Resolving NPAs

This has reference to ‘Unorthodox solution to resolving NPAs’ (November 19). The workability of floating equity funds, as suggested in the article, is debatable in the Indian context. But again, we search for a ‘suitable lock’ to close the stable after the horses are stolen. The more realistic approach should be to quickly arrest the loan books of banks becoming duds. Unless and otherwise a feasible formula or mechanism is devised to meet this end, redeeming the banking sector from its present ailment will continue to remain a far cry.

Kumbakonam, TN

The Andhra Pradesh and West Bengal governments have prevented the CBI from operating in their States, which is nothing but a anti-federal stance. This could have been avoided. It only shows senior and seasoned politicians like Chandrababu Naidu and Mamata Banerjee in poor light. If they and their colleagues have not done anything wrong, why should they be afraid of the CBI? Yes, there are issues in the CBI, which the Centre is addressing anyway. Naidu’s strong anti-BJP posture nowadays may be due to political compulsions, to address the anti-incumbency factor and the growing popularity of YSR Congress in the State as elections approach.

Tiruchi

Finally, after years of waiting and struggle, the Maharashtra assembly has cleared the decision to extend reservation to the Maratha community by creating a new category called Socially and Educationally Backward Class on the recommendations of the State Backward Class Commission. Of course, the decision made by the Maharashtra government is welcome, particularly because it was the life-long dream the Maratha community.

Mumbai

British Prime Minister Teresa May’s efforts to get parliamentary approval for an exit deal with the European Union (EU) have hit a roadblock with several of her senior Cabinet colleagues expressing their strong disapproval over the same (exit deal) and tendering resignation, which puts her position in jeopardy. Given the intensity of the revolt by her colleagues over the exit deal, which they perceive will compromise the country’s interest and sovereignty, one cannot easily rule out the possibility of another general election sooner than later. The prospect of a no-deal in the event of no parliamentary backing, whose possibility looms large now, will create more chaos and bitter ramifications for both Britain and the EU. Ever since Britain voted for an exit from the EU through a referendum, efforts were made to forge a political consensus over the modalities for a future relationship with the EU but in vain. Given the uncertainties surrounding the exit deal, only a second referendum over Brexit would save Britain from its present chaos.

Sholavandan, TN

This is with reference to ‘When founders fall’ (November 19). People are in fact the biggest asset of any organisation and the most complex too. Many organisations treat their employees in same manner as other assets in the organisation. If handled and groomed properly, human assets will help boost the other assets of a company. However, it is a sad commentary that while trade unions bargain for higher wages and other facilities, they hardly fight for the emotional well-being of employees.

Thane

In the report ‘RBI deadline to appoint new CEO will be met: YES Bank’ (November 17), due to an editing error, the following quote was erroneously attributed to Standard Chartered: “However, in all the prior meetings of the search and selection committee he attended, there had been no discussions about any conflict of interest,” they added. This was not part of Standard Chartered’s formal response and was actually from another source. The error is regretted.

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