Kamat, BRICS Bank
Sir: The nomination of Kundapur Vaman Kamath, popularly known as KV Kamath to the post of president of the five-nation
BRICS Bank of Brazil, Russia, India, China and South Africa
is a welcome development. He has an audacious track record, having a degree from IIM, Ahmedabad, after having a degree from Karnataka Regional Engineering College. The post of first president was reserved for India. Everyone thought the nominee of the central government will be one with political clout. Kamath’s selection proved them wrong. Kamath has profound experience in the field of new financing structures such as securitization, expanding the scope of financial markets etc. His his stint in the largest private sector bank, ICICI, from 1996-2009 has helped it raise funds of the order of Rs. 67lakh crore. He has long experience with Asian Development Bank (ADB) — from 1986 to 1988. As a development-oriented financier, he will help BRICS go further and help the five-nation members carve a niche for themselves in the global market and get more funds for their infrastructure development. Best of Luck!
Ratikanta Mahapatra, Courtpeta Square, BERHAMPUR
Itishree, inquiry
Sir: At long last, an administrative inquiry has revealed a lot about the Itishree episode. According to the General Administration Department, proper action has not been taken against the officials concerned. Instead of taking the guilty to task, the promotion of one of them was recommended by the cluster resource centre coordinator. No abnormality was pointed out during that period. Question is, how the accused was promoted and reposted? Also, according to the investigation report of the agriculture secretary, serious negligence of two OAS officers was detected. They did not perform their duties properly. Rather, it is due to their negligence that this scenario came about. It is worth watching what action would be taken against such errant officials by the government.
Naresh Chandra Mandal, Prachi Nagar, BHADRAK
Jai Ho Jaya
Sir: The Karnataka high court’s acquittal of former Chief Minister Jayalalithaa and her aides Sasikala, Sudhakaran and Elasvarasi in the Disproportionate Assets (DA) case is bound to effect a major turnaround in Tamil Nadu politics. It would clear the decks for Jayalalithaa to return as CM much to the discomfiture of rival DMK and the Karunanidhi clan. With Jayalalithaa’s acquittal, her disqualification under the Representation of People’s Act (RPA) also stands cancelled. Jai Ho Jaya!
K Ravi, GGP Colony, BHUBANESWAR