Tag: Central Bank Digital Currency
RBI backs crypto containment and keeps ban on table, officials tell house panel
New Delhi: Top officials of Reserve Bank of India (RBI), in a submission to a parliamentary panel, backed a containment strategy leaning towards prohibition, recommending…
India’s digital currency push targets its leaky welfare system
PHULENAGAR/MUMBAI: In the western Indian village of Phulenagar, Samadhan Sonawane set up a drip irrigation system on his small onion farm using digital currency issued…
Draft Income Tax Rules raises threshold for quoting PAN for cash deposits, car purchase, others
Draft Income Tax Rules have proposed significantly raising transaction limits for quoting of PAN for cash deposits/withdrawal in banks, purchase of motor vehicles and property,…
Government tightens tax framework for foreign digital entities
New Delhi: India has proposed to tighten the tax and reporting framework for the digital entities by sharpening the definition of significant economic presence (SEP),…
Unbacked cryptos have no value, stablecoins risk policy sovereignty: RBI DG
The RBI Deputy Governor said stablecoins could pose a risk to emerging economies like India and do not serve a purpose that cannot be better…