Heavy downpour

This refers to the editorial ‘Yet another deluge’ (August 12). Rains have battered Kerala, Karnataka and Maharashtra, leaving many dead, and breaking down communication links. But these are not the only States which have seen torrential rains creating havoc; some parts of Gujarat, Bihar and MP also witnessed it. The NDRF and Indian Army teams are working overtime to provide relief and rescue the citizens but still there is a lot which needs to be done. Excessive construction and climate change have resulted in this crisis, which has sadly become routine nowadays. What is beyond comprehension is that we are not learning our lessons.

Noida

This refers to ‘FinMin plans 16-point ‘KRA’ to push PSBs’ (August 12). The state-owned banks’ performance in the 16-point KRA depends upon the demand for the products and services of the bank, especially for credit. The government has to hasten the execution of economic reforms to boost the demand for banks’ products and services. Excessive pumping of credit will pave the way for diversion of funds for speculative purposes and result in the creation of bad assets and negative performance.

The health and credibility of the banking system, especially that of public sector banks, depends on efficiency in recovery of bad loans and the technically written-off loans.

Resolution of big-ticket loans with deep discounts to bidders is ultimately a loss to the exchequer, with the arising gap funded by the government as capital.

Providing banking facilities to the ailing segments is badly affecting the lenders, hence it becomes imperative to execute measures to correct the functioning of the former to ensure that it is not adversely affecting the banking sector. Till the ailing sector becomes healthy, the bank’s services, particularly the credit facilities, must be a performing asset in the loan books of the bank.

Generation of bad assets is occurring on account of the problems of the bank, the borrowers, internal and or external adverse macroeconomic factors, and the policies of the government.

Kottayam

Apropos the news report ‘CA society: SEBI proposal on auditor resignation in conflict with Institute norms’ (August 12), resigning shouldn’t be a feasible solution.

Auditor resignation in the middle of the year spreads uncertainty, with serious ramifications on the market capitalisation and reputation of the entity. What SEBI has rightly tried to do is resolve this ongoing crisis.

Let the ICAI sit with SEBI and review the issues that auditors fear, especially of disciplinary action.

Gurugram

With reference to the report ‘Importance of small-scale philanthropy’ (August 12), philanthropy is not only essential but also a part of our cultural heritage. Irrespective of its scale, every individual must be encouraged to give away some of their resources to others.

As human beings, we enjoy socialisation and live in mutual dependency mode . Hence, every capable individual/family should contribute to bridge the gap between the haves and have-nots to bring about social justice for a harmonious living.

Jaipur

This refers to ‘Choice of Sonia — a ‘ balancing act by CWC’ (August 12).Even after having ruled the country for a long period of time, it is unfortunate that the Congress is unable come out of the clutches of the Nehru family. With the obvious non-existence of democracy within the party, there is no question of ensuring a democratic process of administration by the Congress, in case they gain power again. It is surprising that the mantle of the party, though interim, has been given to Sonia Gandhi.

That not a single person from the party has emerged as a leader after so many years is quite shameful.

Bengaluru

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