Wednesday, June 10, 1998
No EEFC, if you're allowed an account abroad
RBI discontinued blanket permits to exporters of goods and services and allowed them and other recipients of inward remittances in any convertible currency to retain 25 per cent out of the remittances in an account designated as `Exchange Earner's Foreign Currency Account' (EEFC) with banks in India. Such accounts can be maintained in any form -- current, savings, recurring or term deposits. EEFC can be opened by individual residents only.
Good teachers key to national pride
While the country is in an euphoric state patting itself on the back for detonating a bomb, it may be pertinent to consider that national pride cannot come from a people that is 47% illiterate. National prosperity is linked to education and good teachers hold the key. Much more than bombs and missiles, India needs weapons of learning in the form of motivated, committed teachers.
Naqvi's moral commandment cuts no ice
We've all heard the tale of the king who decreed that nobody would laugh in his kingdom. The net result was that all his subjects wore grim faces and not one of them raised any cheer. The misery spread until the whole kingdom went to seed. In India, we currently have a similar situation: somebody or the other from the information & broadcasting ministry is regularly jumping up from his or her seat and piping that we cannot do this or that on television.
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