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Letters to the Editor: 18 December, 2019

letters to the editor, afternoon voice,Take steps to reduce price of onions

The price of onions has reached to such a level in majority of the States that it is difficult for the common man to purchase them. In some places it is priced at Rs 180 to Rs 200 a kilogram. Purchasing onions is bringing tears to our eyes much before we cut them. The government must do something to bring down the price. Onions are needed by us daily not only for cooking but also for making kanda poha, salads, kanda bhaji and egg burji. It is also used in raita.

Jubel D’Cruz

 

Politicians fire bullets from the innocent shoulders of students

National Capital New Delhi is burning and so is Assam after the passing of Citizenship (Amendment) Act in parliament. The uproar could spread to other parts of the country and government needs to take tough action before the situation gets out of hand. The protests by students of Jamia Millia Islamia University is politically motivated by religious leaders and this is a dangerous sign. Universities and school campuses are meant for studies and educational institutions should not be used for political or religious purposes.

Students’ union and campus politics too should be banned as well as elections withdrawn. Politicians fire bullets from the innocent shoulders of students who ultimately get wounded and die for no reason. We need tough laws so that maniac protests never ever happen in our country in future.

S.N.Kabra

 

Government should revoke CAA

Violence erupted around Jamia Millia Islamia University as protesters opposing the amended Citizenship Act clashed with the police. At least 51 students were injured as the police resorted to lathi charge and firing of teargas shells. India is undergoing a very difficult condition and its future is being destroyed by violence of policemen. They mistreated with students until the girl students in Jamia campus , despite it, the government did not say anything on their actions yet. It is a sign that violence and hate are being promoted with pre plan and some people are trying to create rift between Hindus and Muslims. So we should be careful and the government should revoke CAA, which is against values of the constitution.

Mohammad

 

Recusal by judges from hearing the cases should be reasoned and well in advance

It refers to hearing on review-petition against death-sentence by a convict of infamous Nirbhaya rape-cum-murder deferred on December 17 because of recusal by Chief Justice of India (CJI) from the three-member bench. It was satisfying that CJI at least gave reason for recusal from hearing of the case. But it would have been even more appropriate if such recusal would have been well in advance immediately on constitution of bench was intimated to the judge (CJI) recusing from hearing of the case enabling to form a new bench without requiring any deferment of hearing on the case. Such a system would in turn save precious court-hours also.

Tradition now set up by CJI for recording reason for recusal from the case should become a permanent rule where presently most judges recuse themselves from hearing of the cases without giving any reason. Moreover recusal should be immediate just at time of the concerned judge knowing of his being included in the bench from which he intends to recuse. It may be recalled that a judge of Delhi High Court once recused herself from hearing a case where she herself issued notice to former President Pranab Mukherjee after admitting a writ filed by some individual urging some contents of the book authored by the former President to be deleted. There have also been incidents when judges of higher courts have written to sitting Chief Justice of India about pressure and influence especially also from politicians.

Madhu Agrawal

 

Depository Participants must waive off conversion charges for online investments

Securities and Exchange Board of India (SEBI) has allowed conversion of physical form of Mutual Fund units into an online mode through dematerilisation process (Demat). Mutual Fund as an instrument offers the investors an option to perform trading activity in a fair and flexible manner through both open ended and close ended schemes. The holders of physical form of mutual fund folios transact with Asset Management Companies (AMC) directly either in lump sum mode or SIP mode through the physical Statement of Account (SOA).

A physical SOA consists of detailed transactions carried out under a folio but the investor has to physically approach the AMC to otherwise make necessary changes in SOA including changes in KYC mandate. The process however takes tedious time as the same involves paper work with depository participant, verification by AMC for conversion from physical mode to demat etc. The investor is also charged a nominal entry load fees for conversion of physical units into demat form. SEBI thus should issue a mandate to all the Depository Participants to waive off conversion charges (i.e. from physical mode to demat mode) and encourage a robust switch to digital based investment of mutual fund transactions.

The availability of mutual funds in demat form/online mode will otherwise immensely benefit an investor as he can switch,redeem or transfer and updation of KYC particulars through a depository participant as nominated by SEBI. SEBI hence should completely do away with physical mode of holding mutual funds of investors and instead offer full/partial waiver to the retail investors for conversion of folios into an online mode through a demat account.

Varun Dambal


(The views expressed by the author in the article are his/her own.)

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