"Virtual currencies, also variously referred to as crypto currencies and crypto assets, raise concerns of consumer protection, market integrity and money laundering, among others," RBI said.
The government has also demanded information on vulnerability exploited by attackers and modus operandi of the attack, and sought details of remedial measures taken by Twitter to mitigate the impact of the hacking incident.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
The cryptocurrency industry on Wednesday urged the government to take a nuanced approach towards regulating crypto assets in India and asked investors in the country to remain calm and not arrive at a rushed conclusion, a day after the government listed for introduction a Bill to ban all such cryptocurrencies, with some exceptions.
Like software-as-a-service (SaaS), CaaS has emerged as a well-orchestrated ecosystem for cybercriminals.
'Any entrepreneur who wants to create companies on blockchain will have to move outside India.' 'A ban will also wipe out the entire asset investing class that has built up in India.'
Do you suspect that your partner is cheating on you and want to find out the truth by installing spyware on their phone? Or, perhaps you are a student who wants to get out of an online classroom so you can play an online game with friends? How about some Zoom raiding for a mere Rs 50-100? Or, are you a person who wishes to hack into someone's phone or laptop, and steal their financial details? Crimeware-as-a-Service (CaaS) allows you to do all this and more.
They will not be followed by analysts and no fund manager can buy such small companies with low trading liquidity.
Large companies, those that are talked about in the media and tracked on social media, have already been discovered. They won't lead to extraordinary gains, Debashish Basu points out.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
Modi cautioning that cryptocurrency can spoil the youth.
Investors continue to back-up equity mutual funds in June as such schemes attracted a net inflow of Rs 15,498 crore on strong flows from systematic investment plans despite volatility in the stock market and relentless selling by Foreign Portfolio Investors (FPIs). This also marked the 16th straight month of positive inflow in equity schemes. Inflows into equity mutual funds in June was lower compared to the net inflow of Rs 18,529 crore seen in May, data from the Association of Mutual Funds in India (AMFI) showed on Friday.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
The government is considering blocking internet protocol (IP) addresses of companies/exchanges on which trading in cryptocurrencies is happening, said a source in the know. Two months ago, the government had said it intended to bring a Bill to ban private cryptocurrencies and introduce India's own digital currency in line with what China and other countries had done. This move is part of that. The government had also proposed to promote technology like blockchain. Industry, however, says banning decentralised currencies like bitcoin and ethereum is not possible.
The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta.
The announcement came late Monday evening - and broke the internet. Elon Musk, the world's richest man, had bought microblogging site Twitter for a neat $44 billion. The little blue bird, which is known to take on many avatars depending on the mood, leanings and interests of who it is chirping for, went into overdrive. While some Twitter users flooded the site with memes and humorous takes on the move, the deal also had a fair share of critics.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
IIM-A will be offering six programmes that are blended or a mix of online and offline.
'For someone who wants to invest for the future or his family, diversification is necessary.' 'Diversify across asset classes -- equities, gold, real estate, fixed income, commodities, and even cryptocurrency.'
Infosys said it is in discussion with over 10 institutions globally for deploying the solution
Since 2014, many of Mohan Bhagwat's speeches have acted as cues for government policy.
Jim Rogers' decision not to invest now is not India-specific, but has to do with the problems relating to how the major global economies are shaping up.
'A key trend that one should expect to see is tonnes of failures.' 'Several blockchain-focused companies will fail.'
Jim Rogers, chairman of Rogers Holdings, tells Puneet Wadhwa that the US bond market that hit bottom in 1981 and has been in a bull-run since then, is coming to an end.
Ritu Jha/Rediff.com reports from California on the largest TieCon ever.
As economic policy making moves from pragmatism to populism, the bulls begin to make way for cautious optimists.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
Think organic food, affordable homes, artificial intelligence, suggests Prof Manmeet Barve.
'As the interest rates rise, people are going to say why should I be taking big risks when I can get 4 to 5 per cent in a bank account.' 'So, I think you have to change your thinking.' 'You need to look at the balance sheet, look at dividends.' 'These issues that have been ignored.'
Vir Das' commencement address to graduates of Knox College is the best advice you'll read today.
