Atal as PM’s guru

In ‘A leader for the ages — ahead of his times’ (August 17), our prime minister has paid a heart-touching tribute to Atal Bihari Vajpayee on his death. He regards him as his “guru and role model”. Many of Modi’s initiatives (like approach to foreign policy, application of information technology, infrastructure-oriented growth and seeking harmonious relations with neighbouring nations) show that he is an earnest follower of Vajpayee’s policies. However, he has not made enough efforts to redouble the benefits from his actions.

Pune

Atal Bihari Vajpayee, a great parliamentarian, has left behind his indelible footprints. He, one of the main architects of modern India, initiated many economic reforms — a game changer in reshaping India’s economic landscape.

He redefined foreign policy to forge a strong relationships with neighbouring countries. His Wagah-Lahore bus diplomacy was highly appreciated as a gesture of goodwill to our neighbour Pakistan. Many people, despite having ideological differences, admired and respected Atalji. He stamped his identity not only in politics but also in journalism and literature.

Cuddalore, TN

This refers to ‘A true democrat’ (August 17). If there was ever an ideal politician, it would be none other than late Atal Bihari Vajpayee. It’s very rare that words betray us when we describe a politician, but such was his stature in Indian politics.

Statesman, gentleman, great orator, consensus builder, a true democrat, all adjectives are small words for him. After his death, it’s Indian politics which has become poorer. The true barometer of the success of a politician is how he/she is accepted beyond his party-line and that is where he has no parallel.

He was a real jewel of India and during his illustrious six decades in politics he has achieved many milestones. He could be remembered for many things, but on top of the list would be the nuclear test at Pokharan, engagement with our hostile neighbour Pakistan, Golden Quadrilateral, Pradhan Mantri Gram Sadak Yojna, and Kisan credit card. He carried on the spirit of economic reforms introduced by the PV Narsimha Rao government. Parliament was richer whenever he was there. Today’s politicians would do well to watch his old videos and learn how parliament debates should be conducted.

Noida

With reference to the report ‘Expect some PSBs to come out of PCA framework this fiscal, says DFS Secy’ (August 17), the opinion expressed by Rajiv Kumar, Secretary, Department of Financial Services (DFS), that the fundamentals of many public sector banks (PSBs) have improved in recent months could possibly have prompted him to expect some of them to come out of the RBI’s Prompt Corrective Action (PCA) framework this fiscal.

Moreover, he is also stated to have emphatically remarked that the worst is over for public sector banks, and their asset quality has “improved transparently” in recent months.

Interestingly, he also went ahead to point out that the government has successfully closed down around 2.2 lakh shell companies that were being used to hoodwink lenders. Does not such a wonderful state of affairs imply that the future of all our over-stressed PSBs is really very bright?

If that were really so, how come that, as on date, as many as 11 out of 21 banks are under the central bank’s PCA framework. Also, what could have truly prompted the government to ask the RBI to consider diluting the PCA framework, to ensure that regulatory sanctions against PSBs are lifted swiftly. More significantly, it has also sought the review of all the three aspects of the extant framework of the PCA — minimum capital requirement, net non-performing assets and profitability criteria — judiciously put in place by the RBI in 2017.

PSBs’ real inside story should not be lost sight of. Any move to cover up the real situation will prove to be counterproductive for the entire banking sector.

Bengaluru

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