Apropos of ‘Perilous provocation’, Pelosi’s visit has heightened tensions and further frayed the US-China relationship. Given the fact that the US and Taiwan have maintained cordial ties for years, Congressional visits have been a regular feature. China’s reaction is unwarranted. However, Chinese military coercion of Taiwan cannot be ruled out as Beijing has threatened trade and naval retaliation. Beijing has also been resentful of the growing activities of Quad in the Indo-Pacific region. New Delhi must prioritise its strategic interest and ensure that the US does not use it to settle scores with China.
Gregory Fernandes, Mumbai
No room for misadventure
China had warned the US of dire consequences before House of Representatives Speaker Nancy Pelosi’s visit to Taiwan, but she went ahead in the name of preserving democracy there. Both US and China are bullying each other. Earlier in May, during the Quad Summit in Japan, Chinese and Russian jets carried out joint flights over the Sea of Japan and South China Sea. Both sides should restrict these misadventures, otherwise the world will be forced to face the catastrophe of a third world war.
Virender Sharma, Shimla
Refer to ‘Loan write-offs’, every economic policy decision is a process to evaluate the trade-offs, and loan write-offs are not an exception. Banks undertake this exercise to clean their balance-sheet. The flipside is that these loans are already covered in NPAs and borrowers have stopped payments of interest and the principal. This borrowing will sooner or later be waived. This exercise, from a bank’s point of view, is recognition of loss of investment in loans extended. Money for extending loans comes from the depositors or the government. The banks have started charging for every small service, like the withdrawal of your own money more than a specified number from ATMs. This is how a favour to a friendly industrialist is financed. A big loss of the bank is shared in small amounts by all customers. This is a bad bargain.
Nirmal Singh, Patiala
Legal scrutiny must
It is shocking that banks have written off loans worth Rs 10 lakh crore despite the fact that the country is reeling under a crunch. Big defaulters are beneficiaries of this largesse, whereas small borrowers are at the receiving end. As an arbitrator, I had a chance to deal with bank recovery cases in which small loans ranging from Rs 5-10 lakh were involved. More often than not, mortgaged vehicles were forcefully taken away and auctioned before the case reached its logical end. Legal scrutiny of waivers to make the system transparent is needed.
Maheshwer Sharma, by mail
The editorial ‘Loan write-offs’ brings to the fore the blow to the financial sector, especially public sector banks. Indifference to the Rs 10 lakh crore write-off shows the real ‘morale’ of India being fed on propaganda in the name of patriotism, tallest statues, stalwarts of the freedom struggle and ancient Indian glory. Falling value of rupee, inflation, polluted environment, unemployment, etc., keep the general public embroiled, thereby providing opportunities to swindlers like wilful bank defaulters to steal public money artfully. This has exposed the vulnerabilities of the banking system. A strong nation does not brook such public loot. The government has shown systematic weakness that raises suspicion in the public mind about the real nature of our contemporary politics.
Jagvinder Singh Brar, Patiala
Refer to ‘No compromise on security’; India is facing multiple challenges at the LAC, LoC and IB. No less is the threat perception in the sea and hinterland. Dropping of arms, ammunition, explosives and narco substances by drones from across the border has complicated the security scenario. The need is to identify the flashpoints and constitute integrated theatre commands. There is no alternative to the physical domination of the area of responsibility. Soldiers must be adequately equipped with basic necessities to perform their duties efficiently in the most difficult terrain.
Subhash Vaid, New Delhi
Develop border areas
Apropos of ‘No compromise on security’, our land borders are with nations who challenge us without provocation. Our borders should be manned properly day and night. Strengthening the borders with infrastructure should be given priority. For a few years, revenue should be spent on border areas instead of the hinterland for easy commerce. Rail track and roads should be given preference over managing borders by air. In case of war, air support alone will not help in the present missile and drone era.
Ashok Kumar Goel, Chandigarh
Letters to the Editor, typed in double space, should not exceed the 200-word limit. These should be cogently written and can be sent by e-mail to: Letters@tribunemail.com
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