Short-term capital gains tax of 30% is likely to be levied if bitcoin is held for less than three years and 20% if held for longer than 36 months.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
Even if RBI partially replaces the stock of the high value notes, RBI will have to incur thousands of crores of rupees in cost, say economists.
Craig Wright identified himself as Satoshi Nakamato, the pseudonym he says he created when launching the currency in 2009.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
RBI would get the comfort of meeting its 8 per cent January Consumer Price Index-based inflation target, BofA-ML said, adding that 'we expect the RBI to cut 75 bp in 2015 from February with inflation on course to 6 per cent in January 2016'.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
Ahmedabad-based crypto firm Kali Digital Ecosystems' plea against the ban will be heard on July 20.
There are already some signs of stress in this market.
Full capital convertibility means a foreign investor can repatriate his money into his own local currency at will.
We need a change in mindset, says the RBI Governor.
Nifty ends above 8,400; TCS, HDFC surge 2%, Bajaj Auto dips 2%.
A two-year extension at the helm of the RBI still looks a real possibility
A small percentage of asset allocation to bitcoin seems like a reasonable gamble, as it could be a major gainer in an uncertain global environment, says Devangshu Datta.
RBI is likely to have reached broadly similar conclusions since it did cut rates, presumably to stimulate activity.
Declaring demonetisation a complete failure may turn out to be hasty, argues economist Ashok K Lahiri.
India's macroeconomic situation is improving fast and the country's GDP growth will turn positive in the third and fourth quarters of the current financial year, eminent economist Ashima Goyal said on Sunday. Goyal in an interview to PTI said the management of the COVID-19 pandemic and gradual unlocks announced by the government have helped in avoiding multiple COVID-19 peaks. The growth estimates by different agencies are being continuously revised, she said.
A glance back at some important events that occurred in 2018.
Jaitley has made it a habit of giving soundbytes to the media like his predecessors on why RBI should cut interest rates
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
Opposition members in the Lok Sabha on Monday blamed the Bharatiya Janata Party-led central government's policies for the price rise and accused it of ignoring the plight of common people, saying kitchens will soon "see a lockdown" if the Centre does not take corrective measures.
CRR to remain unchanged at 4.00 pc this fiscal
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
Pharma major Lupin and mortgage lender HDFC were the top losers.
While cancelling the legal tender of 500 and 1,000 notes on November 8, the government had allowed them to be used for utility bill payments for the first 72 hours. This deadline was extended repeatedly and the last extension was granted till December 15.
Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
Cash withdrawal limits likely to continue
He noted that the Rupee has firmed recently but cautioned that the currency should not lose its competitiveness in global trade.
Because of Rajan's policies, the banking system has mustered enough courage to disclose their toxic assets
'India needs to adopt a more proactive policy of triggering exports to China.'
China, it said, is projected to grow at 6.6 per cent in the current year which will moderate to 6.4 per cent next year.
SBI's gross NPA figures have shown a decline for three consecutive quarters.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
Earnings growth in the early-bird sample has been driven by banks and iron & steel companies.
Market participants are now awaiting Thursday's meeting of the European Central Bank
Given the volatility of the global marketplace, India is already on a strong wicket and well poised to provide a lucrative option to foreign investors.
In these times of global uncertainty, be cautious in selecting the right market and fund.
About Rs 15 lakh crore of high-value notes were scrapped, against which RBI has managed to supply roughly Rs 4 lakh crore worth of notes in the market so far, Anup Roy/Business Standard reports from Mumbai.
