"There are no proven instances of cryptocurrency aiding illegal activities, and the debilitating environment created for cryptocurrencies in India will only force Indian investors and exchanges look towards other countries for trading in bitcoin and other cryptocurrencies", said Ritesh Modi, Blockchain expert and author.
Kanungo said the blockchain or the distributed ledger technology, which is the backbone of the digital currencies like Bitcoins, has a lot of relevance for the wider economy and we need to embrace those.
The bank said it has repeatedly cautioned users, holders and traders of virtual currencies, including Bitcoins, regarding various risks associated in dealing with such virtual currencies. Although the RBI accepted that digital cirrencies have the potential to improve the efficiency and inclusiveness of financial system, it raised concerns of consumer protection, market integrity, money laundering etc. Praveen Kumar, founder of the Singapore-based crypto-currency exchange Belfrics, called it a "bad move". "A circular in this regard is being issued separately", added the note.
The Reserve Bank of India (RBI), following the bi-monthly Monetary Policy Statement on Thursday, said it would, with immediate effect, ban all regulated entities from dealing with or providing services to any individual or business dealing with or settling virtual currencies. India's Central Board of Direct Taxes (CBDT) had said on February 6 that actions would be taken against those who tried to hide incomes from crypto assets.
The RBI, however, gave banks and other entities which are regulated by it and now providing such services to exit the relationship within a period of three months.
RBI is concerned about the fact that some of the payment system operators and their outsourcing partners are partly storing their data outside the country.
But at the same time, the RBI has said it will look at the feasibility of floating its own crypto-currency or digital currency in the near future.
India's economic growth, as well as tax collections, are likely to be robust in fiscal year 2018-19, while the National Democratic Alliance (NDA) government in the last leg of its tenure focuses on consolidating reform measures already initiated, senior finance ministry officials said.
The Indian Air Force and navy require as many as 400 single- and double-engine combat aircraft, according to government figures. The proposal is to procure 110 fighter jets and over 90 will be manufactured in India, according to the RFI issued.
Asked for a more extensive injury update at Melwood on Friday, he said: "I have not too much to say about it for two reasons". With the squad wafer thin, Klopp has to stick with Alex Oxlade-Chamberlain to complete his midfield .
Female Rebel BBL starts their season from the 9th f December, which is 10 days earlier from the male season of KFC BBL games. Fans of cricket across the world can see the online stream at the official Australian cricket website, and throw its app.
Samsung is planning to target budget users by providing all the required features included with the full-blown Galaxy S9 series. Per the latest reports , the Samsung Galaxy Tab S4 will also feature 4GB of RAM and 64 GB internal storage.
As reported by Ghizmochina , this smartphone is the result of a cooperation with Black Shark Ltd, a game developer company. From what we have heard in the past, the smartphone could be powered by Qualcomm Snapdragon 845 with 8GB of RAM .
Max Verstappen crashed on the exit of Turn Two, losing control as his vehicle slewed across the track and into the barriers. His time was almost two seconds quicker than the 1:31.458 he had clocked in practice one earlier on Friday.
Many even question The Golf Channel's nearly incessant coverage of the former number one player in the world. His first big announcement was that the club would host a women's amateur event the week before the Masters .
The tax is aimed at reducing the consumption of such drinks and levels of obesity, particularly among children . More than 60,000 children had teeth extracted in hospital past year - the equivalent to 141 operations a day.
In one sense, he was happy to be playing. "I saw where it was and I knew where it needed to be", he said . His third shot landed past the hole and left him with a downhill, 20-foot par putt that he missed left.
Usually, there are some doubts about the safety of online casinos since there are plenty of cheaters in the network. Software used in the online casino belongs to individual companies and not an own developments of casino owners.
Nepal PM calls on the President Kovind
Promising to expedite the Arun 3, Pancheshwar, and Saptakoshi projects, the Prime Minister also wanted the borders to be safe. India's main worry is that Nepal may now lean more toward China as Oli heads a government of communist parties.