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This is with reference to ‘Needlessly vilifying Indian business’ by Sidharth Birla (July 19). The deep-rooted menace of NPAs occurs because greedy corporates have been over-leveraged by more than willing lenders. While the funding of infrastructural and core industries by public sector lenders may have been hurt by policy paralysis, to attribute NPAs solely to that is foolish. Although borrowers take risks investing in greenfield or expansion projects by taking on debts or bringing in equity, the assessment systems prevailing are archaic and unprofessional. There are not enough risk mitigants. In the circumstances, the failure of the projects hits both debt and equity, although it has been seen that lenders take a bigger hit. It is high time we developed the assessment systems of our banks.
Rahul J Gautam
Bengaluru
Right medicine
This is with reference to ‘A good dose of research will benefit doctors’ by Srikanth Krishnamurthy (July 19). The medical profession has become commercial, with unethical doctors engaged in malpractices. The Government should give wholehearted support to hospitals run for the poor and needy by noble doctors and institutions. Ethical doctors and medical professionals should be appointed to the MCI. Lack of government support for research and innovation is also a constraint. Our leaders mostly believe in short-term gains and hence are not able to tap the potential of young doctors and invest in research.
Veena Shenoy
Thane, Maharashtra
The article makes a valid point. There should be no routineness in the treatment or clinical examination of patients. In a developing economy, the population will be exposed to various situations not of a routine nature and such situations call for newer methods of diagnosis and treatment.
TR Anandan
Coimbatore
Electronic payment
RBI’s move to bring in a unified payment system must be appreciated. NPCI has lived up to the pace and demand of large business transactions. Many developed economies do not a robust and efficient payment system as in India. It requires faith on the part of retail vendors to accept mobile payments.
Security has to be strengthened with biometric authentication since financial inclusion up to the grassroots level does not work well with passwords and OTPs. Then, there’s clean network connectivity, the absence of which causes concern even with ATMs and cash recyclers, apart from physical banks. If a movie or airline ticket is booked online, an exorbitant convenience fee is charged. This should be banned. In fact, online bookings should be given a discount as the customer helps the merchant to dispense with paper work and counter rush. Railways and oil PSUs should take the lead by waiving this unethical fee.
S Veeraraghavan
Coimbatore
Vehicle ban not enough
The ban of old diesel vehicles in Delhi is a wake up call on the status of the transport sector. The life-threatening emissions situation is an outcome of various factors, above all, the absence of significant breakthrough innovations in public transport. Banning older vehicles and the odd-even rule may help provide some interim relief. However, authorities in all cities need to address the problem. Wider roads and more flyovers will only aggravate the situation. Walking and cycling must be made possible and safer in our cities.
V Vijaykumar
Pune
Big blunders
Can a motor car or a computer be classified under “Furniture and Fixtures”, and rent, under “Rates and Taxes”? According to the formats of balance sheet and income and expenditure account prescribed under Schedules VIII and IX of The Bombay Public Trust Act, they should! There are more such blunders. It appears that the formats were designed by someone who had no knowledge of the basic principles of accounting, and they have never been modified or revised. The formats need a major overhauling. Will the authorities concerned wake up?
VV Vijayan
Mumbai
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