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The editorial ‘‘Capital, with strings attached’’ ( Business Line , October 12) has correctly highlighted the erroneous move of the Government in asking public sector banks to lend to the consumer durable and two-wheeler segment at discounted rates. This is nothing short of micro-managing the credit function of banks.
Lending functions are best left to the individual banks as they have a competent board to decide on the modalities.
When the Government links the infusion of capital with the lending norms, will it permit write-off of the NPAs at a later date on account of such directed lending?
The RBI must step in now and advise the Government/banks suitably.
S. Kalyanasundaram
Truly a phenomenon
Providence has bestowed few people with some special talents. “Sach a duo” ( Business Line , October 12) is with particular reference to cricketers Sachin Tendulkar and Rahul Dravid.
Not only have they excelled in the field, they have also innovatively redefined the game of cricket, thereby being a role model for others to emulate. If Rahul Dravid was authoritative in his own way, Sachin, on the other hand, was rightly flamboyant and adventurous.
They are among the few who have the rare ability to make difficult things look pretty easy, while at the crease. It is a feast to watch them play and youngsters have great lessons to learn from them.
It is very easy to reach the top, but difficult to maintain it. What is amazing about both of them is the way they have managed to stay fit right from the time they made their debut a little over two decades.
Knowledge and skill are two vital things that can automatically make one command respect and applause. Their absence will be felt by the world cricket in general, and Indian cricket, in particular.
S. Umashankar
Nagpur
Lured by returns
In an interview to Business Line , Rajan Venkatesh, MD, Scotia Mocatta, the bullion division of Bank of Nova Scotia, has made the right observation that gold buyers look at returns, not prices (October 12). Potential buyers do not stop buying gold just because the import duty is hiked.
They buy the yellow metal to sell it when it fetches high returns. Crash in gold prices definitely induces more people to buy it, hoping the decline is only a temporary phenomenon. This has been proved.
K. V. Seetharamaiah
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