News has it that Facebook is foraying into online remittances and will introduce a tethered digital asset named “Libra” to fuel this system. Libra will be linked with the INR (i.e. the Indian National Rupee) and each Libra will always convert to 1 INR. How will this play with the April 2018 RBI circular that imposed a deRead more
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In February 2017, Whatsapp had announced its plans to introduce a UPI-based payments service in India. Since then, a number of developments have taken place with respect to the payments service, including a discussion on privacy concerns surrounding the application’s use of customer data. This post provides a timeline of all the developments that haveRead more
The Government’s Position on Cryptocurrency While the novelty factor of cryptocurrency and the blockchain technology has not abated since 2009, Indian regulators have only recently begun evaluating the financial and security risks posed by virtual currencies such as Bitcoin. The Finance Minister, Mr. Arun Jaitley, announced in his 2018 Budget Speech that the government doesRead more
The 2018 budget featured a number of announcements that may be of interest to anyone engaged with the technology sector or the startup ecosystem. This note takes a look at some of these announcements in order to identify how the business environment may be impacted by the 2018 Budget Economic Growth in the last year:Read more