This refers to Subir Gokarn's column "Realigning governance" (Muddy Waters, February 24). Such realignments are important. For instance, the Reserve Bank of India, representing the interest group over which it has jurisdiction, recently gave in-principle approval to set up a payment system for which all one needs is a mobile phone to withdraw money from an ATM, without a bank account. This initiative, in a bid to promote financial inclusion, is commendable. Similarly, the Telecom Regulatory Authority of India had mandated that prepaid customers who fail to remain active for three months and recharge with a minimum value of Rs 200 once every two months, will have their connection permanently disconnected. Such disconnected numbers would be then allotted to the next customers in the waiting list. It is, therefore, imperative that a realignment between the two regulators should take place if a "crisis" is to be avoided. Imagine if a customer is out of the country for more than three months and receives payment via his mobile phone. Who will be the beneficiary of that money then?
Angelo Extross Pune
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