KYC compliance

This refers to ‘KYC confusion’ (May 2). KYC compliance is mandatory for a plethora of investment avenues including stock market transactions, mutual funds, bank deposits, real estate investments, bonds, gold purchases and other financial products. Though the linkage between Aadhaar and PAN has been made mandatory, need for an integrated database serves as a promising solution to simplify KYC processes.

Currently, Aadhaar and PAN serve as primary proofs of identity and address. While Aadhaar is managed by UIDAI, the PAN database falls under the purview of the Income Tax Department. But these databases are maintained separately, leading to KYC procedures for individuals/institutions being called for multiple times.

By consolidating KYC data, information could be accessed more efficiently, alleviating administrative burdens and reducing processing times. Moreover, individuals would no longer endure the inconvenience of repeated KYC verifications for each financial activity, enhancing overall customer experience.

Srinivasan Velamur


El Nina and August rains

This refers to ‘Emergence of El Nina may bring bountiful rains in August’ (May 2). A similar situation was experienced in August 2018 when the entire quantum of monsoon rain fell in one month and caused widespread landslides in the Western Ghats region, leading to extensive damage to crops and property. Being a natural and inevitable phenomenon, authorities must prepare well to handle the situation.

Rajiv Magal

Halekere Village, Karnataka

GST collections

This refers to ‘At ₹2.10-lakh cr, GST mop-up in April hits a new record’ (May 2). While avoiding the cascading effect of indirect taxation, the GST has largely helped prevent tax theft and led to an expanded tax base. The digitisation of the entire financial system too has made evasion of tax harder. However, the criticism that half of the GST is paid by the poor ought to lead to a deeper study as to how to lessen their burden. The vast income disparities ought not to be further aggravated by a taxation system which makes no distinction between the wealthy and the poor. It is a challenging task but needs to be addressed nonetheless.

N Sadhasiva Reddy


Boosting agri exports

Apropos ‘Agriculture exports need to be stepped up’ (May 2), the fact that India’s share of global agri-exports is just 2.22 per cent shows the enormous potential that can be exploited. Though India is the second largest agricultural producer in the world, there are a number of hurdles that impede our agriculture exports.

Now an extra dimension of carbon footprint has joined the list of impediments to exports. While the government needs to focus on strengthening infrastructure, there is an urgent need to propagate good agricultural practices among the farming community that will enhance the quality of agri-produce, through agri-extension departments in partnership with research bodies and agriculture universities.

Kosaraju Chandramouli