Financial inclusion and ATMs

Apropos ‘Banks operators hopeful of RBI's review of penalty for dry ATM's (November 10), thanks to the government’s financial inclusion initiative crores of small savers, farmers etc have opened bank accounts with ATM cards.

The reduction in customers flocking at bank branches is expected to help bankers focus on lending. Though financial inclusion is still a work in progress, poor people/farmers have cultivated the habit of drawing cash from nearby rural centres through ATMs.

One can imagine the plight of these people who go a long way to draw cash and find that ATMs have run out of cash. This is a problem that people living in cities too encounter. This is a problem that needs to be addressed both y the banks and RBI immediately.

They should also increase the number of ‘free’ ATM transactions without levying any charges not only in rural areas but also in cities. Notwithstanding the transport problems in loading cash on ATMs, a minimum penalty must be charged on banks if their ATMs run dry.

Katuru Durga Prasad Rao

Hyderabad

Rationalise govt expenditure

The editorial ‘Fisc on track’ (November 10) has rightly called for a step up of capital expenditure while avoiding wasteful revenue expenses. The Centre’s prudent management of its finances in the first half of 2021-22 has possibly been on account of the extra tax revenues from motor fuels. This was necessary in the face of unprecedented expenses on account of the pandemic — free rations, free vaccinations, etc., and likely higher defence expenditure due the prevailing geopolitical situation. Surely citizens have realised the government’s predicament and have therefore not protested higher fuel prices, the political opposition’s noise notwithstanding.

The edit has also rightly called for greater prudence on the part of State governments. The culture of freebies and giveaways to even those who can afford to pay, at the expense of honest taxpayers, must end.

V Vijaykumar

Pune

India’s climate commitments

Prime Minister Narendra Modi at the Glasgow Summit declared the five point declaration of achieving net-zero emissions by 2070, 500 GW fossil fuels by 2030, reducing carbon emissions by 1b tonnes, cutting carbon intensity by 45 per cent and climate finance.

Except climate finance, all other goal points are actionable items. The budgetary allocation for RE sector though is increasing with ₹5,753 cr allocated for FY 2021-22 but the same is not in tune with the mammoth plan and the target which is being envisaged now.

The Centre needs to review and broaden the scope of attracting more domestic and FDI towards the RE sector.

With a view to accelerating financing and investing in RE related segments, setting up of an exclusive ‘Green Bank’ on the lines of erstwhile Bharatiya Mahila Bank for catering women community, would be ideal.

Centre has to take all States and UTs into confidence in implementation right from migrating all street lights and tagging them to solar power and in boosting usage of EVs and in adopting to the usage of ethanol blended fuel etc to reach the ultimate goal of net-zero emission.

RV Baskaran

Chennai

Don’t be complacent

Apropos ‘Coffee growers turn cautious despite 25% rise in Arabica prices’ (November 10) is a long term advisory to Arabica growers in view of the fact that such price fluctuations have occurred many times in the past.

Importantly, Arabica growers must not become complacent and become unmindful towards input costs, which seldom comes down and becomes an unbearable burden when prices drop drastically.

At the same time the drop in Robusta and black pepper prices, another lifeline for growers, may not be eternal and the growers must find a fair balance between the crops, with the inclusion of more supplementary crops and activities to meet fiscal viability, in view of the uncertainties of weather.

Rajiv Magal

Halekere Village (Karnataka)