Encashing need and greed

Robust accounting system: Regarding ‘Calender concerns’by Mohan R Lavi (August 25), while the changing the financial year, the government should consider the estimates of receipts and expenditure of the Centre and States. The system chosen...

The Hindu BusinessLine, August 26, 2016


Encashing need and greed
The RBI governor, Raghuram Rajan, made the following opening statement at his post-policy press conference on August 9, 2016: “If you get an email from me or any future governor promising to transfer a large sum of say ₹50 lakh to you if only you send a small transaction fee of ₹20,000 to a specific bank account, delete the email. The reality is such emails are not from me and the RBI does not give out money directly to ordinary citizens, even though we print plenty of it. While the emails usually contain very convincing reasons why you have been chosen to receive money, ask yourself why I cannot simply deduct ₹20,000 and send you ₹49.8 lakh. If you think for a moment, you should not fall prey to such emails.”
Recall this in the context of a report relating to an FIR filed by the police after a duped kidney ‘donor’ tried to end her life The report says: “The Borivili police on Wednesday registered an FIR in connection with the case of a 23-year-old woman being defrauded by a kidney agent, driving her to attempt suicide. The agent had offered ₹35 lakh to the woman if she agreed to donate her kidney. The catch was that she would first have to pay up ₹80,000 as fees for registration and medical examination.”
The media should give wide publicity to the parting message given by Rajan: if someone is going to give you something free or intends to make a huge payment for whatever reason, one needs to remember that it is ridiculous for the giver to collect in advance a relatively small sum towards expenses such as registration fee, medical examination, handling and forwarding charges.
The person may as well give a gift of smaller value or make the payment after deducting costs. Let’s not encash our need or greed.
MG Warrier


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