Letters

Letters to the Editor dated February 25, 2020

| Updated on February 25, 2020 Published on February 25, 2020

Empower women

This refers to ‘Women workers hit hardest by unemployment crisis’ (February 25). The need of the hour is to understand what discourages women from continuing work at different stages of their lives as they go through the ever-changing multiple responsibilities of managing the home front and raising children. The empowerment of rural women is a must for the development of Bharat. The impact of MGNREGA on women empowerment has been significant and inspiring.

Further, for the development of working culture among women it is vital to offer them various schemes based on their leanings. The BPO promotion scheme started by the government in 2014 has been making big strides. Community radio is one of the best tools for popularising the BPO promotion scheme. With so much of emphasis on tourism, it is about time a novel tourist guide scheme for women is introduced. The working hours will suit them and their income could be linked to tourist footfalls in due course.

NK Bakshi

Vadodara

 

US’ India agenda

This refers to ‘Do not succumb to US pressure: CPI(M) tells Centre’ (February 25). Prime Minister Narendra Modi must be really “grateful” to the CPI(M) leadership for its timely revelation that the singular intention of the US administration is to further prise open the Indian economy to boost US corporate interests and help Trump in his re-election bid. Curiously, the government was also “cautioned” not to succumb to the US agenda, which would affect the interests of farmers, particularly those in the dairy and poultry sectors.

The ‘Leftist Advisory’ also forewarned the government about the US’ ‘hidden’ agenda on e-commerce while urging it to suitably ‘resolve’ its restrictive H1-B visa policy which remains highly detrimental to Indian professionals. But the moot question here is: Did the CPI(M)’s learned politburo also hand out similar ‘sermons’ each time the Chinese President visited India in the past?

More importantly, could Modi ever be perceived to be completely ignorant of such vital aspects and not wise enough to fully protect the larger national interest?

SK Gupta

New Delhi

Effect of LTRO

It is a welcome move on the part of the RBI to resort to newer tools to regulate prevailing interest rates apart from using repos and open market operations. Taking a leaf out of the US and European central banks, the RBI has added LTRO (long-term repo operation) for softening short term bond yields. In spite of the 139 basis points repo rate cut, credit has not picked up which has led to this new line of thinking. But a word of caution here.

Instead of deploying funds mobilised through LTRO at repo rate (5.15 per cent) for credit expansion, what if banks redeploy them in government securities which are risk free and offer them a higher yield? As banks are saddled with NPAs, this may prove to be a boon for them. In that case the whole purpose of using the funds for credit offtake would get defeated.

Further, since the LTRO is expected to soften medium- to long-term bond yields, the value of government securities that banks have bought for the SLR requirement would rise. This will increase profits as banks record the market value of these securities in their books.

This will be a boon to Indian banks, that are already groaning under the weight of mounting provisions for NPAs.

Srinivasan Velamur

Chennai

Anti-CAA protests

The violence that erupted in north-east Delhi over the CAA (Citizenship Amendment Act) is a matter of concern. Barring a few violent incidents in Jamia Millia Islamia, Jawaharlal Nehru University and in some parts of Uttar Pradesh, the CAA protests have mostly remained peaceful.

In the present surcharged atmosphere, leaders across the political spectrum need to exercise restraint and refrain from making provocative comments. Political parties should get together to ease the present tension and ensure communal peace and harmony on the ground.

M Jeyaram

Sholavandan, TN

LETTERS TO THE EDITOR Send your letters by email to bleditor@thehindu.co.in Letters to the Editor dated February 24, 2020or by post to ‘Letters to the Editor’, The Hindu Business Line, Kasturi Buildings, 859-860, Anna Salai, Chennai 600002.

Published on February 25, 2020
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