This refers to the article 'Product innovation, availability of retail finance to drive farm mechanisation' (January 20). It is true that in the name of farm mechanisation, banks have been financing more tractors and tillers and to some extent harvesters. But, there are many other equipment like sprayer, seeder, rippers, weed removers, bush cutter, dry land weeders, grain tillers, crop specific harvesters, levelers, chaffcutters etc which the farmers use.
These equipment are not costly when compared to a tractor and its accessories. Besides, these allied equipment do come handy for the farmers in managing their day to day activities. It is not clear whether the present agricultural lending schemes of banks facilitate financing for these equipment. If not, they must be defined with clear cut guidelines from RBI to be included under Priority Sector Lending.
This refers to “The RBI’s cryptocurrency dilemma” (dated January 20). Looking at various arguments put forth by the proponents, it is clear that disadvantages overweigh advantages.
Whether cryptocurrencies need to be treated as an asset or exchange currency, regulators do not seem to have any definite answers. The contention that cryptocurrencies have gained immense popularity in recent times cannot be the sole criteria for advocating its recognition as a currency.
Unlike other currencies, the fact that cryptocurrencies are not backed by any underlying asset clearly proves that trading in it is “speculative” in nature. Also the fact that it has lost its value substantially since November proves its downside risk. There are more than 8000 cryptocurrencies in existence as of January 2022 and the sheer volume itself would pose a serious challenge to regulators. The government needs to assess all pros and cons before bringing in a Bill to regulate cryptos.
No will, no hopes'
Apropos news reports indicating the poor air quality in NCR with the air quality index (AQI) representing a ‘very poor’ level. Notably, Faridabad and Gurugram were among the most polluted cities in the NCR and Haryana State. As per Haryana State Pollution Control Board (HSPCB), fog, dip in temperature, dust, vehicular traffic, among have led to the present condition. For sure, such a scenario does not augur well for the health of their inhabitants.
Mind you, there is no respite on this count despite the National Green Tribune (NGT) taking a strong view of the upswinging AQI in the entire NCR and repeatedly urging various stake holders to urgently rise to the occasion. Where there is a will, there is always a way. But the same appears to be sadly missing here.
The Supreme Court verdict upholding the National Company Law Tribunal Order to wind up Devas Multimedia, a private entity which entered in to a agreement with Antrix, a commercial arm of ISRO in 2005 for a 12-year lease of transponder space on two satellites, but it was abruptly cancelled by the then Congress led UPA government after the allegations of impropriety surfaced, has now emboldened the present BJP led government to argue against the seizure of government properties internationally by Devas Multimedia and its investors who have been trying to enforce the awards by International tribunals.
Following the cancellation of agreement with Antrix, Devas Multimedia had approached International tribunals seeking compensation nd received award in its favour. While the government reserves the right to contest international arbitration awards which was not in its favour, it cannot be oblivious to the negative ramifications on its persistent efforts to position itself as an attractive foreign investors destination. As foreign investors look for predictability in policies, the government cannot simply ignore its obligations to abide by international norms.
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