Dangers of FDRI

If the proposed Financial Resolution and Deposit Insurance (FRDI) Bill becomes an Act, the ‘bail-in’ clause may change the relationship between the customer and the bank. It would empower to cancel the liability owned by the bank or change the form of an existing liability to another security. It means that the customer’s savings bank account of, say, Rs10 lakh, can be reduced to 1 lakh, which is mandatory by law, or the bank may convert the savings a/c balance of Rs 10 lakh to a fixed deposit. If the Bill is passed finally, it may not be in the larger interest of depositors to keep their money with banks, and if the depositors do not keep money in the banks, the banks cannot lend money, which, in turn, may jeopardise development.

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ROOP SINGH NEGI, Solan

Big nexus

‘Civilisational crisis and post-human society’ (July 22) challenges the powers that be to seriously give thought to how they can overcome the prevalent hostile sectarianism and apathy to the basic needs of humankind. The present nexus operating among big corporations, unregulated banks and insurance companies must not be allowed to act as custodians of all governance. The reins of economy and the quality of a citizen’s life are in the hands of forces of consumerism and big sharks. The ordinary citizen is overwhelmed with a blitz of data and statistics of government handouts.

LM Sharma, Dharamsala

Crisis of existence

Refer to ‘Civilisational crisis and post-human society’; if humans’ age-old insatiable desire, and politics, for power, beauty and control is now being compounded by mushrooming engineering and throbbing technology, the presence of pristine parameters of culture and civilisation, governance and public good, social understanding and moral values, peace and harmony is sure to suffer departure. The art, aestheticism and essence of being are being replaced with impatience, apathy, materialism and violence, turning the public pathetic and the rulers ruthless.

Abhimanyu Malik, Jind

Crossing the line

Refer to ‘CM Gehlot slams door on Pilot, calls him worthless’ (July 22); the rebellion initiated by Sachin Pilot has grabbed the attention of every leading national daily. Such kind of phenomenon has been observed in MP, Maharashtra, Goa. How can a voter trust such elected representatives who could not be loyal to their party, even though serving it for years and reducing it to a minority government. This shows the strains in our democracy, where a state government comes in danger of being overthrown now and then, under the banner of horse-trading of MLAs.

Jashan Goyal, Bathinda

Drifting apart

The middle ‘Under one roof, but different worlds’ (July 22) conveys a meaningful message that isolation and loneliness are not the only factors for depression and suicide, but also the present lifestyle has added to the sad saga. Increase in the income of the middle class has made it possible for independent rooms and TV for each member of the family. Different routines of grownups, and even kids, are a hurdle for family get-together. Bigger houses have resulted in smaller hearts. Smartphones have added to the distance between family members. Gone are the days when at night, nani used to tell stories to grandchildren, and during winter, all members relished the warmth of angeethi with a soothing session of chit-chat.

VK Anand, Chandigarh

Real life missing

Refer to ‘Under one roof, but different worlds’ (July 22); loneliness has increased more due to factors like nuclear families, social media and smartphone addiction. Traditional activities like outdoor sports and goodwill visits that build friendships and relationships are rare nowadays. We are surrounded more by ‘things we love’ than by ‘persons we love’. Let’s live in a real world with real human beings instead of a virtual world.

Vikramjit Singh, Amritsar

Don’t dread failure

There was a time when a student attaining first division was considered a genius. Nowadays, there is no dearth of students who are found grumbling even on scoring over 90% (‘Not score, aim to make a mark in life’). Although the total percentage is important, it should not be the ultimate goal. Knowledge and wisdom is. Marks can’t judge a student’s intellect, but reflect only his diligence, cramming capacity and luck. Failure is the stepping stone to success. Our faulty education system fails to teach students how to cope with failure. This is the reason why suicide is increasing among students. Parents should have realistic goals and teach their wards that not failure, but low aim is wrong. Teachers should also tell pupils that greatness lies not in never falling, but rising every time.

SUNIL CHOPRA, LUDHIANA

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