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Sir,
Apropos to the report “MUDA’s Group Housing at Gokulam opposed” (SOM dated 21st April), we totally agree with Venkatachala, former Corporator and Madhu of City Co-operative Bank in opposing the proposed construction of cluster houses in Gokulam 3rd Stage.
The field around the MysoreOne Centre is a beautiful open space only one-of-its-kind in this layout. From the time the layout was formed in the early 70s, this has remained as an open field providing sufficient lung space.
Before the onset of COVID 19 children were seen in plenty playing various sports like Football, Cricket, Badminton etc. Even now a few of them are still playing.
Sixty years ago, in August 1960, two large banks the Lakshmi Commercial Bank and the Palai Central Bank of Kerala failed in quick succession. The banking sector had no regulator then. The then finance minister Morarji Desai was having a gruelling time convincing the RBI to regulate the thousand-odd banks. The central bank refused to do so because it had limited staff and resources and did not have the legal mandate to regulate banks.
The finance ministry had already advised these banks to voluntarily consolidate two years ago, but there were hardly any mergers or acquisitions. Meanwhile, banks were falling like ninepins. Desai, who had been advocating self-regulation, was forced to make consolidation and amalgamation compulsory so that only strong banks that met the liquidity norms would be allowed to function.