Help banks recover debts

All banks face the bad loans problem. All efforts to recover sticky loans have failed, be it the formation of Debt Recovery Tribunal (DRT), the Asset Reconstruction Companies, the SARFAESI Act 2002, the asset recovery branches of banks themselves. One of the major hurdles to this is the Limitation Act. The government should amend this Act. Now, limitation period is only 3 years. The act be amended to make bank loan documents valid/enforceable for recovery till the entire loan with interest, charges and costs is repaid. Another issue is that the high courts do not recognise the Recovery Certificate (decree) issued by the DRT against loan defaulters and do not accept insolvency petition of banks based on these. In the interest of helping banks to recover bad loans, these two issues need to be addressed immediately.

Sudhir Keshav Bhave

Mumbai

Modi?s Pak stance

BJP has had a hawkish view on Indo-Pak relations for long. It orchestrated this stance very vociferously during the UPA rule. This was reflected in Modi?s election campaign as well. Then we had Modi dramatically inviting the Pak PM for his swearing-in with an elan that had the touches of a Vajapayee. But then at the first show of the usual Pak intransigence, we see a PM bulldozed by party hardliners. Political nuancing on the threshold of a series of assembly elections has managed to take the upper hand. It is surprising that the much built-up halo around Modi as being his own man should dim so easily and in such quick time. The Vajapayee shoe was known to be big but that Modi should find it very large to fit into and that too within a couple of months must have disappointed him even more than it has the nation.

Janaki Narayanan

Ghaziabad

Make things clear

It may be true that ?Govt?s achievements fall short of expectations? (FE, August 14). The government has introduced many reforms. But they are either corrections of the previous regime or on the same lines. Does it mean that there is no other better way or that it is the right way? So for the people who expected a complete change, it was a disappointment. Perhaps they were expecting a ?Gujarat model? of which Modi was stressing in his election campaigns. Then what is the hurdle that he is facing now? He has to make things clear.

Jacob Sahayam

Thiruvananthapuram

VAT?s off

Apropos of the edit ?Vat a take-off? (FE, August 20), the move to slash the VAT on ATF is a welcome move. However, this still doesn?t mean that small town India is going to benefit, at least immediately. For this to translate into greater connectivity for small towns, the proper airport infrastructure has to be in place. Besides, it has to be seen if small town India has the passenger volume to match up to the airlines? expectations.

Namita Sen

Kolkata