Best of BS Opinion: Recurring pain, China's housing conundrum, and more

Here are the top BS Opinion articles of the day

Here are the best of Business Standard's opinion pieces for Tuesday.

The Reserve Bank of India’s (RBI’s) new rules controlling recurring payments on credit or debit cards went into force on October 1. It is unfortunate that, in spite of a lengthy period for discussion of these rules, the day was still marked by considerable chaos. Many auto-debits failed for customers and smaller enterprises that depend upon online payments sharply revised their revenue estimates downward. In this context, our lead editorial notes that having observed the problems caused by the new rules, the RBI must swiftly respond, and work out how to make them more palatable for smaller enterprises and for consumers. Much is still unclear about how banks and other payment gateways can work harder to make things easier for customers. Read here

Historically, promoters with low shareholding in India have often managed to retain control with the help of a sympathetic board, or the backing of politicians, writes Prosenjit Datta

As impressive as China has been at building roads, bridges, and houses, its real estate construction boom is coming to an end, and there is no reason to expect a smooth landing, writes Kenneth Rogoff

QUOTE OF THE DAY

“India has administered the first dose of Covid-19 vaccine on 70 per cent of the population”

 

Mansukh Mandaviya