Apropos the report ‘Management, union still at loggerheads’ (December 3) Toyota Kirloskar, a subsidiary of Toyota Motor Corporation of Japan, and earlier Maruti Suzuki seem unable to understand the modern Indian workers’ ethos and continue to face Industrial relations problems with them. This is surprising because in their home country they are known to be practitioners of best IR practices.
They and some other global companies operating in India have two options: flout the labour codes and cut employee costs by keeping rent seekers happy or follow the same good HR practices as they do in their country at higher wages and higher productivity.
They find it easy to adopt the former cost cutting model because the labour law enforcing personnel are more favourably inclined towards employers than employees. Responsible management facilitates creation of responsive trade unions and both maximise their contribution to fulfill the goals of the organisation.
The Supreme Court stay order not to classify loan accounts as NPAs till further orders has put the Finance Ministry as well as banks in a spot.
When the total NPAs is not ascertained how can the banks work out the provision? Banks are already worried of the probable increase in the quantum of NPAs and now the confusion on the court order has added to their worries. Also the Finance Ministry is not in a position to finalise the capital infusion to the banks. This is to be kept in the central budget which is fast approaching. If the stay is not vacated immediately, it will have huge implications for the banking system, apart from undermining the regulatory mandate of RBI. Hence the apex court should lift the stay immediately and allow banks to do their work for the finalisation of the accounts for the year end.
With reference to the report ‘Traders in Delhi, other States suffer ₹14,000 crore biz loss due to farmers’ protests: CAIT’ (December 22), it was highly frustrating to learn that the ongoing farmers agitation has resulted in loss of business worth ₹14,000 crore for traders in Delhi, Haryana, Rajasthan and Uttar Pradesh. It is not surprising that CAIT has urged the farmer leaders to resolve the issues through dialogue with the Centre and also pleaded with the Supreme Court to hear the matter at the earliest in view of problems faced by traders in Delhi and other States.
While one can sympathise with the protesting farmers, both the Centre and the agitating farmers must also realise the folly of their sticking to their respective guns. Since their continued stand-off is hurting the trading community and also inconveniencing the common man. More importantly, as our ‘rights and responsibilities’ always go hand in hand, so let them genuinely think about ‘others’ too.
With reference to the editorial ‘Nepal in turmoil’, the country is in the throes of constitutional crisis, which is primarily the outcome of long simmering tensions and infighting within the party.
By dissolving Parliament at this critical juncture when top priority for all nations is to combat the pandemic, PM Oli has cast himself in an unflattering light.
Of late he has been out of favour with India due to anti-India comments and cosying up with China.
India ought to keep its counsel and refrain from interfering in Nepal’s affairs by acting as a big brother.
It already has a lot on its plate – the farmers’ issue and border standoff with China.
LETTERS TO THE EDITOR Send your letters by email to firstname.lastname@example.org or by post to ‘Letters to the Editor’, The Hindu Business Line, Kasturi Buildings, 859-860, Anna Salai, Chennai 600002.