Are journalists the modern version of the wise and mischievous Narada? Why do they ask celebrities uncomfortable questions and put words in their mouths? In the course of an interview on his 50th birthday, Shah Rukh Khan added his voice to the ‘climate of intolerance’ chorus; he said there was a climate of “extreme intolerance” in the country.
Of course he was pilloried for this. Similarly, journalists asked Vidya Balan and Kamal Hasan if they would return their awards. No wonder Amitabh Bachchan wisely refuses to comment. Why trouble trouble till trouble troubles you?
It is perplexing that Kamal Hasan has chosen to oppose the return of the awards by writers and other creative personalities. While he is within his rights to retain his hard-won awards and hard-earned money, he cannot nail the rebel league by holding their method of protest “ineffectual” and “futile”. The effect may not be quantifiable, but it is tangibly manifest in heightening public awareness of the issues involved.
In simplifying and generalising intolerance, the actor exonerates the BJP government from the charge of stoking intolerance. By painting political parties of all hues with the same brush, he diverts attention from the Sangh Parivar’s systematic attempt to obliterate the pluralistic principles of our nation.
G David Milton
Maruthancode, Tamil Nadu
Track record matters
With reference to ‘We don’t need no reservation’ by Aarati Krishnan (November 4), there is no doubt that retail investors should participate in markets. But investing in the primary market is riskiest for them; of IPOs, secondary market and MFs, the mutual fund route is the least risky. As we know the track record of an MF scheme we can chose the scheme we want to invest in.
The writer has rightly highlighted three critical reasons for retail investors to be wary of primary markets. It is not about investing in well-known companies but in a company with sound financials and a long-term track record.
Bal Govind
Noida, Uttar Pradesh
There are many things worth considering in pricing the IPO. During book-building, investors have no idea about the operation of the company, and in the last few years the debt-equity ratio has increased. Equity being smaller, the company is more tilted towards debt. There is little risk in trading the debt instruments because price and interest are inversely related. But retail investors had to consider the capital gain and dividend in holding the stock; both are dependent on the economic environment. If the company gives dividend to please investors in an unfavourable climate, it indicates the company has no plans to invest further. Therefore, reserves are necessary.
Pricing cannot be estimated beforehand given the complexities in the financing and operations of the company. However, institutional investors can take a risk because further distribution is done based on NAV or bonus or proportionate investment.
But when the IPO is simple it means that products and functioning can be assessed with ease, the history of similar companies is available, and the retail investors feel safe.
RK Arya
Faridabad, Haryana
Seniors deserve better
This is with reference to ‘Corporate tax may be pruned ahead of schedule’ (November 3). The maximum personal-individual tax slab should be lowered to 20 per cent from 30 per cent, and senior citizens’ problems should be minimised. TDS provisions must not be applicable to them. The exemption limit should be ₹10 lakh for all senior citizens. They pay taxes for a long time – but what do they get back?
No one minds paying taxes if one gets facilities to live comfortably. There are multiple taxes without any return. Is there financial security from the government for old age? Does one get medical help in old age? Even basic services and amenities such as roads, electricity and water, education, hospitals are not satisfactory. The worst sufferers are senior citizens.
Mahesh Kapasi
New Delhi
A new low
The simmering controversy over cow slaughter and consuming beef hit a new low with Shivamogga district general secretary, SN Channabasappa, shockingly remarking that Chief Minister Siddaramaiah would be beheaded if he ate beef. The slur is nothing short of demeaning and with it the saffron party's credibility has taken another tumble. The chief minister himself came under a cloud recently when he said he would eat beef if he wanted to and nobody could stop him. The incident comes at a time when the saffron party and its affiliates are facing a slew of accusations of being intolerant. While the BJP has done well to disapprove Channabasappa’s statement and asked all other leaders to refrain from using offensive language, it has its task cut out in reining in reckless leaders and loudmouths within the party and bringing them to heel.
NJ Ravi Chander
Bengaluru
Graduates and employability
The galloping rate at which graduates are mass produced from universities is one of the reasons for the young workforce in today’s organisations. However, employability is a serious problem as our education system is one-dimensional and lays emphasis only on scoring marks and not on acquiring skills. Organisations prefer people with multiple skills such as being a good team player, able to take the initiative, show leadership, be flexible, be able to adapt and think cratively. It is important that education policymakers review the situation and reorient the education system to bridge the gap between the demand and supply of employable graduates.
TS Karthik
Chennai
Don’t pressure banks
This is with reference to the news report ‘Banks’ stressed assets likely to improve only marginally’ (November 4). Political meddling is one of the main causes for stressed assets. It should be entirely left to bankers whether they want to finance a company or restructure a loan and there should not be any political pressure. The mounting NPAs of PSBs is a threat to the economy and should be dealt with firmly by the finance ministry and the RBI. We cannot put good money for financing bad loans.
Secondly, loan waivers put heavy financial constraints. Most of the loans are waived either with an eye on the elections or to meet the political demands of political parties. We need more banks that will lend to poor farmers, illiterate people and small entrepreneurs who mainly depend on moneylenders for their financial needs and who in turn squeeze them with higher rate of interests. Banks are the custodians of public money and that should be used prudently. Hence political influence should not affect banking decisions.
Veena Shenoy
Thane, Maharashtra
Unfair protest
The action of a group of activists of the farmers’ Relief Forum in laying siege to the bank and detaining staff from leaving the premises from 4.30 pm to 2.30 am simply for doing their duty is highly deplorable. Let the forum find out the real cause of the defaults and agitate against the government which has failed to protect farmers from crop failure which has resulted defaulting on loan repayment. It is highly unjustified to find fault with the bank which has adopted its laid down procedures in arresting the borrower. If such incidence of taking the law into their owns hands recurs it will be very difficult for public servants to discharge their duties and protect themselves and the properties of the institution.
TSN Rao
Bhimavaram, Andhra Pradesh
Consumers, act now
The prices of tur dal, no doubt, have hit the roof. So what? It is not a necessity. We can live without it. People can think of alternative dals, which are available in plenty. If our tastes change, the demand for tur dal will come down, and so also its prices. Consumerism is one of the potential remedies to combat inflation.
S Ramakrishnasayee
Ranipet, Tamil Nadu
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