Savings shift

This refers to the ‘Dynamic shift in savings choices’ (September 28). Despite the availability ofdeposit and insurance products from banks, insurance companies, NBFCs, mutual funds, and post offices, the build-up of financial assets is declining and hurting investments.

The conversion of financial assets into non-financial assets is occurring due to appreciation in certain assets like real estate, precious metals.

The changing attitudes and influence of the lifestyle of the rest of the world, especially that of the developed countries are encouraging the propensity to consume.

The households’ low propensity will hit growth. Government must execute policies to promote household savings and regulate the conversion of financial assets into non-financial assets.

VSK Pillai


Market exuberance

With reference to “Undercover agents” (September 28), the unprecedented surge in the capital market activities, warrants regulated intermediaries, to ensure a healthy investment ecosystem.

The extant SEBI regulations are applicable only to the principal broking agencies and the transactions between brokers and their sub-agents or APs, are guided by individual contractual agreements between them, and in case of any malpractice by the agent, though the primary responsibility lies on the principal broker, the investor is put to hardship.

The suggestion advising the regulator to initiate necessary steps to bind the authorised persons of stock brokers is welcome to ensure investor confidence in stock market transactions.

Sitaram Popuri


Bankers’ agitation

This refers to ‘AIBEA plans agitation against outsourcing……calls for nationwide strike in Jan’ (September 28). The arguments seem a bit surprising. When these unions were demanding a five-day week for all weeks, they argued that due to online/internet banking modes, few customers come to branches.

Now they are arguing that bank staff are overburdened and recruitment must be stepped up. How come the sudden change?

The government must act in the interests of the banks, their customers, and the economy; not the narrow interests of bank employees alone.

V Vijaykumar


Missing pavements

The article ‘The enigma of Indian roads’ (September 28) made for a very good read.

Pavements are a luxury in this part of the world. Pedestrians are indeed taken for a ride. This only suggests that the State governments are ‘Penny wise and pound foolish ‘.

But this is only one side of the story.

One wonders why people do not use the subways, which have been constructed for pedestrians.

Making people responsible here is a challenging task.

S Ramakrishnasayee