Letters to the Editor dated June 2, 2025

Reference ‘Lenders push back on RBI’s proposed gold loan norms’ (June 2), RBI’s norms are welcome since they could move the ‘gold economy’ towards a formal structure. Loans must only be given against paper holdings/certificates certifying weight and purity.

This will encourage more gold holdings to move from physical to certificate form and benefit the country. In this respect the gold monetisation scheme could be brought back. Gold being very liquid is a myth since purity is often questioned by the buying jeweller and the selling customer gets less value. RBI’s move must be supported by one and all.

V Vijaykumar

Pune

A real gem of a PM

This refers to “Celebrating an unsung hero” (Book Review, June 2). Among all Congress party’s Prime Ministers, Lal Bahadur Shastri is one with a blemishless record about personal and professional probity, simplicity, humility and steadfastness in rendering selfless service to the nation.

He was an authentic leader, he walked the talk. He did not amass riches nor did he push his sons to occupy high positions. He set high standards for himself as exemplified by his resignation taking responsibility for a railway accident as minister in charge.

It is time for the digital generation of India to learn about such builders of independent India who diligently changed its course without seeking the limelight. They are the role models India needs today.

YG Chouksey

Pune

Time for rate pause

This refers to ‘RBI likely to cut repo rate by 25 bps on June 6 amid easing inflation’ (June 2). While the RBI mandated MPC having already cut the repo rate twice by 25 bps each (from 6.50 per cent to 6 per cent), but it may be high time for a “pause” by the MPC at its scheduled June 6 meet. Why rush with third rate cut in quick succession? What about the extant global market scenario which continues to be highly fluid amid Trump’s tariff war, with various key sectors of the Indian economy getting ‘adversely’ affected too?

The benign inflation scenario must not make policymakers complacent.

SK Gupta

New Delhi

Published on June 2, 2025

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