Apropos to editorial 'Protection card' May 9), it goes without saying that the RBI’s recent Master Directions, would come to the immediate rescue of the credit card users. It was quite worrisome to learn that complaints against credit card issuers figure prominently in RBI’s annual Banking Ombudsman reports with the numbers trebling from 12,647 in FY18 to 40,271 in FY21.

But unsolicited issuance of these card issues, being billed for undelivered cards, wrong reporting of defaults to credit bureaus, levy of excessive charges and interest and strong-arm tactics used by recovery agents remain the major areas of concern for credit card users.

While the RBI seems to have hit the nail on the head, card users also need to be more vigilant and acquaint themselves with a plethora of terms and conditions. However, giving proper attention to the RBI's 'RBI Kahta hai' campaign, may come handy and useful too.

SK Gupta

New Delhi

Surprise move from RBI

This refers to the article ‘MPC overturns standard assumptions’ (May 9). The relationship between the government and RBI was fractious during the formative period of MPC. Deft handling of this issue, perhaps, consumed more of the time and resources of the then RBI Governor to the detriment of the core functions of RBI, including currency management.

Now North Block and Mint Road are on the same page with both cosulting with each other on major policy issues. Whether one calls it surprise or deviation from standard practices, the RBI in the present case was only keeping the promise of remaining vigilant and acting quickly in times of need.

As regards the suggestion that market may be in for surprises, for the market, long influenced by external factors, adjusting to internal policy moves cannot be difficult.

MG Warrier

Mumbai

Pragmatic move

It refers to ‘Railways on right track on train manufacture’. Despite earlier failed efforts Railways is heading in the right direction. Getting these modern trains manufactured through private contractors is a pragmatic move and hopefully many private players will bid for the ₹26,000- crore tender.

Since Railways’ public units work on assured orders, it is about time to bring both private and public enterprise synergies together in this critical sector.

These trains should be good to run on 160-200 km/h speed, so that more such Delhi-Agra tracks would be upgraded to suit the requirements. With an efficient Railways Minister at the helm, things would only turn out for better in 2-3 years time.

Bal Govind

Noida

Perils of imported inflation

Many countries across the globe have now begun to witness an exponential rise in food inflation in the backdrop of massive disruptions in global food supply chain following Russia's war on Ukraine war and the resultant soaring of crude oil prices.

The greater diversion of corn, sugar, palm and soyabean oil for bio- fuel has given rise to a genuine apprehensions about global inflation getting more generalised As far as India is concerned, the transmission of global inflation to domestic food prices hinges on how much of its consumption/production is imported/exported. Being the largest importer of edible oils whose prices have now been skyrocketing, India could see a further rise in its inflation.

Adding to our woes is the increasing prospect of a considerable dip in wheat production and the likely rise in the prices of wheat. While the food inflation is not yet generalised in India, it could hardly insulate itself from global developments. Stepping up the domestic production will go a long way in mitigating the effects of imported inflation.

M Jeyaram

Sholavandan (TN)

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