MyVoice: Views of our readers 13th July 2022

KCR comments in bad taste

It is observed that in every press meet Chief Minister of Telangana (TS) always criticises Prime Minister Modi with bitter and abusive words and later switches to state issues. During recent national executive meeting of BJP at Hyderabad , Modi was silent on many questions raised by Chief Minister and this angered the TS CM. As it was a national political meeting ,all concentrated on party political activities in the country. By repeatedly abusing Prime Minister, one loses respect for the criticism by CM.

As the state is severely affected by floods ,it is the prime duty of CM to concentrate on relief measures and looking into many issues due to floods. But TS CM gave second place to it in the press meet. In addition ,Telangana has been facing financial crisis as many delayed payments like salaries to govt employees, old age pensions, college fees reimbursements, bills to many projects etc. TS , Chief Minister's comment on attire of lungi of Yogi Adityanath is unwarranted.

In Tamil Nadu, Kerala and some parts of AP people wear lungis not only in the home but in official functions and all other programmes and functions. Vice President of India, Venkiah Naidu, Congress leader Chidambaram always wear lungis. So Chief Minister crossed limits by insulting the attire and culture of dress. It is purely personal with regional sentiment. Some leaders of MIM always are in sherwanis. Can he comment on their dress? No Chief Minister so far expressed such bitter outbursts as that of TS CM.

J P Reddy, Nalgonda

Banking sector needs better monitoring

It is true that banking has been suffering heavily with continuous frauds emerging on a continuous basis. The biggest fraud in the recent time is Rs.35000 crore liability of DHFL to the consortium of banks led by Union Bank of India. The banking system is the backbone of any country's economy. In fact, all scams whether interior or outside are results of operational failures. Research has found out that limited asset monitoring after disbursement was the foremost reason behind stressed assets .

A study by IIM Bangalore has shown that poor bank corporate governance is the cause behind rising bank scams and NPAs. To prevent frauds in future banks have to exercise due diligence and caution while offering funds. Internal and external audits should be tightened. There is a need to implement an effective management information system to monitor early warning signals about big business projects. Only establishment of National Asset Reconstruction company Ltd or the bad bank as it is called is not a real solution. These measures can help only after the loan becomes bad,but this will not help the process of a loan becoming bad.

TSN Rao, Hyderabad

National Council of Applied Economic Research (NCAER) report calls for privatisation of all public sector banks (PSBs), except SBI, if implemented is fraught with more risks than the benefits of consolidation as this does not carry a holistic view of Indian banking and socio-economic scenario of the nation. Private banks capturing market share more than PSBs is also an indicator of capitalist economy's bias towards exploiting fully the governmental indifference towards PSBs in general.

People in general have strong faith in PSBs and this should not be diluted. With GOI's stake in PSBs, no one prevents the government from taking quick hard decisions against the big bank defaulters to retrace public money. PSBs remained strong even after the global meltdown in 2008 in the USA when the economic slump in the housing market went from boom to bust due to too much stretching by private financial players.

Only strengthening of professionalism in Indian PSBs inducting more human heads vis-a-vis the number of accounts they handle coupled with giving them clear focus to serve teeming millions of India for their banking needs including business loans for self-entrepreneurship wholeheartedly which will help economic rejuvenation significantly.

Brij Bhushan Goyal, Ludhiana

Is it advantage DMK in TN?

The emergence of EPS as the party's 'supreme leader' does not mean that he will come to wield the same power over the organisation as MGR and J Jayalalithaa did. His popularity among the masses remains to be tested. Even though he has made a niche for himself as an able administrator, he is not a cult leader in the mould of MGR and J Jayalalithaa hailed as Puratchi Thalaivar and Puratchi Thalaivi to hold sway over the electorate. He does not have the stature and charisma of the stars-turned-politicians to seamlessly fill their shoes. He even prostrated before Sasikala as a gesture of gratitude for nominating him to the CM's post.

Dumped by his party, OPS has to now make moves to save himself from political oblivion; he has the option of joining hands with V K Sasikala or the BJP. His admiration for Narendra Modi and his 'friendly disposition' towards the DMK appear to be mutually incompatible. If Sasikala and OPS join hands and convince the Thevar community that their sidelining is the community's sidelining in Tamil Nadu politics, it will erode the AIADMK's support base.

The EPS-led AIADMK and the BJP may now vie with each other for occupying the Opposition space. When it comes to representing Tamil culture and identity, the DMK with its Dravidian moorings and ideological clarity is in a far more unassailable position than the ideologically fragile AIADMK.

G David Milton, Kanyakumari