This is with reference to the report ‘Corporate advances of banks

surge in Q2 despite rate hikes’ (November 10).

Banks have priority sector lending commitments and the interest charged to these segments is usually lower.

The banks further also have to maintain a statutory liquid ratio as prescribed by the RBI.

So maintain profitability and handle expenses banks have to charge higher interest rates to other segments which includes corporates.

But at the same time, the banks also have to be vigilant given that most of their bulky NPA’s are from corporate borrowers and not from small borrowers.

Katuru Durga Prasad Rao

Hyderabad

Longer tenures for CJIs

With reference to the report ‘Justice DY Chandrachud sworn in as the 50th CJI’ (November 10), having sworn in just two days prior to his 63rd Birthday, he will get a full two years tenure as CJI as compared to the 74-day tenure of his predecessor.

Due to various reasons, tenures for top positions in India including those of CJI have become short.

But the short term nature of the tenure affects application of mind with a long-term vision which is a prerequisite for such jobs. One option could be to make the positions tenure-based rather than going by the age of the incumbent.

MG Warrier

Mumbai

Russian oil imports

This refers to ‘Led by oil, Russia becomes 5th largest exporter to India’, (November 10). In the backdrop of the Ukraine war, India and Russia have recorded significant growth in bilateral trade, underlining the strength and endurance of their time-tested ties. Since the start of Russian invasion of Ukraine, the trade between India and Russia swelled to $17 billion, largely because of the purchase of discounted crude.

However, for India, the harder part will be ensuring the long-term sustainability of trade with Russia, especially in light of the growing imbalance. Also, the impact of the proposed G7 cap on Russian oil prices and restrictions on insurance for energy shipping remains to be seen. India’s increased purchases of Russian oil may have implications on ties with Saudi Arabia, another key strategic ally.

N Sadhasiva Reddy

Bengaluru

China and the world

This refers to ‘China sends global shivers’ (November 10). The China story is one of misplacement of its priorities leading to its decline from being an economic power house. Its zero Coved policy seems to have significantly contributed to its decline pulling down the morale of the people. Housing bubble was a ‘ticking time bomb’ waiting to explode.

The US-China trade war along with Coved pandemic and now Russia-Ukraine war are expected to have wider geo-political implications and with US and Europe staring at recession, the adverse developments in China has added fuel to fire.

Hence it is time for China to reset its priorities and move away from its expansionist approach and shift its focus to alleviating its internal maladies.

Srinivasan Velamur

Chennai

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