This refers to ‘Bond blues’ (October 29). The hardening of bond yields reflects the double whammy facing the RBI from global and domestic factors. Persistent inflation and elevated debt-to-GDP ratios in the US and Europe have kept global bond markets under pressure. India, in turn, faces inflationary risks from the El Niño effect and rising crude oil prices, which could push up food, fuel and other input costs. Liquidity conditions arising from the special FCNR(B) mobilisation drive have added to the RBI’s challenges, while OMO sales can exert upward pressure on bond yields. This could increase the government’s borrowing costs in H2 FY27.

Srinivasan Velamur

Chennai

CBAM deal

This refers to ‘India pushes for more talks with UK on CBAM rules ahead of Jan 1 rollout’ (October 29). The UK had earlier recognised India’s Carbon Credit Trading Scheme as a qualifying scheme. The mechanism looks simple. If an Indian producer has already paid a verified carbon price for the five items manufactured in India which attract CBAM charge, namely cement, aluminium, steel, fertilizer and hydrogen, the UK importer can claim credit or relief under UK’s CBAM. The difference between the carbon price recognised as relief and the actual CBAM charge shall alone be payable by the Indian exporter. India hopes to get fair deal on CBAM.

RV Baskaran

Pune

Threat to journalism

The Digital News Publishers Association’s (DNPA’s) warning that the Digital Personal Data Protection Act, 2023 will “shut down news rooms” deserves serious attention. Requiring prior consent and compelled erasure for journalistic work is unworkable and strikes at Article 19(1)(a). Journalism is already regulated by the Press Council. The Act’s failure to exempt bona fide journalistic activity contradicts the Puttaswamy judgment. The CJI’s call to balance privacy with public’s right to information is welcome.

Shanti Prasad

Bengaluru

Published on October 29, 2026