Maximum Chargeable Interest Rate Should Be Fixed
Central and state governments race for gaining sympathy of farmers by loan-waiver schemes, which in fact is more harmful for them because farmers cannot receive any bank-loan after once availing loan-waiver. This pushes them back in hands of money-lenders who take undue advantage by charging extra-ordinary heavy rate of interest. Apart from this, banks issue credit-card statements boldly depicting Minimum-Amount-Payable but credit-card users are unaware that they have to pay as much as 48-percent annual interest on availing such facility or even more in case of defaults. Moreover unsecured loans are sold by banks and Non-Banking-Financial-Companies NBFCs at times at exorbitant interest-rates crossing even 20-percent per annum. Reserve Bank of India RBI and Union Ministry of Finance should fix some maximum interest-rate of say 18-percent per annum inclusive of any other levies like penalties etc which may be chargeable from anybody by anybody in the country. Charging interest more than maximum fixed should be made non-bailable punishment under Indian Penal Code.
SUBHASH CHANDRA AGRAWAL, New Delhi
Under The Guise Of Benevolent Choice For People
The government had not much of a hand in getting us our first television connection. It was all private enterprise. When it became a lucrative business, they stepped in to tax and control. We were getting plenty of channels we do not want , but also a lot of the ones we do with a wide choice at a reasonable rate! Now TRAI under the guise of consumer choice, has ensured with a compulsory basic package and pay channels for which we have to add GST, that we will not be able to view even half the channels of our choice we were viewing and having wide options of choice too! The government gains at the cost of all users and suppliers by doing nothing but taxing and issuing orders. That is what most of whom I talked to feel. It is over a week and switch means no proper reception till stabilized. If there was transparency and accountability, we would know how and who exactly, ignoring the consumer, benefits or loses and as to why and what extent. No doubt it is a step in the right direction.
John Eric Gomes, Porvorim
Widening And Beautification Of CHOGM Road
The entire stretch of CHOGM road form O’Coqueiro circle in Porvorim to Calangute and Candolim, it is believed, will soon be taken up for road widening and beautification works without demolishing compound walls. In this connection it may be recalled that large stretches of the road in Porvorim were already widened 2-3 years back and left in a battered condition and now being used to park vehicles . Nothing has therefore changed for the better, as traffic congestions are witnessed everyday and there is no relief for pedestrians. The same situation is likely to prevail even after the proposed widening works are taken up and crore of rupees are wasted on beautification, without proper planning .It is therefore suggested to have a full- fledged bitumen hot-mix road with a road divider all through , speed- breakers and pedestrian crossings at suitable intervals, proper lighting, and cross-drainage works to clear the road of flood waters. It is a pity that CHOGM road has been left neglected all these years despite being an important link to the coastal belt and tourist hotels. It has been promised that road widening would not affect houses along the Chogm road. CHOGM is the colloquial name given to the road that connects the main NH17 highway to the North Goa beaches via Sangolda – but the road itself is just about 40 years old.
A F Nazareth, Porvorim