There is a mushrooming growth of brokers in the share market of India and they are the ones fed fat on sucking the blood of the innocent traders in shares. They release silky ads to attract more and more of such traders projecting false images of theirs with plenty of offers and assurances to lure as bigger as possible a number of customers in their fold. Their greed for money is as big as a mountain bothering the least for the interest of the customers. They boast of offering new demat accounts fully operable within an hour but what follows after they receive the requisite money from the customers is raising flimsy and irrelevant grounds on delaying the proposal on some false pretext or the other as against finalising the same peremptorily. Dozens of the people come to me with the grievance of getting duped by such brokers and I am yet to make out a full fledged case for them to be taken up with the Government. In the meantime my advice to them is to generate necessary awareness in the masses to see that the traders in stocks keep themselves fully cautious and not fall into the brokers trap.
Money is the need for every one no doubt but it is also the cause number one for miseries engulfing big chunks of humans. Poor people are there in plenty in our county still but gone are the days when poverty was at the extreme for dearth of resources. Soaring prices continue to go up sky high. Whom to blame for this is a different matter but living standard of even a commonest possible person only gives an impression that it has really gone up much much bigger compared to what was there a few decades back.You go to a mall and see the huge crowd of buyers, you go to a restaurant there is no space available to sit any where. So is the situation in all cinema halls and worst it is in the case medicos who are earning lakhs of rupees for their service they give to their patients for which they spare only a couple of minutes. I have seen rickshapullers, masons, dhobees, maids no more going to medium lever doctors but the biggies who charge 400-500 rupees per patient and the queues continue on their clinic till mid night. One can see any where that a maid servant goes to the house where she works travelling to and fro by scooty, scooter or motor bike. It is their money besides others that is pumped in the market channels and that is the root of soaring prices. If such a scenario goes on unchecked, the country as a whole gets closure to a Doom’s day.
As per indications received from different quarters including media, the Government is most likely to come out with more stringent a measure to ensure safety and security to the investors. Financial undertakings dealing in different trades may be asked to spare 2% of their profits (say as a levy) to be exclusively used for this purpose. The idea behind such a move is to fix necessary responsibility on different corporate bodies to have a bigger focus on social goals instead of just aiming at profits only. Financial agencies like banks, insurance companies, besides the share markets are the areas to be covered under the scheme. This measure is aimed at providing adequate security to the investors and depositors, who every now and then are the victims of cheating and bungling in the hands of different companies dealing in borrowings and lendings in some name or the other. Certain companies, as reported from time to time, disappeared from the market like they never existed. If the measures so initiated take a tangible shape in days to come, this is certainly a welcome move to provide due relief to those who take the risk of investing/ depositing their hard earned money with corporate bodies and various other companies.