Your editorial ‘Bond better’ (Business Line, January 2) captures
well the reasons for the lukewarm response to the inflation indexed
certificates. These are neither attractive nor acceptable to the middle
class and lower middle class, which include retired persons and
pensioners, as they involve cumbersome procedures, offer unattractive
rate of return, do not ensure adequate cash flow and are not
intelligible to many among the investing class. Why the RBI should
undertake this retail issue of certificates though through banks to
small savers is a mystery.
T.V. Gopalakrishnan
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