M R Pai Memorial Award Presented to Pradeep Mehta


Report and pics from Rons Bantwal
Daijiworld Media Network – Mumbai (RD)

Mumbai, May 5: Shyamala Gopinath, deputy governor, Reserve Bank of India, presented the 4th M R Pai Memorial Award to Pradeep S Mehta, secretary general of Consumer Unity and Trust Society (CUTS) International, at a function held in metro recently.

On the occasion, she spoke on “Banks relationship with customers – evolving perspectives”. The Award was instituted by Punjab and Maharashtra Co-Operative Bank Limited, in memory of late M R Pai, well-known consumer activist. The award winner is chosen annually by All-India Bank Depositors’ Association.



Dadi B Engineer, president, All-India Bank Depositors’ Association, presided over the programme. C S Chadha, chairman, Punjab and Maharashtra Co-Operative Bank Limited, which incidentally celebrates its silver jubilee this year was also present. 

Anand Piramal, who was a close associate of the late M R Pai, addressed the gathering.

  

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  • JAGDIP H VAISHNAV, MUMBAI

    Tue, Oct 25 2011

    SIR.


    RESERVE BANK OF INDIA
    DEREGULATION OF INTEREST ON SAVINGS BANK DEPOSITS

    SAVINGS BANK DEPOSITORS WERE BEING EXPLOITED BY BANKS SINCE WERE NOT OFF ERRED REASONABLE RATE OF INTEREST.IN COMPARISON TO RISING INFLATION ,RISING REPO/REVERSE REPORATE.

    RESERVE BANK HAD RAISED RATE OF INTEREST ON SAVINGS DEPOSITS FROM 3.50 TO 4.00% AFTER OUR PROLONGED REPRESENTATIONS.

    THIS DEREGULATION OF INTEREST IS " REGULATED & BIASED" ONE SINCE IT RELATES TO ACCOUNTS WITH BALANCE ABOVE Rs I,OO,OOO/ ,HENCE 98%
    OF ACCOUNT HOLDERS SHALL NOT GET ANY RELIEF DUE TO RISING INFLATION
    RISING REPO RATES.

    RBI HAS RAISED REPO RATE FOR 13 TIMES ,IN CONTRAST HOWMANY TIMES RBI HAS RAISED INTERESTET RATE ON SAVINGS DEPOSITS?
    I REPEAT THIS DEREGULATION IS MEANINGLESS ,AGAINST THE INTEREST OF BILLIONS OF DEPOSITORS, MAINLY COMMONMAN AAM ADMI. IT FAVOURS FEW RICH,HIGH NETWOTH CUSTOMERS
    IT IS A CRUEL JOKE OF BILLIONS OF SMALL DEPOSITORS


    DisAgree [1] Agree Reply Report Abuse


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