With reference to “How to swat the NPA bug” (Business Line, April 6), the author has made a good analysis of NPAs, their treatment and ways to curb them.
But I doubt whether it will have any serious impact. Defaulting borrowers have no qualms and, as the Finance Minister put it “we have sick accounts, but healthy promoters”.
What needs to be done is cautious lending, pressure free credit appraisal and the freedom to say No.
There is something strange about the recent developments in the Congress. Both Manmohan Singh and Rahul Gandhi, who are otherwise reluctant to address public forums, came out and gave speeches. They, perhaps, forgot that deeds are more important than mere words.
Both leaders addressed Indian corporates who are impressed with what Gujarat Chief Minister Narendra Modi has done for them in his State, leading to its development. Manmohan Singh and Rahul have probably woken up too late in the day.
Speech without specifics
This refers to “Rahul Gandhi gets thumbs up from India Inc.” (Business Line, April 5). The speech of Rahul Gandh was general and to which the public will have no disagreement.
The need of the day is to analyse the specifics ailing the economy, the problems of the aam aadmi, and solutions the government can provide. The various failures of the present administration, headed by his party, is a matter of concern for the citizens. The alleged failure in upholding honesty and integrity in various fields, resulting in scams, was not touched upon in Rahul Gandhi’s speech. Nor did he refer to initiating steps against corruption.
T. R. Anandan