Letters to the Editor dated June 19, 2020

This refers to ‘Insurance regulator mulls including Covid-19 home treatment costs under health cover’ (June 19). This is welcome in the context of the extensive spread of the virus and the high cost of treatment. But the conditions that the benefit would be extended only if hospital beds are not available and on having an ‘authentic certification from the government suggesting home treatment’ is problematic, especially for poor patients. No conditions except proof of genuineness of the demand should be attached to extending the benefit.

Coimbatore

This refers to ‘Petrol, diesel prices hiked again,13th straight day of increase’ (June 19). The ongoing hike in prices of petrol and diesel is likely to continue. State-owned OMCs, which had withheld passing the entire burden of the hike to the end-users owing to very low global Brent crude price, have now started passing on the same in a phased manner.

Needless to say, most of the people are struggling with Covid-related fallouts. But then, the government also needs funds.

New Delhi

Apropos the editorial ‘Boosting securitisation’ (June 19), the draft framework released by the RBI is a good move for Indian lenders. The main challenge faced by banks in the case of long term loans is the slow recycling of funds and the need to make provisioning, when any of them becomes an NPA.

The RBI has proposed several modifications to the existing guidelines. These should change the face of lending in banks for the better, by improving the credit appraisal process. With adequate checks and balances in place to ensure that the end investors are not left holding junk securities, the proposed changes may well turn out to be a win-win for the Indian lenders.

Chennai

This refers to ‘Textile sector needs vision and mission’ (June 19). In a sector where raw material determines 35 per cent of the total production cost, India, with the largest area under cotton, 26 per cent of the world acreage, account for only 9 per cent of the world output.

With today’s high spinning speeds, we require long-staple cotton that we largely import. In a competitive market, staple-cotton quality makes a vital difference in the strength, texture and shine to the textile. The reality is that we have been trailing behind our competing neighbours for nearly a decade now. To recapture eminence, there can be no half-measures.

Navi Mumbai

The major problem with the textile industry is that we manufacture more yarns than are needed locally and end up exporting them. Yarns are considered as commodities and it makes no commercial sense to export at the preliminary stage of the value chain. Spinning capacity is to be balanced with weaving, processing and garment-making to get maximum benefits for the industry.

The best way to streamline this industry is to increase exports by signing trade agreements, making them attractive in global apparels market and increasing exports of fabrics and apparel by minimising raw cotton and yarn exports. For this, new the Integrated Technology Parks should be set up in different places and some consolidation may also be required.

Mumbai

That the relations between India and China are deteriorating is reflected in people in India wanting a massive response — even war — against the acts of the Chinese army. But it is necessary on the part of the government, opposition, media and the intellectual class to make people understand that war is not the solution.

War only leads to hardship for both sides. The need of the hour is to fight this problem through diplomatic means.

Jammu & Kashmir

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