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.
The Enforcement Directorate (ED) has attached assets worth over Rs 757 crore of one of the country's most known multi-level marketing (MLM) and direct-selling companies, Amway India, as part of a money-laundering investigation. The central agency issued a statement on Monday, alleging that the company was perpetrating a "scam" by running a pyramid "fraud" in the guise of direct-selling MLM network. "The entire focus of the company is about propagating how members can become rich by becoming members. There is no focus on the products. "Products are used to masquerade this MLM pyramid fraud as a direct-selling company," the ED alleged.
'For HNIs, shifting economic activities outside India by creating regional hubs for businesses is a better option.'
Till such time that a new governance framework comes into being, the progress of reforms in health, education, land, labour, electricity and agriculture could remain fraught with problems, agitations and delays, observes A K Bhattacharya.
The government's regional connectivity scheme UDAN has witnessed a slow progress of implementation, as not even 50 per cent of the route have been operationalised and the second wave of the pandemic, which started from mid of March 2021, may impact it further going forward, according to a report. Rating agency ICRA in its report on Tuesday said that there is likely to be a further delay of two years in achieving the target of operationalising as many as 100 unserved and underserved airports and starting at least 1,000 RCS routes by 2024. Aimed at enhancing regional connectivity through fiscal support and infrastructure development, the maiden flight under the Ude Desh Ka Aam Nagrik (UDAN) scheme was flagged off by Prime Minister Narendra Modi from Shimla for Delhi on April 27, 2017.
Under the previous quality of service rules, penalty on call drop was Rs 100,000 per violation and could go up to Rs 200,000 in case of third subsequent violation.
Trai's move is seen as a relief for the debt ridden sector and the industry body COAI expects that continuing with six paise mobile call termination charge will not have any impact on consumers as operators have already absorbed this charge in their recently increased mobile call and data rates.
Markets ended lower on Tuesday, snapping a two-day winning streak, as investors turned cautious and booked profit in financials.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
Right now there are about 30 lakh (3 million) subscribers under the Swavalamban scheme.
If it happens, this would mean the largest spectrum auction in terms of amount with over 7,000 Mhz going up for sale across eight bands
Stalling the introduction of better emission standards is based on specious logic, especially in a country that has 13 of the world's most polluted cities.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
TRAI removed network interconnection charges.
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
But there are challenges, observes Tamal Bandyopadhyay.
Telecom subscribers had it good during Rahul Khullar's watch as Telecom Regulatory Authority of India (Trai) chairman.
India will have to deal with the question of whether broadband service providers are 'common carriers', like highways.
Hillary Clinton has proposed measures including new taxes for trading to hold Wall Street accountable.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
Adjusted gross revenue of the industry has grown just 5.3 per cent during the financial year ended March 31
RBL Bank is no Yes Bank. It's not fraught with fraud. It's a story of limitless ambition and greed for growth under a leader who doesn't want to give up, says Tamal Bandyopadhyay.
A crown of thorns awaits the next telecom minister at Sanchar Bhawan as the new incumbent will have to address a host of tricky issues like industry infighting, tariffs and improving financial health of the Rs 2.3 lakh crore industry.
Many banks' profits will take a hit and a few of them could even end up being in the red because of treasury losses, triggered by a sudden spike in government bond yields in the rising interest rate cycle, notes Tamal Bandyopadhyay.
Successive governments focused on altering the clearance processes but largely gave a pass to the second, and essential, element of environmental regulations for monitoring pollution levels and how industries followed conditions laid down for clearances.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
However, the number of renewals has grown by only 0.4 per cent, which means only high value and ticket size renewals are coming.
Every political party loves to use the bait of loan waiver to woo the electorate. If their hearts bleed for the poor, they can always use the party funds to pay off the lenders, suggests Tamal Bandyopadhyay.
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
Under the hybrid-till model, a portion of non-aeronautical revenue (commercial revenue) at the airport is taken into consideration while fixing the landing and parking charges, user fees and other aeronautical charges.
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
If cleared, the ONGC arm will become the first subsidiary company of an existing Maharatna to get into this superior league among government-owned entities.
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