Monday, 18 January 2016

Not feasible

The decision of the RBI to allow moneylenders to operate under regulation may not yield the desired results. Regulating in rural area is not practical and feasible. Private Banks are charging hefty rates from customers under personal loans, credit card buys, etc and RBI is unable to control them even in the metropolis.

(This letter published in the Economic Times on 8th August 2006.)