Confidence booster

In view of the present monetary crisis, depositors lack confidence in the banking system. They are concerned regarding the safety of their hard-earned money. Money is withdrawn from banks on the basis of rumors. Some depositors are withdrawing their money from banks and keeping it in their homes or converting it to kind, such as gold, electronics, etc.

In order to restore confidence, I suggest an insurance scheme be launched for all depositors. The premium of the insurance can be adjusted against the interest payment. In cases of liquidation of banks, depositors would be paid back the full amount.

This scheme will certainly bring back money into circulation which can be utilized for development purposes and help overcome the present crisis.

R.K. CHOPRA

Jakarta