Parents’ pride, nation’s idol

This refers to the Editorial “Don of a new era” (April 23). Chess is a mind game that tests a player’s skill set of forward planning, creative moves, reading correctly the opponent’s next and future moves, quick thinking, and stress control in the highly competitive tournaments at global level. D Gukesh deserves all the acclaim for winning the FIDE Candidates 24 and becoming the youngest player at 17.

The huge sacrifices made by his parents also need to acknowledged.

People from Bengal and the South usually excel in science, literature and sports like chess , Gukesh has proved this premise again.

YG Chouksey

Pune

Farming reforms

Refers to the ‘Bankers must factor in climate risk in farm loans’ (April 23).

The farm sector is particularly vulnerable to climate change.

Since farm loans fall under priority sector lending banks charge lower interest rates to help farmers.

Banks factoring in climate risks while lending can impact credit flow to farmers.

Rather than providing for the risks associated with climate change, augmenting soil productivity, shift from high-water consuming crops and comprehensive crop insurance is the way forward. The government must look to insulate the default risks that banks may face on account of the changing climate.

VSK Pillai

Changanacherry

Rate gyrations

This refers to ‘How worrisome is the Iran-Israel conflict’ (April 23). The timing of RBI’s rate cuts is significantly influenced by both global and local factors. On the global front, the ongoing conflicts involving Israel and fluctuations in Fed rates directly impact repo rates.

Meanwhile, the failure of the monsoon exacerbates interest rates due to its adverse effects on food inflation. Additionally, there exists a complex interplay between bond yields and inflation rates at both global and local levels.

Despite price deregulation, inconsistency prevails the government’s approach due to the politicization of fuel pricing.

Moreover, while the RBI must prioritise inflation control in its interest rate revisions, it cannot overlook the imperative of fostering economic growth.

Consequently, it must adopt various stances such as accommodative, hawkish, neutral, calibrated tightening, or dovish, depending on the prevailing economic forces, both domestically and globally.

Given the dynamic nature of these circumstances, the RBI faces a formidable challenge in steering the country through such turbulent times.

Srinivasan Velamur

Chennai

West Asian worries

Apropos ‘How worrisome Iran-Israel conflict?’ (April 23), India leveraged the Russia-Ukraine conflict to get Russian oil at dispcounted rates, but Gaza conflict has no impact on oil supply and no inflationary pressure on India.

The headwinds started when Houthis from Yemen attacked commercial ships sailing through Red sea route which disrupted global trade.

Now comes the Iranian attack on Israel which may bring a major impact on oil prices since Iran controls 4 per cent of global supply, sparking infaltion worries in India.

NR Nagarajan

Sivakasi

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