The Supreme Court’s ruling making it incumbent on the part of contesting candidates to make public their source of income as well as that of close family members is a welcome decision. Non-disclosure of this information will now be tantamount to corrupt practices under the Representation of People Act and the election of such candidates could be quashed. This sends a clear message to all.

HP Murali

Bengaluru

Scam story

The fact that though the PNB fraud surfaced only after eight years shows how ineffective surveillance mechanisms are. The scam has dragged a other banks also into the whirlpool. The blame has to be put not on systems or on software but on people.

If every scam has a ‘gestation period’ the banking industry will have to pay a heavy price before long. It is in the interests of the country, the economy and the people that all banks are subjected to a rigorous, high-level, exhaustive audit / inspection covering a fairly long period, conducted jointly by RBI and strong audit houses.

N Vijayagopalan

Thiruvananthapuram

The fraud is no ordinary crime. It is surprising that there are at least four to five checking levels — an internal audit, CAC, statutory audit RBI inspection and so on — but nobody bothered to check. RBI officials and statutory auditors are responsible for this.

K Ashok Kumar

Kolkata

Too simplistic

It is simplistic to conceive of privatisation as a magic pill to save PSBs.(’If private sector chips in, PSBs can be fixed: CEA’, February 19). Had PNB been in the private sector the bank would have collapsed.

With respect to simple instruments such as bank guarantee there is a system to forewarn the beneficiaries and they are required to make a reference to the issuing bank before acting on them. Why was this simple procedure not insisted upon with LOUs which involved huge amounts? The risk management systems of banks have not kept pace with the emergence of sophisticated international practices and instruments such as derivatives with invisible risks. Employees lack sensitivity and risk management skills. The systems need to be upgraded and tightened. Above all the PSBs need to be insulated from political interference.

Manohar Alembath

Kannur, Kerala

First, infrastructure

This refers to ‘Modicare needs a dose of pragmatism’ by Sriram Balasubramanian (February 19). The Government should invest more in building the healthcare infrastructure.

Primary health centres in villages don’t have staff, and civil hospitals are rampant with corruption. There is scarcity of resources and professionals only want to mint money at the cost of the sick and vulnerable. The infrastructure needs to be upgraded along the lines of SEZs before programmes are drafted.

Moin Syed

Gulbarga, Karnataka

Multiple healthcare players participate in this scheme so that due to competition premium is lowered. Moreover the amount of money required to finance such a massive scheme will go on increasing year-on-year. Considering the state of medical corruption in India and the exorbitant costs in private healthcare, the Government must be wary about ensuring that providers do not take citizens for a ride.

TSN Rao

Bheemavaram, Andhra Pradesh

State of health

With reference to the editorial, ‘Healthy competition’ (February 19) there are some non-healthcare factors why UP and Bihar rank among the unhealthiest States. These have little to do with stingy State expenditure on healthcare. Hospitals in farflung areas attract the services of inadequate medical or para medical staff.

This results in insufficient use of the already meagre resources. Besides, there is malpractice in supply and distribution of medicines, and in medical facilities.

YG Chouksey

Pune

LETTERS TO THE EDITOR Send your letters by email to bleditor@thehindu.co.in or by post to ‘Letters to the Editor’, The Hindu Business Line, Kasturi Buildings, 859-860, Anna Salai, Chennai 600002.

 

Related Topics
comment COMMENT NOW