Best of BS Opinion: Government must expedite board appointments at PSBs

Today's Opinion wrap tracks RBI's bank board concerns, India's satellite strides, gaps in economic guidance, China's consumption debate, and a memoir on rural farming journeys

Hello and welcome to Best of BS Opinion, our daily wrap of the Opinion Page. 

 

The Reserve Bank of India's (RBI) draft on board governance at kinds of banks suggests that the composition and capacity of bank boards is critical. However, it remains to be seen if banks can fill those positions with the right people. As it is, several public sector banks (PSBs) continue to have vacancies in the top rungs. As our first editorial points out, several lack non-executive chairpersons, while key executive roles remain unfilled for months. Board strength is uneven, and shortages of independent directors, and chartered accountants weaken audit committees. Government delays in appointments have compounded these gaps. Without fully staffed, and competent boards, principle-based regulation may prove ineffective. This shortfall risks impairing governance standards, constraining strategic oversight, and ultimately weakening the performance, and stability of public sector banks.

 

 

GalaxEye’s Mission Drishti highlights India’s emerging aerospace capabilities, as the Bengaluru startup deploys a satellite combining radar, and optical imaging. Today's second editorial notes that this OptoSAR system enables all-weather, day-and-night observation with improved accuracy, addressing persistent limits such as cloud cover. Developed with support from Indian Space Research Organisation, NewSpace India Limited, and IN-SPACe, it reflects a broader policy push. Early global partnerships and government interest underline commercial promise. Crucially, sovereign control over high-resolution data enhances strategic autonomy, while positioning India as a competitive player in global satellite imagery markets.

 

In his 'Raisina Hill' column, AK Bhattacharya argues that India lacks sufficiently frequent, and diverse economic guidance at a time of rising global uncertainty. While the Reserve Bank of India, and the finance ministry provide periodic assessments, these can quickly become outdated amid shocks such as the West Asia conflict. The Monthly Economic Review has improved transparency, but stops short of offering firm projections. The Prime Minister’s Economic Advisory Council and the NITI Aayog, he says, should revive regular macroeconomic reporting. More timely forecasts, and policy assessments would aid decision-making, strengthen debate, and better prepare India’s economy for external turbulence.

 

Arvind Subramanian challenges claims that China’s mercantilist model suppresses household welfare, arguing that such critiques rely on misleading metrics. While consumption’s share of GDP appears low, per capita consumption growth offers a clearer measure of living standards. By this yardstick, Chinese households have seen unprecedented gains, outpacing peers such as Japan, South Korea, and Taiwan over comparable periods. Rapid GDP expansion has offset distributional concerns, lifting absolute consumption even during peak mercantilism. Although the model has raised global concerns and criticism, particularly over imbalances and trade tensions, it cannot fairly be accused of disadvantaging Chinese consumers, whose material progress has been exceptional.

 

In her review, Neha Kirpal examines Two Bandra Girls Buy a Farm: Chaos, Community and Crops in Rural Maharashtra by Arti Dwarkadas, a memoir of leaving Mumbai to build an organic farm. The book traces Dwarkadas’ journey from urban comfort to rural uncertainty, capturing bureaucratic hurdles, ecological learning, and personal growth. Kirpal notes its mix of humour, candour, and practical advice for aspiring farmers, including navigating permits, building community ties, and managing risk. Beyond its anecdotal charm, the narrative reflects on resilience, patience, and the deeper fulfilment of engaging with land and nature.