Letters

Letters to the Editor dated November 4, 2020

| Updated on November 04, 2020 Published on November 04, 2020

Bank service charges

‘No increase in bank service charges, says FinMin’ (November 4), should set at rest the confusion created by the news that appeared in the media on the subject. Already, banks have set a limit of five deposit and three withdrawal transactions, beyond which charges are levied in the case of basic savings bank accounts, other than the Jan Dhan accounts. Meanwhile, the public sector Bank of Baroda had announced a further reduction in the number of free transactions, effective November 1.

While discouraging footfalls in bank branches, by promoting digital banking is desirable, it should not result in customers, especially the senior citizens and those at rural centres, being penalised, more so in these Covid times. The latter are still not conversant or comfortable with electronic banking and prefer to visit branches for their limited transactions, followed by the updation of their passbooks. Fleecing savings account holders is akin to ‘biting the hand that provides low-cost funds’ to the banks. The latter should instead focus on other avenues of income, to shore up their bottomlines.

V Jayaraman

Chennai

Onion prices

Apropos ‘Peeling the onion price crisis’ (November 4), the authors have vividly pointed out that hoarding is the most proximate cause for the skyrocketing of onion prices. The middlemen play the timely trick of hoarding during the period of short supply and control the quantum coming into the market to reap high prices.

When the monsoon vagaries restrict the supply, the middlemen exploit the situation further. Rather than go for imports or ban exports, the government should curb the role of these unscrupulous middlemen.

NR Nagarajan

Sivakasi

Payments to health workers

This refers to ‘Don’t deny medical staff their pay’ (November 4). Every citizen of this country owes gratitude to the dedicated services extended by the medical fraternity to the hapless victims of the pandemic, unmindful of the risks to their own lives. While there is a need to support them by providing additional incentives and monetary benefits, a number of States have failed to even pay their salaries and stipends on time.

Sitaram Popuri

Bengaluru

Reviving the economy

Apropos the editorial ‘Green shoots’ (November 4), while some of the core sectors of the economy are exuberant, the most affected by the pandemic are real estate, tourism and hospitality. Since the struggling sectors are interconnected, the crisis faced by one affects the others too.

The revenue and capital payments of the governments are crucial to ensure easy flow of cash to generate consumption, savings and private investments. Utilising the liquidity available in the banking system is subject to the price of capital and credit absorption capacity of the borrowers.

A further cut in the monetary policy rates and their instant transmission to the end-beneficiaries, especially MSMEs, housing and personal loan consumers, would help spur demand. Besides, raising the standard of living of the rural poor and imbibing confidence amongst consumers and investors are critical to ensure stable growth.

VSK Pillai

Changanacherry, Kerala

The smog challenge

To curb the air pollution, the Delhi Government has issued a directive permitting only green crackers and also setting time-slots for bursting them on designated festival occasions.

This is a classic example of whataboutery, as administrative procrastination has allowed the air quality in the NCR to deteriorate to dangerous levels.

The smog, everyone knows, is not because of people igniting non-green crackers but due to stubble burning. Regulating construction activities, closing down power plants, impounding of old vehicles, anti-smog guns, creative apps, mechanised sweeping, N95/N99-masks, intermittent water-sprinkling and artificial rainfall via cloud-seeding can also help. The odd-even vehicle-plying measure should continue.

Girish Lalwani

New Delhi

LETTERS TO THE EDITOR Send your letters by email to bleditor@thehindu.co.in or by post to ‘Letters to the Editor’, The Hindu Business Line, Kasturi Buildings, 859-860, Anna Salai, Chennai 600002.

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Published on November 04, 2020
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