............We thank reader M. G. Warrier from Mumbai (mgwarrier@gmail.com) for his extremely perceptive observations in response to our last week’s article. He points out that the term ‘middle-class’ refers to “the majority of people sandwiched between the rich and the poor and facing extinction in the near future by migrating downwards to the BPL (below poverty line) category as and when the poverty line is drawn realistically.’’ That then is a vivid description of the deep insecurity the middle-class faces. There are several aspects to this — last week we raised a few issues and in this column we will try to discuss a few more. Examples are drawn from banks, but the observations are valid for the whole of financial sector..............
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