Tough times for Adanis
This refers to ‘Adani maps comeback strategy after $132 billion Hindenburg rout’ (February 20). Ever since the Hindenburg report levelled stunning accusations against the Adani conglomerate charging it with stock manipulation and fraud, Adani stocks have taken a hammering at the bourses and the group’s losses have been in the range of hundreds of billions of dollars.
Realising the import of the implications on the company’s future plans, the Adani group is all set to chalk out a comeback strategy which should enable it to shake off the negative impact of the report and to forge ahead.
However the million dollar question is: Will investors, including institutions and the lay public, choose to repose faith in the strategies likely to be adopted by Adani as they have been badly scarred by the developments. The answer to this poser lies embedded in the womb of time.
Apropos ‘India Inc prefers multiple banking to consortium arrangement’ (February 20), it is good that banks could drastically bring down bad assets.
Consortium lending is more meritorious than multiple lending. It avoids the mis-utilisation of funds by the borrowers. However, banks have to reform the methodology of credit creation and its delivery, to remove the bottlenecks coming in the way of a smooth flow of credit to the borrowers. Multiple banking arrangements are easy to avail but the chances of diversion of loans are more when compared to consortium lending.
Large borrowers prefer multiple banking to avoid lags and utilise the funds according to their preferences which will lead to financial indiscipline. Even though the borrower prefers multiple banking, banks must stick to consortium lending.
Apropos, ‘Karnataka to incentivise millet production’ (February 20). It’s appreciable that millets have received attention in the last many years for reasons related to nutrition, environment, economy and other factors. In large parts of the country, food means foodgrains like wheat and rice as people are used to them and they are available in the public distribution system. However, millets have many advantages with higher nutritional values than other grains in terms of vitamins, minerals and fibre content.
They are suitable for cultivation even in arid and semi-arid regions and need less than half the quantity of water that wheat and rice need. Millets will be more suitable in an environment in which climate change will seriously impact agriculture. So, millets should be given a better deal.
N Sadhasiva Reddy
This refers to ‘Are AI chatbots developing feelings?’ (February 20). It seems that what was science fiction was some years ago, will soon become a reality. It is hard to tell whether this is good news or bad. Many a writer of science fiction and sci-fi movies have explored the possibility of machines taking over humans.
It would be a moral dilemma to shut the machines off if they developed human qualities and feelings. Religions too would find it difficult to grasp the idea of an intelligent being without a soul. However the real danger is not that machines will think like humans but that humans will begin to think like machines.