The Daily Star on May 28 published a letter titled “Contain Sanchayapatra rate” by Mojammal Hoque. The national savings certificate of the government is undoubtedly good for pensioners, but many wealthy businessmen are also taking advantage of it nowadays. The interest rate that Sanchayapatra offers is higher than that of many banks. As a result, many businessmen are transferring their bank deposits to buy the national savings scheme, exacerbating the already acute credit crunch in the banking sector and hampering private investment.

The government should consider reducing the interest rate of Sanchayapatra to encourage private investment. And since it expects the middle- and lower-middle-income people to invest in Sanchayapatra, it should set a limit so that the rich cannot buy a lot of saving certificates.