Author: Rati Verma

Reliance Home Finance Ltd, entrepreneur Anil Ambani, and three other persons were barred from the securities market by the SEBI on February 11 for reportedly siphoning cash from the firm. Amit Bapna, Ravindra Sudhakar, and Pinkesh R Shah are the other three people.  The people were also barred from “affiliating themselves with any intermediaries registered with Sebi, any listed public business, or acting directors/ promoters of any public company which plans to solicit money from the public until further orders” in a 100-page interim ruling. The injunction was issued against a total of 28 persons and companies in connection with…

A controversy developed in the Indian state of Karnataka in early January 2022, when Muslim students wearing hijab in a junior college were denied access to classrooms. The kids were permitted to enter the campus, but not inside the classrooms. The conflict soon expanded to other universities across Karnataka, between Muslim students who wanted to wear hijab and administrators who said they couldn’t. Early in February 2022, the debate heated up. Some students wearing saffron shawls joined the protests against Muslim women’s demand for the hijab. Just a few months ago, where was the “hijab issue”? Why has it all…

Virtual cryptocurrency payment mechanism does not rely on financial institutions for transaction verification. It’s a peer-to-peer system that allows anybody to make and receive money from almost anywhere. However, other hazards are associated with its decentralized architecture, which the RBI governor warns shareholders about. On Thursday, the Reserve Bank of India reaffirmed its position on cryptocurrencies, stating that the digital asset poses a significant danger to macroeconomic and financial stability. Shaktikanta Das, the governor of the Reserve Bank of India, has advised cryptocurrency traders that they are investing at their own risk. They must also keep in mind that such…

The non-fungible tokens (NFTs) community claims that the government is mistreating them by lumping them in the newly announced digital asset tax scheme with cryptocurrencies. NFTs are digital commodities, not cash like cryptocurrency, according to industry members; hence they must be taxed individually. Because the bulk of Indian NFT purchasers invests primarily between Rs 10,000 and Rs 40,000, the NFT businesses believe that a 30% tax is too excessive for an industry that is still in its infancy. With the inherent volatility within an asset class, the high tax rate has become an additional source of suffering. For NFT purchasers,…

Nirmala Sitharaman, the Finance Minister, stated that the RBI will issue a CBDC soon. In the next financial year, the digital rupee is slated to make its appearance. According to analysts, the RBI may choose a centralized service because any blockchain-based infrastructure is unlikely to handle millions of transactions each hour. If the legal tender output does not grow further, monetary management expenditures might be lowered by hundreds of crores of rupees, as of the most recent statistics. CBDC (Central Bank Digital Cash) will be a legal tender, a reimagined form of physical currency that will eventually lower currency management…