Aadhar link cause for unease
As of now, payments can be effected through electronic fund transfers and includes point-of-sale transfers, ATM transactions, direct deposits or withdrawal of funds, telephonic transfers, via the internet and card payment. We need to log into our bank accounts to initiate an NEFT or RTGS transfer. With a valid bank account, electronic transfers leave a permanent audit trail that inhibits money-laundering. NEFT is RBI’s own electronic money transfer system. Our money is transferred to the recipient’s account in hourly schedules to settle the payables and receivables from each bank that result from all the NEFT transactions in the hour. In case, our transfer fails, our money is back in our account. If we make larger transfers, say Rs 2 lakh and above, then we would need to use RBI’s Real Time Gross Settlement or RTGS system to make the transfer. In this case, the gross amount is moved from our account to the recipient account directly. In case the transaction fails, again our money is reversed to us. But even if Aadhaar numbers are proof of identity, which they are not, their use to make money transfers make these transfers unauditable, propagate money-laundering and financial fraud. Is there any justification for introducing an unverified and unaudited number to allow payments and settlements?
Subrahmanian S H
Sinha must rest until cleared
Ranjit Sinha is no ordinary person. He is the chief of the country’s premier investigating agency. His personal and official conduct, therefore, need to be aboveboard. By now, it is an open secret that he had been meeting those persons at home whose activities were under investigation by his organisation. By doing so, Sinha was sending a wrong message to the teams investigating the cases. He, therefore, cannot plead innocence or defend his meeting them so very frequently. A police officer of his standing should know that his actions will be misunderstood. Secondly, it is alleged that taking advantage of his position, he was liberally misusing police manpower for his domestic work. This accusation has been raised by certain police officers in the know of the facts of the placements. The government should have asked Ranjit Sinha to rest till he was cleared of the charge of meeting those under investigation by the CBI investigators. Also, the presence of more than sanctioned police personnel at his residence must be verified. Why is the government waiting for the Supreme Court to pronounce a decision? Why can’t the government act suo moto, the allegations being rather serious?
R J Khurana
We cannot feel the influence
Bloomberg is said to have credited Raghuram Rajan with stabilising the Rupee and putting up a more-credible fight against inflation. The stark fact is that neither has the Rupee stabilised nor is inflation down. Prices have been spiralling upwards and we are all feeling the pain. Rajan’s efforts by increasing the repo rates from 7.25 basis points to eight have not yielded the desired result. Furthermore, the Rupee, which was earlier at Rs 45 and later, Rs 55 to the US dollar, has depreciated like never before and has remained above Rs 60 so far, so it cannot be deemed to have stabilised at all. It is not even a year since Arundhati Bhattacharya has taken over as CEO of the SBI and what wonders have been introduced into the ‘overall efficiency’ of the SBI is not clear. The SBI offers only a 0.25 per cent extra cushion to senior citizens’ FDs, while all other scheduled banks are offering 0.50 per cent as extra cushion. It is not known why the SBI alone is very calculative and unfairly stringent when it comes to senior citizens, who live on the interest accruing from their retirement benefits.
T M Uday Shankar
Vice versa, Diggy
With reference to the report, ‘Digvijay bats for Naya Josh Purana Hosh’ (September 12), one feels that as is his wont, this time too, he has said it like it is. What he must have meant was probably, ‘Naya Hosh and Purana Josh.’ This, simply for the reason that during the last ten years, the UPA and the Congress, in particular, has completely lost its hosh (senses) and therefore, ended up where it did. How then can they pursue the purana hosh? No wonder if one feels that if naya josh crops up in the Congress, the first to follow the Advani Joshi path will be the likes of Digvijay Singh.
Your editorial, ‘Very good at diplomacy too’ (September 11) made for good reading. However, it is surprising why you wrote,”…ending incursions into what we consider is our territory’, instead of ‘into our territory.’
No separatists to the rescue
I have been watching TV news channels for the last few days on the floods in Kashmir. One fact which has amazed me most is not the plight of people or security forces helping people, but the absence of anti-India protestors, those who are pelting stones and those demanding Independence for Kashmir and slamming our security forces! Where are those jihadists now? Where are Geelani, Yasin Malik and many others who want Kashmir to be separated from India ? And, what about Pakistan, which is the self-proclaimed messiah of Kashmir? Ultimately, it is the government of India and the Indian army and air force which are rendering selfless and yeoman service to the Kashmiris.
S Krishna Kumar
Pakistan forgets Kashmir
The Indian army, navy and air forces have to be congratulated for their concerted efforts in the rescue operations in the flood hit valley of Jammu and Kashmir. The Indian government has also asked the Pakistan government if it requires any assistance. Pakistan, on the other hand, has turned a Nelson’s eye, not only towards the residents of Kashmir which it otherwise lays a claim to, and says belongs to it, but also to those living in Pakistan-occupied Kashmir.
SC ruling on ‘lal battis’ stands
This refers to the regrettable comments on the Supreme Court by some politicians on their being quizzed over their craze for ‘Lal Battis’. The Supreme Court should ensure that the Mayor of Mumbai respects the apex court’s observations in regard to the very restricted use of ‘lal battis’ on cars, which does not include the mayor of a city. It has become a trend in many states that vehicles with party flags of the state’s ruling party unauthorisedly use sirens to violate traffic-rules. Many such cars are also seen without any number-plates. This nuisance should and can be checked by imposing a total ban on party-flags on vehicles, except during the election period, only after the issue of poll notification.