The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
Bollywood is taking a break from work to celebrate the Ganpati festival with their friends and family.
Farhan Akhtar invited his family and filmi friends for the special screening of his new film, The Sky Is Pink, in Mumbai.
As households age, they pile up debt, a peculiarity unique to Indians, a Financial Stability and Development Council report has found. Here are the key takeaways.
The Supreme Court on Wednesday asked the Centre to produce before it the file related to the appointment of Election Commissioner Arun Goel, who was appointed on November 19.
'Indian non-bank lenders stand exposed to a deteriorating credit quality environment.' 'Such a deterioration could put at risk the value of NCDs purchased by the mutual funds and expose investors in bond and liquid funds to a risk of capital loss.'
A bunch of CEOs in their mid-30s and early 40s are trying to rectify the scenario where shady lending applications trap hapless borrowers with astronomically high interest rates and even bodily harm if the money was repaid. Anup Roy reports.
They now believe their money will be repaid after completion of the tenure of the instruments they have invested in, says Anup Roy.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
When banks deposit their money with RBI, the central bank offers government securities of equal value. But now, it could be running out of enough securities to offer banks against the overnight deposits.
If RBI has to replace the entire stock of Rs 1,000 and Rs 500 notes with Rs 100 ones, the cost would be more than Rs 10,000 crore.
2018 has been a disappointing and highly volatile year for equity investors.
Just a day before Shabana Azmi met with a road accident on January 18, she was celebrating husband Javed Akhtar's 75th birthday bash with the rest of Bollywood. And it was a full house, as *everyone* came forward to pay their salaams to one of Bollywood's leading writers and poets.
There's a long way to go before human beings are replaced by machines -- in banks at least.
Salman Khan brought in his 54th birthday with a grand party with his family and friends. He cut a cake with his Dabangg 3 team by his side.
'I hope the trend is sustainable and that economic activity accelerates going forward.'
>The BJP's star campaigner could not help even half the number of candidates for whom he campaigned in his aggressive 'Didi-o-Didi' style in Bengal
'RBI is taking all steps to complete the process expeditiously so as to release firm figures at an early date.'
'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
K C Chakrabarty, former deputy governor, RBI, talks to Anup Roy on issues in the new bankruptcy law and rules.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Kingfisher Airlines owed Indian banks Rs 7,000 crore as of January.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
A well-run non-banking company has better margins than a bank, but the objective of setting up Ujjivan was to provide comprehensive financial inclusion, Ujjivan Small Finance Bank MD & CEO Samit Ghosh tells Anup Roy in an interview.
'Some business families would probably have to revert to their core businesses, which the IBC will ensure.'
Friends and colleagues console Vishal Bhardwaj who lost his mother on Sunday.
'When there is unlocking, there is demand revival.' 'This is going to be the main growth engine in this kind of an economic scenario.'
The top court reserved its verdict on a batch of pleas seeking a collegium-like system for the appointment of ECs and the Chief Election Commissioner and asked the parties to file written submission in five days.
'We have 100,000 students going abroad every year.' 'So, we have room for at least 100 universities of very high quality to service those 100,000 students.'
RBI said the outlook for economic growth for 2016-17 has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of banned notes
'A strong foreign exchange reserve is the best safety net against global spillovers.'
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
Anup Roy and Krishna Kant on the challenges the public sector banks face in revitalising themselves
NBFCs are mainly dependent on funding their operation from their own cash flows.
Will demonetisation lead to a rate cut, leading to higher quantum of lending?
What the reserves offer for now is improved import coverage of about 13 months, almost double the 2013 level of less than seven months. And, ammunition to arrest a rapid rupee slide, says Anup Roy.
