rights may be
obtained from solicitors located at Delhi, Bombay and other metros.
Larger agencies proceeding management consultancy,
advertising and market research services are located at the four metros. However, smaller
agencies providing these services are available at Jaipur and other larger towns in the
State.
Jaipur Stock Exchange, established in 1989, is already the
third largest in the country in terms of membership. At the end of the January '96, 750
companies were listed on this exchange. The volume of daily turnover averages about Rs. 80
million at present.
