Inspiring victory

This refers to the news report “The golden girl who raced against the odds” (May 23). Deepthi Jeevanji who won a gold medal and set a world record timing in the women’s T20 400m final has achieved this distinction despite severe odds.

Gurus played a key role in her success story. Her PT teacher, national coach and later Badminton guru Gopichand provided timely encouragement, guidance and support to keep her progressing. Deepthi’s achievement was deservedly front-paged.

YG Chouksey

Pune

FPOs’ corporate journey

With reference to “FPOs should evolve as large corporate entities” (May 23), FPOs were supposed to help farmers in gaining market knowledge and enhance their supply-chain capabilities. But lack of professionalism has impacted their functioning.

The National Academy of Agricultural Research Management (NAARM) should step in to help FPOs to strengthen their networks and market accessibility.

Sitaram Popuri

Bengaluru

FPOs are yet to realise their true potential. The absence of professionalism is responsible for the failure of many FPOs.

More needs to be done to improve their functioning at the grassroots level. The absence of active involvement of farmers is also a factor.

More joint ventures with private players are sure to transform few of our FPOs in the short term and make them ready to tap the capital markets.

Fresh thinking on FPOs by our administrators will be in the best interests of our farmers.

T Raj Pravin

Pechiparai (Tamil Nadu)

RBI gift to govt

That the RBI has, in its wisdom, approved a transfer of a record ₹2.11-lakh crore surplus to the government for FY 24 must raise eyebrows.

More so when banks are in desperate need of liquidity to meet elevated credit demand from markets.

Out of a total of ₹1-lakh crore of bonds offered as buy back from banks, the RBI accepted bids worth only ₹12,583 crore, because banks offered to sell back bonds at higher prices than the RBI was comfortable with. Given the trending benign inflation, there are many tools to regulate the bond sector.

But the RBI has opted to don robes of a fiscal benefactor.

Providing revenue for the fiscal authorities is not a central bank’s objective.

R Narayanan

Navi Mumbai

SBI clarifies

With response to the story ‘US giant Stripe in talks with SBI for ‘big stake’ in payments arm’ that appeared on May 21, the State Bank of India categorically denies any engagement with Stripe India Pvt. Ltd., a subsidiary of Stripe, USA, concerning collaboration with SBI Payment Services Pvt. Ltd.