Letters to the editor dated June 30, 2021

This refers to ‘SEBI moves to empower independent directors’ (June 30). The most critical aspect for independent directors to perform their role successfully is freedom. They should be allowed to share their transparent and unbiased views with the management for the larger interest of the shareholders and investors.

With the changes in rules, SEBI has given more teeth to the office of independent director. Three years cooling-off period and seeking approval of public and institutional shareholders to appoint independent directors will go a long way in ensuring independent directors do justice to their roles to safeguard shareholders’ interests.

Noida

This has reference to ‘Implement ‘one nation, one ration card’ scheme by July 31, SC tells States’ (June 30). In August 2020, 24 States were identified for implementation of the scheme.

States must look to implement the scheme quickly and in its true spirit, by ensuring that necessary additional foodgrains are procured to meet the demands from migrant workers. Currently, the migrant workers are put to undue hardship, shunting as they are between fair price shops and the government offices concerned for getting the required endorsements.

Chennai

Apropos ‘Do not rush Pesticide Management Bill through, Parliament panel urges Centre’ (June 30), although the matter is more about addressing legal and technical issues, majority of farmers are unaware of the basic purpose of the Bill. Even elected representatives too may not be entirely conversant with the pros and cons of the Bill, yet they are inevitably a part of the resolution.

When there is a surge in the unscientific use of hazardous pesticides, which is jeopardising soil as and human health, there is an urgent need to mitigate their usage. The parliamentary panel must debate this issue on a priority basis.

Halekere Village, Karnataka

It is distressing to observe that there does not appear any light at the end of tunnel concerning the ongoing farmers’ agitation against three new farm laws.

Significantly, the protesting farmers continue to call the shots under the banner of Samyukt Kisan Morcha. But how long will the general masses have to bear the brunt of the non-resolution of the farmers' demand to repeal the three controversial farm laws?

Strangely, each time these farmers give a fresh call for blockage of the main roads, including various national/state highways, the government simply parrots the same old story, unmindful of the general public’s pain and agony.

Since neither the agitating farmers nor the government is willing to budge from from their previously stated position, one wishes the Supreme Court urgently settles the issue once and for all, more so when the relevant expert committee has already submitted its findings/report.

Panchkula, Haryana

Apropos ‘FX reserves strong enough to absorb shocks’ (June 30), India ranks fourth globally in forex reserves.

Accumulated essentially out of capital inflows, the forex scene might not be that rosy in the long run due to the current account deficit. Reserves not created from current account surpluses stay borrowed and liabilities accumulate. Also, there may be a need to rework the currency mix to sustain the quality of forex.

Meanwhile, the country’s gold stocks have increased in recent years, a sign of proactive management of the overall reserves portfolio. This will help stabilise our external environment.

This is important in an era of uncertain global economic recovery and near-zero or negative interest rates. Gold holdings currently form a relatively small part of India’s overall international reserves, but attention to the yellow metal could give the country significant room to leverage the reserves.

Navi Mumbai

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