Dr. D. Subbarao

Governor

RBI, INDIA

It is surprising me to read that you are trying to curb inflation. Of course recent step "hike in various bank rates" taken by you is correct to some extent but it is more pinching to existing bank customers & common man only. I firmly believe that the Ministry of Food & Civil Supplies should do some thing to fight the menace instead of RBI.

I feel that the government should come-up with some maximum stock limit by business community. Unless the maximum level of inventory is defined by the government, the problem of rising food prices can not be controlled by bank rate hike step.

I request you that the burden of hike in CRR should not be passed on to the existing borrowers otherwise it will be pinching to the existing borrowers only. The whole sale merchant who surprising deal maximum in cash shall remain unaffected with the "bank rate hikes" and the purpose of RBI shall remain defeated with this kind of step.

Regards

Trivendra