Fad of Financial Literacy - Moneylife

Fad of Financial Literacy - Moneylife

My VIEW:

Very pertinent points raised in this article. We have to start worrying about the responsibility of those accept the savings as deposits(called by whatever name) from public. Such deposits could be bank deposits, PF contribution or insurance premium or chit fund deposits. It should be the primary responsibility of those who ‘take’ deposits to account it and appropriate for the purpose for which the deposit is taken. Now that everyone is going to have a bank account, the last rupee payable to the individual should go to that account minimising the possibility of ‘unclaimed deposits’ in any account. Sometime back, Moneylife had published an article by me on the need for a ‘regulator for unclaimed deposits’

M G Warrier

February 20, 2015

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