On Tuesday, India’s central bank launched a pilot program for its virtual currency, allowing a select group of banks to settle secondary-market trades in government securities. Data from Clearing Corp. of India Ltd. shows that 7.38% of the 2027 debt and 7.26% of the 2032 bonds were among the first to be traded using the […]
Reserve bank of India
Yes Bank Disaster Can Serve as a Perfect Example of Why India Needs Crypto
Financial ecosystems worldwide have been in a state of crisis since the Coronavirus outbreak. When this was happening, the Indian financial space was rocked by the news of the bankruptcy of Yes Bank and the subsequent takeover of State Bank of India [SBI]. Some people now believe that Indian crypto proponents can use the Yes […]
Supreme Court of India Lifts the Ban on Banks Facilitating Cryptocurrency Trading
The Supreme Court of India has eventually lifted the curb placed by the Reserve Bank of India (RBI) on digital currencies. On March 4, the prime court in the land struck down RBI’s ban on banks providing financial services to crypto related businesses; describing it as illegal. Moreover, the court verdict was delivered by justices […]
Reserve Bank of India Claims ‘Crypto Is Not Banned, Banks Just Cannot Use It’ Before January 28 Hearing
India has been a major hotbed for cryptocurrency discussions within the South Asian region. The country has repeatedly held a negative stance against digital assets despite several citizens using crypto on a day to day basis. In a new twist to the Indian crypto saga, it has been revealed that the Reserve Bank of India […]