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Tuesday, 19 January, 2016, 11 : 00 AM [IST]

TAAI to launch Joint Bank Guarantee scheme for members effective July 1, 2016

Process of enrolling agencies into the scheme to commence next month
The Travel Agents Association of India (TAAI) is set to launch the Joint Bank Guarantee scheme on July 1, 2016 for its members, informed Sunil Kumar R, President, TAAI. He was speaking to the media after the Managing Committee (MC) meeting of TAAI at the Bombay Convention & Exhibition Centre in Mumbai on Saturday. At the meet, the MC approved the launch of the scheme for member agents and circulars regarding the same will be sent out soon to the 4 Regions and 16 Chapters of the association in the coming days.

Kumar added that a power point presentation is created for the MC members and Chairpersons to debrief the members and share highlights to clarify several points that members will have on the scheme. He added that in the past, it has been proved at TAAI, that those who joined the scheme, immensely benefitted. Readers may recall that pursuant to the discontinuance of the Joint Bank Guarantee Scheme about 2 years ago, TAAI had made presentations to the APJC.

During the end of 2015, the PA Conference approved the Joint Bank Guarantee Scheme, with India now holding the distinction of being the only country to offer travel agents this Joint Bank Guarantee Scheme as an alternate mode of financial security to the International Air Transport Association (IATA).

Additionally, at the MC meet in Mumbai, Kumar shared that the office-bearers and MC deliberated on the convention destination. “We have shortlisted about 6 attractive destinations as the Convention venue,” Kumar said. He confirmed that the TAAI convention will be held prior to September 2016, before the closure of the first year of the term and added that preferably it will be held immediately after the summer rush ends for the agencies.

Also, at the meet, TAAI discussed the airline-agent website parity issue, having formally requested Jet Airways to abstain from direct promotion on their websites eliminating the travel agency from distribution channel. “Jet Airways is trying to find a way out and TAAI has given suggestions to end this practice. We will certainly want agents to be involved in airline promotions,” Kumar elaborated.
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