Editor,
Apropos the report, “ A family’s pilgrimage of love to the temple of music (ST June 26, 2017), I was surprised to know of the coverage about our short but memorable visit to Shillong last week and then to read it in the online edition of The Shillong Times. The Shillong Chamber Choir goes beyond music and while there is no doubt that they are blessed with musical genius, they are wonderful people – full of warmth and love. My family and I plan to repeat this “pilgrimage” often. The Shillong Chamber Choir is not just a gift to our nation, but they are clearly messengers of peace and love wherever they travel.
Shillong has a treasure for the world to enjoy. I sure will be back for more.
Yours etc.,
Nagaraj Prasadh
Sukhumvit Soi 13
Bangkok 10110
Thailand
Traffic snarls – serious cause of concern
Editor,
Through the esteemed column of your newspaper, I want to draw the attention of the concerned authorities towards the traffic problem in our city.
It’s a fact that the traffic problem in the city is increasing by the day and is poses grave danger to the lives of citizens. The daily commute on the roads of Shillong is becoming longer and more grueling day by day. This depicts the failure of public transportations infrastructure to keep pace with growing development activities in the city. In fact, studies have shown, more than twenty five thousand vehicles are plying almost every day on most of the important corridors of the city, which is more than double compared to the norm numbers. Another major cause is that the city roads are characterized by mixed traffics, which include buses, trucks, maxi taxis, three wheelers, two wheelers and private/personal vehicles. This creates problems for traffic management and leads to delays in movement of traffic.
Now, what should be the role of Government in controlling traffic in the city? To meet this serious crisis, some measures can be taken by the Government like, construction of new roads, foot bridges, widening of existing roads network and most importantly construction of flyovers, and also promoting traffic rules through educations, advertisements and strict enforcement. And, last but not the least encouraging people to walk and cycle.
Yours etc.,
Shyamal Dey,
Shillong – 1
Obsession with fair skin!
Editor,
Your editorial, “India’s fatal flaw” (ST, June 28, 2017) is right in pointing out that we swoon over white skin, so much so, that fairness creams for both women and men are one of the fastest selling products in the market. This is not just because of our “colonial baggage” as has been suggested by your editorial but because of our obsession with white Aryan ancestry. It is because of such obsession that our brothers and sisters from North East in spite of their having fair complexion face racial comments like “Chinky” (ie a person with non-Aryan features) in many parts of our country. Whereas a German even with poor knowledge of English gets our admiration as “Sahib!” It is his Aryan like features (sharp nose as well as white complexion etc.) that attracts our admiration. Such bias in our mindsets helps politicians with a fair complexion and also from North India to score over their counterparts in national politics.
Yours etc.,
Sujit De,
Kolkata
NPA crisis and farmers’ woes
Editor,
The menace of mounting bad loans or Non Performing Assets (NPA) of banks have had a cumulative effect on our GDP resulting in slowing credit flow to industry. Our country needs stable and sound banking system for healthy growth of the economy. A loan account becomes sub-standard and is called NPA, if a borrower does not pay three instalments continuously. The big corporate defaulters often escape easily from the regulator’s scanner despite clarion call by lenders. They have diverted loans taken for specific purposes by using regulatory backlash. And the plight of small farmers is India’s bitter seeds with massive crop failure and farmers’ suicide in the low rainfall region of southern/central India. Both Govt and lenders should come forward to obviate farmers’ need to look at the heavens every season. India’s agriculture sector contributes 16% of GDP but it is a pity that farm produce is even sold below the minimum support price (MSP). The rural distress in difficult situations often prompts states to offer relief to reduction or complete waiver of loans. What we need ia policy for long term effectiveness.
India’s stress assets are nearing 10 lakh crore. Vijay Mallya packed his bags, purchased a flight ticket and fled to London. This would have been difficult in China. The country has toughened restrictions on 60 lakh bank defaulters, barring them from travelling by flights to high speed trains, getting loans and credit cards or even promotions. Can India think about isolating these defaulters through strict regulations? The biggest hindrance to effective operation of Indian lenders’ got choked by ballooning of NPA. To crack down on loan defaulters cabinet cleared a new ordinance to speed up NPA resolution process in a time bound manner; winding up of companies and recovery of secured loans. Amendment of banking regulation act will empower RBI to take action against defaulters under bankruptcy code. RBI recently identified 50 big corporate defaulters amounting to 25% of gross NPA and is planning to issue directions to banks to file for insolvency. The banks are to be given more powers to deal with acquired liquidity during post-demonetisation. Earlier bank took years to recover the assets under SARFAESI Act of 2002. But now it is amended in 2016. RBI also opened loan restructuring scheme to check the menace of NPAs.
If this continues then both NPAs as well as restructured loans of banks may stand at 10% of Gross NPA. And PSU banks are the worst hit. They reported sharp fall on denting profits. Already Rs 1.14 lakh crore of bad loans had been written off by state-owned banks between 2013 and 2015. High provisioning figures further eat away from their profits. The gravity of the problem is such that finance ministry and RBI may consider setting up a ‘bad bank’ to deal with this. There may be one time settlement for big defaulters leading to write- off of NPAs. At the same time pushing more lending to Agriculture sectors, Small and Medium Enterprises (SMEs) will promote start-ups and entrepreneurship programme towards keeping the Indian economy upbeat and then India will flourish. Investing in programmes like watershed project might bring oases in the low rainfall regions that would bring cheers to rural economy and both farmers and banks will reap a good harvest.
Yours etc.
Kamal Baruah
Guwahati