Instead of depositing money in private banks, which has no security, many men and women deposit their income in various public sector banks.
But the income tax department has ordered collection of tax for such kind of deposit which earn interest above Rs.10,000 a year. It is really a hardship for the depositors who earn Rs.1,000 as interest a month.
Now the individual income limit is Rs.2.50 lakh.
So the department should increase the interest of the deposit also.
It should be raised to Rs.30,000.
It will be much helpful to senior citizens. Most people live on the income of the interest. In some banks, interest is being collected without the knowledge of the depositors. It should be avoided.
The depositors should be informed about the tax for the interest to be collected before one month of the maturity date.
Open bank branch
Tuticorin, Kanyakumari and Tirunelveli districts do not have Citibank branches in their periphery till date. Several graduates from these places are working in cities such as Bangalore and Hyderabad and they have accounts with the bank.
Though there are now free inter-bank ATM facilities available as per the RBI order, the Citibank customers are facing many issues in reality.
In particular, Citibank credit card holders are finding it very difficult to make their dues to the bank since there are no payment locations in the districts.
Further, the online payment system is not only insecure but also involves a tedious process.
Also, it is to be noted that the industrial and IT-related activities in the southern districts are on the rise than ever before.
In fact all these need bank facilities.
In the process, these bank facilities will go a long way in catering to the needs of the people, businessmen, working class and industries in the southern districts.
Therefore, I request the authorities of the bank to look into the matter immediately and take urgent steps to open their branches and ATMs in Tuticorin, Tirunelveli and Kanyakumari.
P. Senthil Saravana Durai,
Ensure industrial growth
This refers to the write-up in the Reporter's Diary column on the poor growth of south Tamil Nadu vide The Hindu , dated 2.4.2012.
It was painful to read that south Tamil Nadu below Madurai has not attained its deserved growth.
Despite the availability of adequate man power, water resources and the spread of so many educational institutions on various disciplines, including a number of engineering colleges, if the southern districts do not see any industrial growth, then it needs an introspection.
As stated in the report, the reason attributed for the sorry state of affairs is known to all that the southern districts are often portrayed as “violence-prone” area in Tami cinema.
Besides, this part of the State is witnessing frequent communal clashes and related troubles. This is also one of the major reasons for the backwardness of the area. What the outsiders comment on this area is that there are so many cinema houses, textile and jewellery shops; but no industries worth mentioning of.
This trend is not conducive for the growth of these districts. The other day, The Hindu reported (April 3) that miscreants burnt the panel boards of four windmills. Wind energy is nature's gift to the three southern districts and they have been erected at a huge cost running to several crore of rupees. If the installations are damaged causing huge loss of money, will anyone come forward to start new industries here? Anti-social elements who demand ‘mamool' from the traders and industrialists should be put behind the bars.
It is high time that the leaders of all political parties, civic-chiefs and administrators should sit together and chalk out a plan of action for the industrial growth of the southern districts. The entrepreneurs should be assured a trouble-free atmosphere to run their establishments so that more number of new ventures will be started here.