“Bribery, corruption, money laundering, millions and millions and millions of dollars….[…]…..somebody has to sound the alarm.”– Meryl Streep, The Laundromat The Prevention of Money Laundering Act (or, as its friends call it, the ‘PMLA’) is a long-arm law. It gives its enforcing agency, the Enforcement Directorate (or as its, umm.. acquaintances call it, the ‘ED’),Read more
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“The price of doing the same old thing is far higher than the price of change.” – Bill Clinton Regulating emerging tech is an exercise in navigating dichotomies. Governments and regulators across the world are grappling with pretty much the same questions: Will the old, tried, and tested laws endure the onslaught of new technologies?Read more
“Since Friday, 72% of our cash on delivery orders were paid in 2000-rupee notes.” – Zomato The 2000-rupee note is teetering on its last leg, ready to kick the bucket, living on borrowed time. You get the drift. It’s not a sudden death (none of the horrors of the demonetization). It’s more of a slowRead more
Image credit: Shutterstock
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“The @GoI_MeitY has started the process to ban & block 138 betting apps and 94 loan lending apps which reportedly have Chinese links on an “urgent” and “emergency” basis.”- Prasar Bharati Have you ever been to a party where the police showed up? If yes, congrats, I suppose. What if it’s not the police? ARead more
“Be careful or be roadkill.” – Calvin (Calvin & Hobbes) There are two kinds of fintech: the conscientious and the reckless. The former treads with caution. They know that being cavalier isn’t an option if you deal with public money. Then there’s the reckless. The sort that calls your grandmom if you default on aRead more
The best stories of 2022 from our monthly fintech newsletter, FinTales. February 2022: The Hassleocracy of Crypto-taxes “Cryptos have no underlying assets, not even a tulip.” –Shaktikanta Das Ouch. That’s the RBI Governor, not mincing his words. Like everyone else, we’ve pored over the Budget announcements on crypto-assets. The euphoria in the crypto-verse was short-lived.Read more
“There are some gifts only the RBI can deliver. For everything else, there’s Santa.” – (reportedly) Santa Merry Christmas Dear Reader, We have a Christmas present for you: a sneak peek into Santa’s inbox. Besides millions of gushing letters from Messi fans, we found many from fintech founders, and a lot of them read like this:Read more
“Whatever the truth, science today agrees that everything is destined to return to Chaos. It calls this inevitable fate entropy: part of the great cycle from Chaos to order and back again to Chaos.” – Stephen Fry, Mythos: The Greek Myths Retold Hello Reader,The ancient Greeks believed the first divine beings – the sky, the earth, theRead more