Good service: The editorial “Work in progress” (August 5) shows that passing of the GST Bill in the Rajya Sabha is a triumph of the collective will to put nation above party interests. The Bill has many advantages over the earlier...

The Hindu business Line, August 6, 2016
Home truths

This refers to the report “RBI sets up panel on household finance” (August 5). The proposal to set up a committee to look at various facets of household finance in India, according to the RBI, came up during the meeting of the Sub-Committee of Financial Stability and Development Council (FSDC-SC) held during April, 2016.
The RBI, particularly its research and statistics departments make ongoing internal studies on several aspects relevant to policy formulation and many of the findings get incorporated in the bank’s regular publications such as RBI bulletins and reports as also ‘occasional papers’. The proposed comprehensive study by experts which will cover various aspects of sources and uses of funds by Indian households will undoubtedly be a valuable document which can change the direction of thinking in favour of much talked about ‘financial inclusion’.
Perhaps, the study could be made a joint effort of GoI and the RBI and by expanding the terms of reference given to the panel, the committee could be made an empowered body to go deeper into patterns of savings and investment by individuals and institutions.
MG Warrier


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