Forex inflows

This refers to ‘A tight ship’ (May 30). Out of the several components of RBI’s reserves, it is foreign currency assets, especially those designated in US dollars, that proves risky as the value of such assets are purely dependent on US Fed monetary policy measures. Due to the twin issues of Covid pandemic and Russia-Ukraine war, US Fed is on a rate hike spree which leads to revaluation losses on US securities. The brittle nature of forex inflows which are in the form of FPI, FDI and FII also add to the uncertainty in terms of their stability as investors quickly move their money to safe havens in case of interest rate volatility. It is time that the RBI recalibrates its reserve composition to the rapidly evolving situation so that they could avoid re-valuation losses in their holdings.

With rapid increase in global crude oil prices, rising inflation, excess liquidity and exchange rate fluctuations there could be need for frequent intervention on the part of the RBI to balance the situation. Also, with the huge government borrowing programme on the anvil, the RBI needs to keep interest rate at a manageable level. It is also time for the government to expedite alternative sources for mobilising funds like asset monetisation, disinvestment of unviable PSUs, etc., so that it does not face a resource crunch.

Srinivasan Velamur

Chennai

Sharing Aadhaar number

This is with reference to ‘Centre warns of Aadhaar information misuse’ (May 30). The concept of UIDAI-based Aadhaar card system has been almost a 100 per cent success and is being used by several departments as a secure and confirmed measure as regards checking the identity of individuals. Even though the Supreme Court stated that it cannot be made a compulsory requirement, yet it is being insisted everywhere, even for booking rooms in outstation hotels. With this being the situation, the Central Government stating that only a masked Aadhaar card must be given defies logic. Thankfully the government has retracted, because it is a known fact that currently no organisation will accept masked Aadhaar for extending services.

Katuru Durga Prasad Rao

Hyderabad

Caller ID issues

This refers to ‘Caller ID raises privacy, security questions’ (May 30). The Department of Telecommunications is set to come up with a mechanism that will enable the name of the caller to flash on the receiver’s mobile phone even if the number isn’t saved in the user’s contact list. Currently, all use caller ID apps, such as Truecaller, for the same. However, the mechanisms in place are different. Such apps reportedly use crowd-sourced data to show the name of the caller. Evidently, these are not accurate all the time.

The government’s mechanism, on the other hand, relies on the KYC (know your customer) data that you share with your network provider to avail the services. These include ID proofs such as the Aadhaar card. Hence, chances for inaccuracy is lower. The government’s plan is currently at a nascent stage. India’s telecom regulatory body TRAI should soon float a consultation paper to get stakeholders’ comments. Open house sessions will then happen in major cities. The government should follow strict rules to avoid spoofing and address the problems seriously.

P Sundara Pandian

Virudhunagar, TN

Mental health

This refers to ‘Mental health myths’ (May 30). The mental health of citizens should be part and parcel of the healthcare system. In India, a lot of importance is given to the physical fitness of people/workforce. However, when it comes to mental health, there is hardly any provision for counseling, and visiting a psychiatrist is considered taboo. The closure of schools/educational institutions during the pandemic have led to many anxiety-related issues among students as well. Whenever any student shows signs of depression or differential behavior, they should be immediately counseled by qualified personnel. On its part, the government should appoint counselors in all educational institutes. The government should also take the help of psychiatrists/NGOs to help the students overcome problems relating to mental stress/health.

Among the workforce, the mental health of those in whose hands the lives of people are dependent –- pilots, motormen, bus/lorry driver, etc -– is even more important. The government should ensure this section of the workforce is given regular counselling so that their day-to-day discharge of duties is not affected.

Veena Shenoy

Thane

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