It is heartening to note that India now has more than a lakh ATMs that process 20 crore transactions every month. More security features need to be built into an ATM to protect innocent citizens. Full marks should be given to public sector banks for having installed nearly 61,500 ATMs. The ATM is really ‘Aam aadmi Teller Machine’ and plays a major role in financial inclusion. It can be a future engine of growth if products are built centred around ATMs.
S.A. Srinivasa Sarma
Doing an Obama?
This refers to “UPA may end up doing an Obama” (Business Line, November 15). That US President Obama’s victory may enthuse the UPA is correct to the extent that that may reduce the force of the blame for mismanaging the Indian economy. But it may be difficult for the UPA to put up an Obama-like show in the 2014 general elections because of the differences in the democratic structure of the two countries.
Our polity is a multi-party system. The large number of parties make the system unwieldy and it is difficult to fight over principles or personalities. Obama could garner votes on the basis of trust reposed in him. The UPA still does not have a similar crowd-puller. But the election result in the US is unique in that major anti-incumbency factors such as a huge fiscal deficit did not work. This might seem to be a relief for governments in similar countries, such as India.
Indian markets have not cheered the Government’s steps to set the economy on the growth track.
C.P. Velayudhan Nair