Letters to the editor dated September 18, 2020

We can definitely take solace from the fact that our mortality rate is one of the lowest and considering our massive population it is a great positive (‘Post-Covid, don’t drop your guard’, September 18). The number of discharged patients after getting treated is also a big plus. But having said that we will have to understand two things clearly: first, Covid has exposed our public healthcare infrastructure thoroughly, and, second, life should not be lived in pre-Covid lifestyle any more; some drastic changes should be part of our routine now.

Coming to the government’s action items as mentioned by the writer, that long-term complications in cured patients must be researched so that healthcare professionals can find out ways to address them. More importantly, when we know that there are instances of relapse so anyhow there is no reason to drop out guards. And targeting non-communicable diseases (NCDs) with healthier lifestyles should be non-negotiable.

Noida

‘Check on co-op banks’ (September 18) hammered the fact that bringing co-op banks under the RBI surveillance umbrella will bear little fruits since several bank failures happened due to the severe lapses in RBI governance, chronically infected by political intervention.

Merging poor, failed private banks with viable banks, infusing further capital on sick PSBs laden with NPAs are the panacea given by the RBI and not strict governance to bring up a healthy banking system.

Hence, entrusting co-op banks’ control will be an additional burden on the RBI, which already fumbles to balance the existing load, the governance of which is weak and vulnerable.

Sivakasi

The primary aim of cooperative banking is to extend flexible banking services within limited jurisdictions in rural and urban areas. Despite the mushrooming of private sector banks, small banks, micro-finance institutions, NBFCs, payment banks besides the deep routed PSBs etc., co-op banks or societies played a significant role in offering better interest rates on deposits and ease of sanction of loans to the needy with their simple procedures.

However, abuse of power by vested interests dented the public confidence in co-operative banks. As the writer aptly points out, the effectiveness of the enhanced powers given vide the recent amendments to the BR Act to streamline things would face a litmus test in the context of too much pressure on the regulator in balancing between government’s economic policies and the slippage of control over banking.

Bengaluru

The inefficacy of the surveillance of the RBI has paved the way for fraud in the banking sector, causing enormous loss to stakeholders. Despite the various oversight measures such as preventive vigilance, inspection and audit by internal and external auditors, fraudsters, by taking advantage of the greedy staff and the loopholes in procedures and systems, are going on committing humongous frauds on the banks.

The main activities of the banks centre around the mobilisation of deposits and the deployment of the funds for the optimum benefit of the resource giver and to the overall benefit of the economy. Therefore, financial intermediation needs to be carried out without giving any chance to the beneficiaries to take any undue benefits and it is essential to prevent the fraudulent activities by the people who are connected and or associated with the financial intermediaries.

Changanacherry, Kerala

This refers to ‘Does work from home work for all’ (September 18). In India, work from home is a relatively new concept which became popular due to the Covid lockdowns. If properly followed and encouraged the work from home concept can save lots of costs for the companies/organisations and also reduce congestion in already congested city roads, public transport, etc.

Thane

Send your letters by email to mailto:bleditor@thehindu.co.in or by post to ‘Letters to the Editor’, The Hindu Business Line, Kasturi Buildings, 859-860, Anna Salai, Chennai 600002.

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