Indian economy crippled by inflation

Tue, 29 Apr 2008 04:54:11 EST

Indian economy crippled by inflation - by srini48_vasan

Never in the Indian history that the inflation has touched the all time high of 7.33% and the prices of essential commodities have soared in a racket speed.The govt of india is making all out efforts to contain them.The finance minister goes on assuring that it would be checked and announced duty cuts on certain commodities imported from other countries and export of certain pulses have been banned.While the finance minister makes such announcement on one side on another side other ministers who have to do nothing with the inflation etc started blaming the previous regimes and attribute it to the wrong policies of those govt. The prime minister of India appears to feel shy to accept the responsibilites and ask the other political parties not to politicalise this issue.When this is the case on one side the govt, had a tough time waitng for the judgement of the Supreme court in reservation issue and the human resources and development minister spent sleepless nights as it has become a matter of prestige to him The Indian govt has determined to enforce the reservation at any cost with an eye on the forthcoming elections to parliament.

Higher rate of interest charged from credit card holders by the banks issuing cards

Sun, 27 Apr 2008 08:44:42 EST

Higher rate of interest charged from credit card holders by the banks issuing cards - by srini48_vasan

Using of credit cards by general public is on increase.It is a safe mode of shopping as they need not carry cash with them while going for shopping.The card holders also can draw money from the ATMs and hence the card holders when neccessity arises draw cash from ATMs as they feel shy to approach their dear and near ones for monetary assistance.But they do not realise that banks charges an exhorbitant rate of interest from them.The banks levy transaction charges and in addition interest right from the date of withdrawing money from the card holders.The interest rates ranges from 2.95% to 3.15% P.M. which ultimately drive the card holders soemtimes abscand as they are unable to bear such burden.The banks deputes uncivilized persons for collection works and the banks threaten them of serious consequence.Neither the Reserve Bank nor the govt seem to take note of this.

Fingad.com

Indian economy crippled by inflation

Higher rate of interest charged from credit card holders by the banks issuing cards