Letters to the editor dated July 22, 2021

| Updated on July 22, 2021

A welcome move

The government plans to table amendments to the Deposit Insurance and Credit Guarantee Corporation Act in this monsoon session is a necessary step. The government last year had raised the coverage five fold to ₹5 lakh, but some flaws still exist. The amount of claims settled till March 2020 for cooperative banks is ₹5,198.83 crore while it is ₹295.85 crore for commercial banks which is 18 times more.

The failures of cooperative banks are more than that of commercial banks. But the premium collected is same from all banks which is unjustified. For decades there have been discussion about charging differential premium based on risk perception. This is a genuine demand and before the Bill is introduced the rates of premia for different banks must be worked out to minimise the settlement burden on banks.

Collection of premium from the depositors is clearly unjustified. Already they are losing out due to low rates of interest and adding TDS is like adding fuel to fire. Let the depositors’ hard earned money be protected especially that of the senior citizens.


Bhimavaram (AP)

Oxygen issues

Apropos Editorial ‘Disingenuous assertion’ (July 22), the third wave is looming large even as a few States are yet to come out from the grip of second wave. In the recent past, the Centre had taken steps in ensuring supply of oxygen through Oxygen Special Trains. Simultaneously, steps were afoot in augmenting the oxygen supply through domestic production and through import. Manufacturing of required vaccines was also commenced through various medical companies and startups to meet the local demand initially and to export to the neighbouring countries.

It will be sheer waste of time on the part of the Centre now to advocate that the dearth of medicines did not cause more death. Instead it needs to devote time and energy in finding quick fixes in the demand and supply of vaccines to cover the entire population.

RV Baskaran


Apropos your edit .'Disingenuous assertion', denial of deaths due to oxygen shortage by the Centre has left citizens furious. Defence of this stand has only aggravated the anger of the people. Especially those who were desperately trying to obtain the oxygen cylinders in order to save their loved ones. Unfortunately not all were able to do so.

The people are just not interested in the political games being played between the Centre and States. All they know is the pain and suffering and loss they had to undergo due to the unavailability of oxygen.

Anthony Henriques


The skilling challenge

With reference to the article ‘India's jobs and skills conundrum’ (July 22), universally, technology has disrupted to differing degrees, each skill level, in every human engagement. AI and Big data are still at an incipient stage. From simple automation that converted artisans to workers, we have moved to 3D printing that redefines blue collar jobs, the all pervading mobile data grid and the Internet of Things, are redefining whit collar ones. Cheaper manufacture renders repair and re-use obsolete.

The combination of modern era economics and galloping technology has ushered in an era of jobless growth universally. In this phase of transformation, the pool of conventional skills has begun to shrink. In the meantime, higher levels of education, digital literacy and training have led to better skills.

Western nations tweak immigration policies to receive such skilled labour and post Covid, their exodus from India to the Middle East too will resume. And their skill too moves out for which sadly no studies seem to have been conducted yet. The entire dynamics of labour engagement will change and we might be left to discover the huge cost of this lost skill, as we struggle to limp back from the pandemic.

R Narayanan

Navi Mumbai

Published on July 22, 2021

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