Lauding the FM’s views
Apropos bl.interview (May 20), the FM’s clarity of thought and forceful expression must be appreciated.
Profit no longer is a bad word. That is good economics.
For ease of business we cannot go to a situation where no questions are asked.
While spurring private participation in infrastructure development, prudent norms of accountability and fair trade practices of ensuring the rightful returns to the public exchequer are vital.
The FM’s assertion, “banks should not lend for long term from the money borrowed for short term and get into asset-liability mismatch situation” is a guiding principle banks should follow.
On GST reforms not keeping pace, the FM’s admission of the GoM ceding priority to politicking and electioneering over policy matters, is an eloquent commentary on our political reality.
The FM needs to be complimented for the scorecard of achievements and the perspectives brought to play in diverse areas.
Jose Abraham
Vaikom (Kerala)
Banks, focus on banking
Apropos FM’s interview (May 20), it is heartening to see the finance minister speaking at length about the business of banking and the need for bringing all stakeholders on the same page.
Banks dealing with depositors’ money bear an onerous social responsibility.
As regards FM’s appreciation for RBI’s consultations with stakeholders prior to policy formulation, this has become an established practice for decades now. Even the transparent functioning of MPC can be seen from this perspective.
MG Warrier
Mumbai
Farmers and CIBIL
Apropos “Banks should focus on core banking business: Sitharaman” (May 20). As a plantation farmer, I suggest the FM to review the mandatory CIBIL score demand for farmers to avail themselves of financial facilities.
In view of the uncertainty of agrarian sector, medium and small farmers eternally under financial debt, I suggest the FM to do away with CIBIL for farmers since it has made the entire community paranoid about banking transactions and the Jan-Dhan zero-balance account facility is becoming redundant.
Rajiv Magal
Halekere Village (Karnataka)