Letters

Letters to the Editor dated November 8, 2019

| Updated on November 11, 2019 Published on November 08, 2019

Cyber security

This refers to the editorial ‘Is India cyber security ready?’ (November 8). Although the article has stressed on the cyber security system at NPCIL, India has become vulnerable to cyber security threats in a much broader sense. The ongoing social and political debate on ‘Pegasus’ is case in point. True that a tiny country like Estonia (population 1.33 million) might have digitised. But, for India (population 1.33 billion), it is not simply the digitisation of infrastructure that is required, but the digitisation of the mindset of its citizens in the form of digital literacy. Unless there is digital literacy, there cannot be strong cyber security in our nation.

Ramala Kinnera

Hyderabad

Independent directors

This refers to ‘Test for independence’ (November 8). There is no doubting the good intention of the MCA for having online assessment for independent directors, as lack of corporate governance has become a big issue in the corporate world.

An independent director should be able to share unbiased opinion/view on a company’s policy, activity or action. If a company is engaged in corrupt practice or some wrongdoing, then the independent director should be the first person to flag it.

It is said there is a huge difference between practice and theory. So passing an exam does not mean that a person will act independently in the true sense.

Coming to the monetary aspect, yes a handsome package may act as a good motivator but then they should be ready to get penalised, too, in case non-compliance issues crop up.

Bal Govind

Noida

 

Leasing of mines

This is with regard to ‘Expiring mine leases may hit steel sector hardest’ (November 8). The expiry of the licence for 329 mines, including 281 non-operative ones spread across 10 States, may lead to low prices in auctions as debt-ridden metal companies may not bid aggressively.

Moreover, the decision to cancel the licences of private commercial miners and renew the captive mine licences of large corporates is discriminatory and will not help give a boost a sector that is braving a slowdown. Further, among the operative mines 14 are iron ore mines and any disruption in supply will hit the steel industry, which has set an ambitious production target. Taking into account these factors, the mines should be auctioned and must pave the way even for private commercial miners to get licences. This will dilute the concentration of economic power in the hands of a few.

NR Nagarajan

Sivakasi

Maharashtra CM post

This refers to ‘Approach Shiv Sena if you are ready to share CM post: Sanjay Raut tells BJP’ (November 8). One fails to comprehend the rational behind the tussle between the BJP and the Shiv Sena over Maharashtra’s chief ministership. Did any one ever expect such stubbornness on the part of the two pre-poll allies? Does the Sena really deserve the post of CM of Maharashtra (even on the rotational basis) when it has secured just 56 seats as against the BJP’s 105?

Kumar Gupt

Panchkula, Haryana

 

Funding realty projects

Apropos the news item ‘Govt caps funding for single stalled realty projects at ₹400 crore’ (November 8). The measures announced by the government to give a fillip to the real estate sector are welcome and timely. But price caps and carpet area limit of 200 sq meters are very restrictive. It may so happen that in a project having flats of different sizes a few of them may exceed the above caps and excluding them alone from finance is not going to help the project and achieve the objective of the government package. Regardless of the size, flats may be considered for financing and preference may be given to projects with longer vintage. Also, for projects where superstructures are ready for fit-outs and only finishing is to be completed the cap on flat prices may be relaxed and need-based funding may be extended as such projects, once completed, will only improve the overall market sentiment.

M Raghuraman

Mumbai

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Published on November 08, 2019
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