Withdraw the notes

The RBI has instructed that all currency notes issued prior to 2005 be withdrawn, a move apparently aimed at curbing black money and fake notes. Surprisingly, though, banks themselves supply these through ATMs and even across the counter. Banks must stop doing this.

Usha Madodi

Mangalore

Right moves

With reference to “RIP repo rate?”(April 2), there are a few bright spots in the economy in terms of inflation easing (though there are still some concerns about its sustenance), strengthening of the rupee, accretion to forex reserves and so on. The market sentiments have been improving. The status quo by RBI in the first bi-monthly monetary policy announcement is on expected lines and a step in the right direction. The governor likes surprising the market; this time the surprise was that he did not surprise them.

Srinivasan Umashankar

Nagpur

Whom to vote for?

One must vote but if none of the candidates is worth voting for, then what do we do? Many of those seeking our votes have criminal records; almost all parties have such undesirable candidates.Many people vote just to exercise their voting right regardless of the fact that they do not like any of the candidates. It is important we vote for the right candidate — one who does not have a criminal background or at least has not been charge-sheeted. If there is no such candidate why vote at all?

M Kumar

New Delhi

Customer rights

The RBI telling banks to do away with levying charges for not maintaining minimum balance is a progressive step in customer rights. But it has not laid down any uniform guidelines for savings accounts. The interest rate on SB was freed to facilitate competition and individual banks started levying rates differently. New generation private sector banks charge exorbitant rates without informing customers. The RBI should lay some ground rules and make it uniform.

The RBI should also consider the plea of banks to pay interest on CRR, since banks are losing interest on their precious resources. If this is considered, banks may offer more services free of cost.

S Veeraraghavan

Madurai

Useless information

Owing to the burgeoning increase in customer base, almost all corporates need to maintain a hefty database (“Big data, enormous potential” by Vivekanand Venugopal, April 2). But only a tiny part of the data is used. Hence big data management is referred to as “garbage in and garbage out” as most of the data is junk.

M Vignesh

Madurai

Way to go, RBI

With reference to “A touch here, a tweak there” by A Seshan (April 2), the RBI has been maintaining its autonomous status despite the political tricks of the government of the day. Finance ministers have been trying desperately to ensure rate cuts to make available large-scale liquidity for the market. This spells doom for the economy and financial institutions. The conservative approach of the RBI has saved the nation from economic collapse. Western central banks went overboard in relaxing lending norms. But our RBI's stringent lending rules and monitoring policies saved the nation.

A Prabaharan

Tiruchirappalli

Hardly good governance!

It is more than three years since the Gujarat State Third Finance Commission was constituted but it is yet to submit its report. Despite completing its tenure the GSTFC has sought and got a third extension up to December 31, 2014 merely to retain its privileges. So much for all the talk of good governance in Gujarat. The delay and extension is not merely costing the public exchequer but is highly unfair to panchayats and local bodies whose cause GSTFC was supposed to espouse. The GSTFC should submit its report forthwith if it stands for the cause of financial empowerment of local bodies in Gujarat.

HS Shylendra

Anand, Gujarat

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