Best of BS Opinion: Governance gaps, flaws in a multipurpose CBAM, and more

Here is the best of Business Standard's opinion pieces for today

Despite the best regulatory intent in banking, India faces significant risks because of the domination of public-sector banks (PSBs). Six PSBs, for example, do not have a non-executive chairman. In some cases, the position has been lying vacant for over two years. In this context, our lead editorial notes that, although the issue of government interference in lending decisions seems to have been addressed, the present National Democratic Alliance government has not been able to tackle the legacy problem of delayed appointments to key positions in PSBs. From both operational and governance standpoints, it is important that key positions are not allowed to remain vacant. Read here

In other views:

EU’s tax on carbon-intensive imports contradicts multilateral climate and trade norms, writes Amita Batra. Read here

Emerging economies must take stronger action to address risk mispricing, a problem at the heart of financing economic transformation, writes Rathin Roy. Read here

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“Our fight against inflation is not yet over. We need to undertake forward-looking assessment of the evolving inflation-growth outlook and stand ready to act, if situation so warrants.”

 

Reserve Bank of India Governor Shaktikanta Das (Minutes of the Monetary Policy Committee Meeting, June 6 to 8, 2023)