LETTERS TO THE EDITOR 18/08/2020

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Police Unable Prevent Rave Parties During Covid

Despite the scuffle at a party held in Arpora earlier this month, where reportedly only the caretaker of the private villa was booked, presumably due to the influence of the participants, another rave party  was held with 3 women foreign nationals, 23 including a former Bollywood actor participants and drugs worth 9 lakhs were ceased at Vagator! Such illegal activity is common knowledge to almost all residents and police in the Calangute belt since long back. The present DGP M K Meena says police are monitoring, took immediate action as soon as they received information etc. The question is why has not these drug related parties been stamped out to date? Why is there no deterrent action with intelligence, police informers etc to prevent this, especially during Covid rules in force? Politicians keep blaming each other and influential people, the law and the police are unable to stop this menace in public interest. Says a lot for present state of affairs!

John Eric Gomes, Porvorim

Bank Of Maharashtra Writes Off Rupees 7000 cr For Loans

It refers to Bank of Maharashtra writing off loans total worth rupees 7000 crore in last four years for individual loan-amount of rupees 100 crore or more in order to brighten its balance-sheet by reducing non-performing-assets NPAs. Clarification of the Bank that such writing off does not affect recovery process is meaningless because just rupees 253 crore has been recovered in last ten years from the year 2011 to 2020. Our banking system provides all such facilities of writing off loans only to big loan-defaulters with harassing activities aimed at small loan-amounts by middle-income people. Present corona-crisis has proved to be a big blow for middle-income loan-takers of smaller amounts who practically require waiving off small loans of banks and NBFCs where EMIs or interest could not be received after December 31, 2019 in the manner farmer-loans are frequently waived off. Reserve Bank of India should also devise a liberal One-Time-Settlement scheme for small loans given by all banks and NBFCs rather than mental-torture of loan-takers for not paying loans, EMIs or interest because ultimately these will have to be written off because of heavy business-loss in corona-crisis. Such loan-waiver and OTS schemes are rather required more rather than providing extra loans as part of rupees 20 lakh crore economic package relief. Extra loans under relief-package are not likely to be easily recovered till four-year period because of lack of business-activities.

SUBHASH C AGRAWAL, New Delhi