Taking Stock of 2015 Preparing for 2016 - Moneylife

Taking Stock of 2015 Preparing for 2016 - Moneylife


Moneylife has been doing
commendable work in creating awareness among savers and investors, not only
about their rights and possible precautions they can take while making
investment decisions, but also in helping out those whose decisions
subsequently turn out wrong because of inadequate pre-investment study or the
institutions in which money was invested cheating the clientele. Moneylife has
also been encouraging investors to share their good and bad experiences with
banks and other financial institutions. I am not aware of any other
organisation engaged in educating savers and confronting institutions including
regulatory bodies when they do not play or play inefficiently their mandated
roles. It is in this context, one should view the observations on transparency
and accountability here. Because of pre-independence legacy, our civil and
criminal statutes including those applicable to financial sector carry
provisions which insulate the rich and the powerful from punishment or at least
help them in getting the final punishment delayed. A section of the media also plays
into the hands of the rich and the powerful by blacking out the names of celebrities
and the rich when they are involved in unethical practices. In such situations,
presence of participants like Moneylife is comforting to the victims.

M G Warrier 


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