The key topic for analysis in our Editorial section in the past week was the recently concluded BRICS summit in New Delhi. Given the differences between the members of the bloc, the Editorial commended the member nations’ effort in coming up with a credible joint declaration. But it also highlights some of the contentious issues facing the bloc and the overweening presence of China.
The high-profile Russian visit to India was another important issue analysed in our Editorial section. The Editorial highlighted the Russian trade fair held in New Delhi and Russian President Vladimir Putin’s strong emphasis on trade, investment and payment issues in his bilateral meeting with Prime Minister Narendra Modi. This important shift away from defence issues was welcomed. On the issue of Russian oil purchases, the Editorial pointed out there was no need for India to be defensive about it.
On the introduction of a Merchant Discount Rate (MDR) on UPI transactions, our Editorial was in favour of this move. The levy will not be onerous on the common folk as person-to-person transactions are exempt anyway. The initiative also has some features that will be beneficial for small merchants, says the Editorial.
In his weekly column, Line&Length, TCA Srinivasa Raghavan talks about the contrasting political systems in Indian and China in the backdrop of the recently concluded BRICS summit. Comparing the two nations makes little sense when China’s political stability comes at the cost of suppression of individual freedoms and India’s economic stability comes at the cost of suppressing economic freedoms. But the key question, Srinivasa Raghavan says, rests on systemic stability.
In an article titled ‘Dollar deluge: options for liquidity management’, Barendra Kumar Bhoi and Vani Nair discuss the various trade-offs involved in the absorption of large surplus. The choice of instrument must depend on the one that is easier to absorb, argue the writers.
On the recent spike in rice prices in Tamil Nadu, A Narayanamoorthy says that more than monsoon deficit and El Nino, it is the years of policy neglect of agriculture in that State that is to be blamed. The TN government must take urgent steps to boost farm output, enhance procurement and irrigation, says Narayanamoorthy.
Here’s our Cartoonist Ravikanth’s take on the world of finance and business:
Published on September 19, 2026
