This refers to ‘Spectrum redefined’ (February 20). The Supreme Court’s conclusion that spectrum is not an asset of the corporate debtor capable of restructuring under IBC is a welcome judgment. This landmark ruling clarifies the constitutional status of spectrum and significantly limits the reach of the IBC in sectors involving natural resources. It preserves the sovereign regulatory control over telecom licences. This judgment will ensure that statutory dues linked to natural resource allocation cannot be diluted through insolvency resolution. This ruling is a major setback for financial creditors such as Aircel which sought to monetise spectrum rights to recover loans.

Bal Govind

Noida

The spin-offs of freebies

This refers to ‘Freebies, and their many hazards’ (February 20). It has become fashionable to label every welfare measure in Tamil Nadu as a “freebie”. In a consumption driven State, money placed directly in the hands of women and lower income families does not vanish, but circulates. It supports small traders and local MSMEs. This is not reckless spending, rather a calibrated demand support. More importantly, governance is not merely about balancing books, it is also about balancing society. Inclusive policies that bring women and vulnerable communities into the economic mainstream strengthen both dignity and productivity. Tamil Nadu’s steady industrial and revenue performance suggests that social justice and economic growth are not contradictions, but complements.

Leo H

Tirunelveli, TN

Ethical banking

Apropos ‘Ethics in banking is not just about compliance’ (February 20), in the digital era, both system driven ethics and individual ethics influence institutional ethics. While system driven ethics is centralised and catalysed by several policies, individual ethics plays a greater role in winning the confidence and trust of customers. Frontline staff should understand the necessity and urgency of customers’ requests and address the same in a timely manner. A patient listening and polite response would do wonders in winning over customers.

RV Baskaran

Pune

Published on February 20, 2026