Letters to the editor dated April 30, 2021

‘India to import 4,50,000 vials of Remdesivir’ (April 30) speaks volumes about the gravity of the Covid situation across the country. While the said imports by HLL Lifecare Ltd, a government company, is likely to arrive soon, it’s incumbent upon the government to keep a close watch on all those currently engaged in hoarding and black-marketing of such life-saving drugs.

More importantly, the extreme shortage of medical oxygen has worsened the situation. In fact, the situation calls for the imposition of a national medical emergency. There is no room for any complacency on this count.

Bengaluru

This refers to ‘Making CSR count’ (April 30). So pathetic is the healthcare infrastructure that the government must take whatever help that comes from Indian Inc. If listed companies have a significant corpus of ₹10,000 crore under CSR, clubbing the same with the contributions of non-listed companies will add up to a substantial sum. The government must leverage this and, in return, provide tax relief for Indian Inc so that they can remain motivated to contribute further. The Ministry of Corporate affairs will have to show a more flexible approach.

Noida

This is the right time for companies to make optimum use of funds earmarked under CSR. The pandemic has thrown millions of people out of jobs and many people are finding it difficult to make their both ends meet. To implement CSR, a company must choose a leader who not only has expertise (not necessarily academic) but also an empathetic attitude. This job cannot be assigned to the HR Department as part of its routine work. The companies can call on retired staff who have shown exemplary leadership and organisational talent while discharging their duties. Also, NGOs can be asked to guide the CSR boards.

Thane

IBA Chief Sunil Mehta’s views on ‘IT investments by banks’ (April, 30) are unexceptional. Grudging on IT spend is akin to being ‘penny wise and pound foolish’. Even recently, a private bank was penalised by the RBI for frequent outages in its Net and mobile banking services. Besides inconveniencing customers, such incidents leave the banks concerned open to the threat of cyber attacks.

As for the IT infrastructure in public sector banks, the less said the better. In 1991, the ten private banks that were issued licences commenced their operations fully computerised from day one, even as the PSB unions were resisting the same. However, seeing the writing on the wall, they signed an agreement for a phased computerisation of their branches, in 1993. Even today, customers patiently waiting at the counters, on Monday mornings, for the systems to come up, after the weekend rest, is a common sight. Another familiar sight is the counters overflowing with files.

Banks that don’t adapt to technology run the risk of being edged out of the race sooner than later.

Chennai

Apropos ‘Friedman doctrine’s unintended consequence’ (April 30), charting the growth of free market capitalism starting from the Friedman era of 1970 and culminating in the Rise of China into a global trading leviathan was insightful. The fall of communism in Russia did not mark the triumph of free-market capitalism. Chinese state officials watched the Soviet collapse and Russia’s upheaval as if their survival depended on it, and they learned some important lessons.

They recognised that if the Chinese Communist Party failed to generate prosperity for the Chinese people, its days were numbered. This gave rise to an utopian communist idea of state capitalism. Hence Friedman’s most unintended consequence was not just rise of China, but also the rise of institutions like Sovereign Wealth Funds and privately owned national champions.

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