Financial Daily from THE HINDU group of publications
Friday, Aug 23, 2002
Financial Daily from THE HINDU group of publications Friday, Aug 23, 2002 |
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Opinion
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Letters American capitalism
This refers to `Crisis in American capitalism: Lesson for India' (Business Line, August 22). India could take measures to prevent scams and frauds, but does not need to ape the American style or standards. We have to devise policies that suit our conditions and demands. The small savings of the household sector are important for the country and needs to be encouraged further. It is the means for societal and industrial development. As suggested in the article, instead of prodding banks to become involved in the capital market, they should be allowed to grow along the lines they prefer. Savings through provident funds, life insurance, postal savings schemes, etc, could be encouraged by providing further incentives. In fact, availing of many loan schemes sometimes acts as savings. The merger of small banks to make them large, strong, and vibrant organisations to meet the country's investment needs could also be considered. A. Jacob Sahayam.
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