Unjust fee on deposit closures

The monthly income scheme in post offices was introduced mainly to help senior citizens. In earlier times, the scheme offered interest rates higher than nationalised banks.

The monthly income scheme in post offices was introduced mainly to help senior citizens. In earlier times, the scheme offered interest rates higher than nationalised banks. Now that public sector banks provide a better interest rate, some people want to close their postal deposits before maturity. However, the finance minister has imposed an additional penalty on premature payments. This is unjust. They should be allowed to close their postal deposits without any deduction if they transfer them to nationalised banks.

?Hansraj Bhat, Mumbai

Truce hope

Let us hope the ceasefire in Gaza between Israel and Hamas will last. It?s time for Middle Eastern countries to be led by developmental goals, rather than constantly embroiled in strife.

?Rajendra K Aneja, Dubai

This article was first uploaded on June twenty-three, twenty eight, at six minutes past ten in the night.