This refers to ‘Uplifting women farmers’ (February 12). While it is necessary to extend land-owning rights to women farmers, there is a larger group of women cultivators/workers who work on others’ farms for a living. What compels attention is the poor quality of life — their day starts much earlier in the morning to prepare food for the family (if available), work in farms and return home to serve the family till late night. An estimated 52-75 per cent of Indian women engaged in agriculture are illiterate. There is wage disparity between male and female. Many women participate in agricultural work as unpaid subsistence labour. The silver lining is that the new Indian Labour Codes aim to empower landless women labourers through guaranteed minimum wages, equal pay and enhanced social security.

YG Chouksey

Pune

Ensuring durable liquidity

Apropos, ‘CRR can be used to provide liquidity’ (February 12). India’s monetary challenge today is not a lack of instruments but the discipline in their use. With growth uneven and inflation sticky, the RBI must resist pseudo easing via surplus liquidity. Daily tools — repo, VRR, and SDF — must anchor short-term rates firmly, within the bandwidth. Durable liquidity is better attained through forex swaps and maturity-tuning and open market operations. Outright bond purchases may open up a runaway narrative of fiscal overreach. In the context of these uncertain times, CRR tends to remain a rough tool, to be kept for an excess credit regime. The RBI needs to steer deftly in separating rate signalling, yield-curve management, and managing the forex rate without affecting the G-sec market. The crux lies in aiming at precision over discretion.

R Narayanan

Navi Mumbai

Banking ethics

This refers to ‘Ethics in banking should not be treated as a soft theme: RBI Deputy Governor’ (February 12). The Deputy Governor, in his speech, has highlighted transparency in communication and the need to move beyond mere box-ticking compliance. While transparency is essential, ethical standards must also extend to marketing practices. Loan customers are often strongly persuaded to purchase life or medical insurance policies. Though such products may have merit, the choice should remain entirely voluntary and free from any pressure. Ethics should similarly guide the handling of customer grievances.

R Mohan

Kumbakonam, TN

Published on February 12, 2026