Best of BS Opinion: Protecting social media users, checking regulators

Here's a selection of Business Standard opinion pieces for the day

How protecting the privacy of social media users helps free speech and why regulators must obey the rulings of higher courts. Pallav Nayak sums up the views.

Regulatory curbs on Punjab & Maharashtra Co-operative Bank have brought attention to the troubles of such lenders. Cooperative banks played an important role once, but due to a lack of capital and expertise they are struggling to compete with other financial institutions, says our first edit.

Every mass movement of the last decade, from the first Arab Spring protests in Tunisia, to the recent protests in Hong Kong, has been enabled by social media. All this would not have been possible without the capacity of social media users to remain anonymous and yet be heard, says our second edit.

The cut in the corporate tax rate is seen as the boldest of the range of measures announced by the government. An internationally competitive corporate tax rate is expected to boost investment, both foreign and domestic. However, there is little to suggest that FDI has been held back by high tax rate, writes T T Ram Mohan.

When regulators violate the interpretation laid down by superior courts, it creates fear of the law enforcer. It is only when state agencies see value in the rule of law that they would be able to attract real investment into business, writes Somasekhar Sundaresan.

QUOTE OF THE DAY

“India is waiting for you. India is the only destination for you.” 

Prime Minister Narendra Modi to political and business leaders in New York.