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There are no free lunches
Apropos ‘Watch out for hidden cost in consumer loan’ (Sept 16),
easy credit is indeed a trap. Credit, in the form of credit
cards and bank loans, is now easily available. The trap is laid
by saying the loan is free of cost but there are always interest
implications and additional charges etc. Before one is lured
by freebies, one must read the small print in the terms and
conditions. Remember, nothing is for free.
The future is uncertain — there may be loss of job or sudden
additional financial responsibilities — and if one is required
to pay installments over a long period of time, one may be in
dire straits.
— Mahesh Kapasi, on e-mail
Be cautious
There is a tremendous anger in the US and Americans are in the
mood for some action. The President has been authorised by the
House to use force. But, alongwith the need for the right kind
of action, there is also scope for some unjustifiable actions.
Therefore, I urge President Bush to punish only the guilty and
not just anybody. Find the guilty first. Present credible evidence
to prove his/her crime and then punish! Act with force, but
only as much force as is justifiable — justifiable to not the
angry crowds standing in front of Mr Bush today, but even to
future generations.
It would be a true victory for the world if we put in place
some institution that can prevent such lunatics from repeating
these terrible acts. Therefore, let President Bush’s actions
become the building blocks for such an institution. Anything
less would not make this world a safer place to live in.
— Parshva, on e-mail
Go for it
India must now join the US in destroying terrorists camps across
our borders. If we miss this opportunity, our innocent people
will continue to be killed. All political parties should provide
unstinted support to the Prime Minister in his attempt to crush
terrorism.
— B L Tiwari, on e-mail
Orissa’s hunger
The condition in Orissa, where several citizens are reported
to be on the verge of starvation, is distressing. Simultaneously,
there is surplus foodgrain in the country, which is rotting
due to poor storage facilities in godowns. Those in charge of
the economic affairs of the country should hang their heads
in shame. The immediate solution to this problem lies in ensuring
better distribution of income — taking money from the rich and
providing it to the poor.
Orissa’s starvation deaths should stir the conscience of this
nation and make every Indian introspect as to why one lives
in comfort while the other starves to death. While the government’s
economic schemes will take their own time to give results, those
better off should play a positive role in helping their unfortunate
brethren.
Those who possess more than what they need are the people who
are responsible for poverty in India. If only such people had
willingly shared their income with those who had little, these
deaths would not have taken place. Mahatma Gandhi and Vinoba
Bhave had such solutions in mind, solutions which called for
a change in the mindset of the average Indian. Unfortunately,
the misery stricken citizens of Orissa have been left to fend
for themselves.
— N S Venkataraman, on e-mail
Small savers, unite
The recent reduction in interest rate on small savings schemes
is applicable to old as well as new depositors. Is that not
an injustice? One can understand if this new rate is applicable
only to new depositors with effect from April, 1 2001 but certainly
not to old depositors.
Under just one scheme ie the Public Provident Fund scheme, the
government has raked in Rs 1,45,000 crore in the past. Now,
it has reduced interest rates from 11 per cent to 9.5 per cent.
The government may have saved itself from a huge interest burden
but that is at the cost of small depositors. Tomorrow, a public
sector bank could also arbitrarily reduce interest on its fixed
deposits. Small depositors must unite and create a political
lobby to fight against the government’s selfish moves.
— Satish Murdeshwar, on e-mail |
