Unfair diktat

This refers to your edit, ‘Dividend dilemma’ (January 12). It is strange that when the Centre is periodically infusing the ailing PSBs with funds, it has directed the same banks to pay dividends.

When all the shareholders are equal, the Centre should not be allowed to dictate terms to PSUs just because the government is a major shareholder. Any decision by the board should be based on professional and commercial considerations. SEBI must intervene.

S Kalyanasundaram

Email

This is the continuation of a ‘practice’ the government has been following for some time. A particular figure is shown in the Budget as expected receipts from dividends and surplus profit transfer by PSUs and statutory bodies, including RBI, and later these organisations are persuaded to fall in line. The government should allow statutory bodies and PSUs to professionally manage their finances and not routinely pressure them to transfer funds back to the government.

All organisations should be allowed a level playing field in managing their resources, activities and finances factoring in risk perceptions and growth needs.

MG Warrier

Mumbai

The Centre has made the monumental blunder of including certain seriously sick PSUs that have been incurring losses for more than a decade and do not have any visible product and service than collaborative tie-ups with private vendors on back-to-back contracts and payment modalities in the radius of capital expenditure. Such a move is political, misplaced and has paved the way to line the pockets of fraudsters. The Centre has only itself to blame itself for the present quandary.

The feasibility of disinvestment is also directly proportionate to the profitability of PSUs and hence pegging dividends at a certain level will make the investment meaningful.

B Rajasekaran

Bengaluru

Totally irrational

The Supreme Court questioning the age-old tradition of banning women from entering the Sabarimala shrine in Kerala, and saying it cannot be done under the Constitution, is a triumph for women’s rights. The custom is irrational. Besides, women in the menstruating age-group not being allowed into temples is simply gender discrimination.

The devaswom’s contention that the practice be continued in the name of custom does not hold water. In a male-dominated society, it is not wrong to assume that the rules were framed and implemented by men and have lost their relevance in the modern context.

NJ Ravi Chander

Bengaluru

Highly overdue

Ever since the government made it mandatory for PSBs to disburse more educational loans, more parents have been seeking loans. Parents take advantage of the availability of funds, but they never bother about repayment. Most students opt for engineering courses where the renumeration offered by private firms is around ₹15,000. This is insufficient to meet the enhanced EMI with accrued interest, leading to mounting overdues in this portfolio.

Students and parents are under the apprehension that the interest chargeable is simple till the loan is closed. When someone once raised the question of overdues in educational loans, a top executive said they were our brand ambassadors and we should encourage them. This is how PSBs look at these loans. The proposed march of nurses and parents to Reliance ARC on January 27 to stop recovery of educational loans is unfortunate. We need reforms in this portfolio without hurting either parents or bankers.

TSN Rao

Bhimavaram, Andhra Pradesh

Make it work

That the Maharashtra government is toying with the idea of staggering office timings to de-congest commuter traffic in local trains and public transport, and road traffic is a good plan. School timings and cinema timings should also be changed so that there is no clash. Maintaining the working hours and output are what matter.

HP Murali

Bengaluru

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