False Alarms over Convertibility

False Alarms over Convertibility IT is easier to peddle fear than reason. This is aptly illustrated by the hue and cry raised from time to time by the leading spokesmen of the private corporate sector against the convertibility option stipulated by the financial institutions in their Joan agreements. Only the other day the FICCI president A K Jain made an impassioned plea for scrapping the convertibility clause but the case he made out rests on arguments which will carry conviction with few outside his own business fraternity.