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Letter to the Editor April 6, 2023

RBI maintains status quo

This refers to ‘RBI keeps repo rate unchanged at 6.5 percent’ (April 6). To be sure, the RBI’s maintenance of the status quo on repo rates must have defied the hopes of various stakeholders, aside from surprising some financial experts, who had predicted a 25-point increase. basic (bps).

Notably, all of this comes amid the RBI Governor’s statement that core inflation remains high along with retail inflation trending above allowable levels, after six consecutive rate hikes. total to 250 basis points as of May 2022.

The RBI’s latest stance may offer some consolation to the banking sector’s creditors, who are reeling under the adverse effects of the rate hike.

Multilateral institutions such as the World Bank and the Asian Development Bank have predicted that inflation will fall to around 5% this financial year. But considering the unpredictable situation domestically and globally, this seems unlikely.

Kumar Gupti

Panchkula, Haryana

Inflation is still rising

The Monetary Policy Committee’s decision to leave the repo rate unchanged cannot be faulted. However, the harsh reality is that so far, despite the monetary tightening, inflation has continued to be high, negatively impacting the country’s economic growth. Although the MPC’s main task is to control inflation, care must be taken to ensure that monetary tightening measures do not depress economic growth.

M Jeyaram

Sholavandan, TN

bank scam

This has to do with ‘Apex Court googly for bank fraud’ (April 6). It is very difficult to discuss and get the consent of the customer before classifying as a scam. There may be instances where deception has started in the first place such as overvaluing securities, submitting false documents, providing inaccurate financial statements, etc., these may not be received. until the bank account appears overdue. Discussion with such a client will not help much as irregularities will get out of control and time is of the essence for any action.

Discussions can only be useful in cases where fraud is taking place, which can be more operational in nature. Banks have their own mechanisms to identify fraud and internal audits and vigilance will highlight weaknesses. Customers do not need to present the case, which only falsifies the proceedings, slows down the processing, and goes against the interests of the bank.

Mr. Raghuraman


Disruption in Parliament

It is indeed a matter of concern that one and all sessions of Congress are ending without proper discussions on various pertinent issues. The ruling period should have understood the gravity of the Opposition’s demand to investigate the Adani case. The claim reflects the burning feelings of millions of people.

AG Rajmohan

Anantapur, AP

Covid cases

Covid once again raised its ugly head. In the current situation, vaccine production and administration should be an ongoing process as the population continues to grow. The complacency in launching skyscrapers at people has been making the Covid situation even more alarming. The government should proactively vaccinate everyone until Covid goes down in history.

KV Seetharamaiah


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