Letters to the editor dated May 7, 2021

With reference to the article ‘Time for 5th generation banking reforms’ (May 7), despite the many phases of reforms so far, banks especially in the public sector have to a long way to go to become globally competitive. Merging public sector banks, without cleaning their books is hardly helping them scale up. Radical and rapid reforms are essential to resolve the bad assets menace and the government must establish a bad bank with the participation of the private sector.

Banks have to drastically improve their efficiency to cope with the changing scenarios. The task of taking along the society for financial inclusion, alleviation of poverty and generation of employment are crucial for the development of an underdeveloped economy, and the new generation banks must be equipped to discharge their responsibilities.

Changanacherry (Kerala)

Market moves

With reference to the editorial ;On hold’ (May 7), though the stock market indices may not be the real yard stick to measure the economic growth, the role played by foreign investors — both through FDI & FPI route — supported the demand and consumption for products and services. The uncertain economic outlook caused by the pandemic is causing the subdued investor interest and the resultant outflows of foreign exchange. However the general view is that, globally the investor perception is also undergoing subtle change, with the present market dynamics aligning with medium to long term investment outlook by the growth oriented investors, instead of looking for quick and volatile returns. Alternate Investment Funds is one such avenue to encourage & retain the foreign investments on large scale. Need of the hour is to consider more regulatory sops to FPIs in AIF investments to ensureeconomic growth.

Bengaluru

This refers to the news report, ‘Create oxygen buffer ahead of third wave: SC to Centre’ (May 7). Our preparedness to fight the lethal second wave is in shambles. And there are no signs of let up. It is in this context that the Principal Scientific Advisor to prime minister announced the possibility of a third wave.

We are none the wiser, nor safer after the announcement because there still are no beds, not enough medical oxygen and there is a severe scarcity of the drugs and equipment, manpower and even ambulances.

The Centre and States now have to be ready with a rational plan to manage the next wave. The Supreme Court has directed the Centre to evolve a comprehensive oxygen supply plan to ensure 700 MT to Delhi, the country as a whole needs such a plan for all critical care components, including testing kits. The Centre has to urgently ramp up testing and vaccination facilities, without which we will be left paralysed during the next wave.

Bengaluru

Apropos ‘Telangana bans controversial herbicide Glyphosate’ (May 7), though the ban seems positive from the angle of soil health and human safety, the State administration must plug loopholes in the system as the actual users may find alternate routes to smuggle them from neighbouring States, where it is freely available. In view of prohibitive labour cost, use of herbicides to kill weeds has been adopted as an economically feasible alternative and it cannot be undone merely by an overnight ban, unless an alternative plan is offered to the farmers. Perhaps pre-emergent herbicide could be an alternative, which of course is not a exact substitute for manual de-weeding.

Halekere Village (Karnataka)

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