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Monday, April 23, 2001
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Special schemes needed

Sir, - C.R.L. Narasimhan's article (April 20) comes with hope of good news for senior citizens. There are many who have lost thousands of rupees by investing in NBFCs. The Government has only added to their misery by announcing declining rates of interest for bank deposits.

After the collapse of NBFCs, the only avenues for safe investment left for senior citizens are the UTI and postal regular income schemes. It is therefore necessary that apart from the RBI's policy of special interest rates, the Government immediately announces similar schemes for senior citizens in the UTI, postal and other schemes.

Srinivasa Rangaswami,

Chennai

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