Letters to the editor dated July 8, 2021

Apropos ‘In biggest Modi Cabinet shuffle, 43 new faces in, 12 old guard out’ (July 8), it was interesting to observe that the swearing-in of 43 new faces was also followed by the ‘unceremonious’ exit of 12 ministers including Harsh Vardhan, Ravi Shankar Prasad, Prakash Javdekar, Ramesh Pokhriyal Nishank, Thawarchand Gehlot among others. PM Modi can now boast of having inducted seven PhDs, three MBAs, 13 lawyers, six doctors, five engineers, seven former civil servants and 68 graduates as also 12 women ministers in his newly constituted Cabinet, with an eye on the forthcoming Assembly polls. But the substantial changes being effected in the current portfolios of some of the key 'onboard' (retained) ministers, also speak volumes about the PM himself not being satisfied about the actual performances of several of them in their existing capacity, with a few exceptions.

However, one of the biggest surprises was the elevation of Kiren Rijiju, as the new Union Law Minister. Another vital change could have been Narendra Singh Tomar, Union Agriculture Minister, owing to his failure to ‘resolve’ the ongoing farmers’ agitation against the three central farm laws.

Bengaluru

A mammoth union cabinet reshuffle which was marked by an induction of new faces and exit of few of the old guard who held prominent portfolios earlier appeared to have been largely guided by electoral calculus. The induction of party heavyweights from poll- bound States of Uttar Pradesh and Gujarat coupled with representation given to Dalits and Most Backward Classes is a case in point. The dropping of Harsh Vardhan is a tacit acknowledgement of failure to effectively handle the catastrophic second wave of Covid-19 pandemic. An another notable feature of the Cabinet reshuffle is the accomodation of coalition partners as BJP needs them more now to script electoral victories in the upcoming crucial State polls. Only time will tell whether the course correction effected by the Prime Minister through changes in his Cabinet will bring any tangible benefits to the country.

Sholavandan (TN)

The Reserve Bank of India has imposed monetary penalties on 14 banks for non compliance of some of its guidelines. The provisions under which the action has been taken are quiet serious like pledge of shàres not exceeding 30 per cent of the paid up capital of a company, loan against the banks' own shares, loans to bank directors, connected lending etc. These guidelines have been in force for long and they are a check on the improprieties committed by banks in handling loan book. Levying penalty is not the solution and RBI should monitor these requirements in onsite/offsite inspection. In the current scenario of digital banking it is not difficult for banks to monitor the deviations. It should also be examined whether such lapses occur intentionally or due to lack of knowledge and remedial action should be taken.

Mumbai

Apropos ‘Belgium, Russia buying lifts coffee exports’ (July 7) is indeed good news for the Indian economy of which the exporting community are inseparable. However, the Indian coffee sector continues to reel under several problems, right from rising input costs and unscientific pricing, these risks are negated for the trading sector whose major strength is speculative investment on piling up coffee stock to be traded at an opportune time. With curbs on trading of exportable commodities unlikely, coffee growers must show their strength of unity by planning a co-operative movement (FPO) and establish their own export hub to earn revenue and also to promote coffee in local markets. These efforts now are conspicuous by their absence as dependence on subsidies may not help the needy.

Halekere Village (Karnataka)

Apropos the news item titled ‘Centre’s big push to LIC’s mega IPO” published on July 1, 2021, LIC has clarified that it is still governed by the LIC Act and it is incorrect to say that it has been converted into a company. The error is regretted.

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