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‘The importance of an Independent RBI’ by MY Khan (September 11) raises valid concerns.If the RBI can take credit for better financial and economic standing, compared to other countries, then it can be said the same was achieved in spite of and not because of the government, particularly during the last decade or so.
In the eyes of world economic leaders, when the RBI was functioning independently, it was doing a great job to sustain economic and financial stability. Of late, for some political mileage, it appears that the role of RBI in general and that of the governor, in particular, have been deliberately undermined. This must be checked.
RS Raghavan
Bengaluru
There are certain organisations that should be allowed to function independently in a democratic country like India. Of these, the top four are the RBI, the CBI, the police and the judiciary. The RBI since its inception has been functioning independently; that is why it has been credited with monetisation of the entire economy. Today’s strong financial system stands on the shoulders of the RBI and this pyramidal edifice has come up only due to the independence it has been enjoying over the years.
During the worst financial crisis in 1991 where other countries thought India’s economy had collapsed, the freedom given by Prime Minister Narasimha Rao to the RBI governor helped it come out with flying colours.
There is a reverse relationship between inflation and independence of the monetary authority — the higher the independence of the central bank the lower the inflation. The government should stop poking its nose into these organisations and see that our economy competes with that of developed countries.
TSN Rao
Bhimavaram, Andhra Pradesh
Nadella model for India
The success story in transforming Microsoft (‘Nadella is just what Microsoft needs’ by Rajkamal Rao, September 11) is an archetype for India also.
Companies should select their top personnel on sheer merit irrespective of race or pedigree, and employ well-thought out measures in judging ability. Two, the chosen person should be given full rein to plan and execute strategy, the intervention being circumscribed by the goals set.
Three, the traditional practice of limiting top jobs to mere marketing or production specialists should be extended to include one’s expertise in integrating new technology with these functions. Fourth, out-of-the box thinking has no limits. Thus, every product or service need not be priced even in the face of loss of revenue. The impact of free sale on customer satisfaction and future business performance should be thought of.
YG Chouksey
Pune
Sexploitation
The rape of two Nepali women by a sadomasochistic Saudi diplomat and his ‘guests’ in Gurgaon is a classic case of ‘sexploitation’ of vulnerable women from the neighbouring country looking for job opportunities in India without fully sensing the possible danger. What has come to light is the tip of the iceberg.
Though there is no way to find out the exact number of Nepali women trafficked to India and forced to work as ‘sex slaves’, we can hazard a guess that it might run into lakhs if inmates in unlicensed brothels too can be so categorised. The plight of these women is worse than that of self-possessed commercial sex workers who hire their bodies on their own terms.
They cannot be bracketed with women who are under compulsion to meet demands for sexual favours for advancement either. Kept in confined spaces in isolated apartments or flats, they are unable to escape and inevitably come to terms with satisfying the carnal desires of libidinous men.
Poverty mitigation, stringent enforcement of regulations for employment of overseas women as domestic help and awareness raising are required. India must do all that is possible to spare itself the dubious honour of being a hub for sexual slavery.
G David Milton
Maruthancode, Tamil Nadu
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