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Cryptocurrencies pose risks to EMs, India's stand remains unchanged - cenbank chief

Reuters · 1y ago

Cryptocurrencies pose risks to EMs, India's stand remains unchanged - cenbank chief

The Reserve Bank of India (RBI) Governor, Shaktikanta Das, has warned that cryptocurrencies can pose significant risks to emerging markets. Despite wider acceptance in other countries, the central bank's position on cryptocurrencies remains unchanged. Das highlighted the benefits of central bank digital currency, or e-rupee in India's case, and mentioned that the RBI is working on programmability to enable cash transfers. The central bank also plans to conduct pilots for using the e-rupee in new segments in the wholesale space. Furthermore, the RBI is exploring model-based artificial intelligence lending by financial entities.

Related News

SEBI Says Oversight Of Crypto Trading, But RBI Still Sees ‘Risk’

Inc42 · 1y ago

SEBI Says Oversight Of Crypto Trading, But RBI Still Sees ‘Risk’

The Securities and Exchange Board of India (SEBI) has recommended that multiple regulators oversee trade in cryptocurrencies, contrasting with the Reserve Bank of India's (RBI) stance in favor of a ban on private digital currencies. SEBI suggests that cryptocurrencies falling under their domain should be monitored by different regulators and that a unified regulator for digital assets should be avoided. SEBI also proposes that grievances of cryptocurrency investors should be resolved under India's Consumer Protection Act. The RBI believes that cryptocurrencies can lead to tax evasion and pose risks to fiscal stability.

Trump’s crypto cheer lifts Bitcoin, but core risks still loom

Livemint

Livemint · 15d ago

Trump’s crypto cheer lifts Bitcoin, but core risks still loom

Bitcoin is experiencing a surge as it approaches all-time highs, boosted by pro-crypto statements from Donald Trump upon his return to political prominence. There's significant Wall Street interest backing the cryptocurrency, yet core concerns like volatility, custody risks, and unstable fundamentals persist. Despite newfound political support, these underlying issues remain unchanged, suggesting that the increased market enthusiasm doesn't fundamentally alter the inherent risks associated with cryptocurrencies.

Only 37% of Indian organisations provide cybersecurity training to employees: Zoho survey

YourStory

YourStory · 7m ago

Only 37% of Indian organisations provide cybersecurity training to employees: Zoho survey

A Zoho survey highlights that only 37% of Indian organizations provide cybersecurity training to employees, below both APAC's 44% and the global average of 41%. While India's digital transformation maturity score (64.6%) is above average, cybersecurity remains a weakness. The report emphasizes the need for improved cybersecurity strategies, especially in government and enterprise sectors. Additionally, shadow applications pose security risks, and task delegation is largely manual, reflecting gaps in digital adoption.

Cryptos pose huge risks for emerging eonomies: RBI Governor

Inc42 · 1y ago

Cryptos pose huge risks for emerging eonomies: RBI Governor

Reserve Bank of India (RBI) Governor, Shaktikanta Das, has reiterated the central bank's stance on cryptocurrencies, stating that digital currencies pose significant risks for emerging economies. Das opposes the widespread acceptance of cryptocurrencies and has previously called for a ban on virtual digital assets. However, he mentioned that the RBI plans to conduct pilots for the wholesale central bank digital currency (CBDC), e-rupee. Additionally, Das praised the Unified Payments Interface (UPI) as one of the best payment systems globally, dismissing accusations of monopoly and expressing ambition for UPI to become a world leader in the payments ecosystem.

Rising giants Dixon, Tatas set to wrestle for India EMS crown

Economic Times

Economic Times · 7m ago

Rising giants Dixon, Tatas set to wrestle for India EMS crown

India's electronics manufacturing services (EMS) sector is set for heightened competition as Dixon Technologies and Tata Electronics emerge as dominant players. Armed with financial resources, Tata Electronics is poised to secure cost advantages, enhancing price competition. Dixon, India's largest EMS provider for mobile phones, faces competition from Tata's rapid expansion. As both companies vie for market leadership, smaller players may consolidate or form alliances to remain competitive, shaping a dynamic and evolving EMS landscape in India.

Equirus Flags Valuation Risks, Backs Large Caps and Rural Demand

StartupTalky

StartupTalky · 10d ago

Equirus Flags Valuation Risks, Backs Large Caps and Rural Demand

Equirus Securities' report forecasts large caps leading India's equity market by 2025, fueled by rural demand resurgence. Overweight sectors include auto, cement, and FMCG, benefiting from rising rural incomes and favorable monsoons, indicating improved purchasing power. While small caps pose valuation risks, mid-caps offer visibility in growth areas. Domestic investors, bolstered by strong SIP inflows, play a crucial role, stabilizing demand. Monetary policy supports returns, and public capex remains robust despite some global uncertainties.

Italy boosts crypto risk oversight and toughens sanctions, draft shows

Economic Times

Economic Times · 1y ago

Italy boosts crypto risk oversight and toughens sanctions, draft shows

Italy is set to introduce new measures to enhance surveillance on cryptocurrency risks, imposing substantial fines for market manipulation in a draft decree under review. The proposed fines range from €5,000 to €5 million for offences such as insider trading, unlawful disclosure of inside information, and market manipulation. This move aligns with the objective of preserving financial stability and ensuring orderly markets, in line with European regulations. The global concern over the lack of underlying value in cryptocurrencies and their potential for fraud continues, with central banks and international bodies warning against the risks they pose to financial and macroeconomic stability.

Tariff woes temporary, India’s equity story still intact: Seshadri Sen

Economic Times

Economic Times · 28d ago

Tariff woes temporary, India’s equity story still intact: Seshadri Sen

Seshadri Sen of Emkay Global Financial Services discusses the potential impact of tariffs on India's equity market, suggesting a worst-case scenario of 25%. Despite short-term volatility and weak earnings, the long-term Indian equity story remains strong, particularly driven by cyclical recovery in consumption. Sen remains positive on consumer discretionary and industrials, while cautious about financials and FMCG sectors. He highlights internet, EMS, and airlines as strong sectors with structural growth potential.

RBI to remain 'agile & proactive' in policy action amid evolving global situation: RBI Governor

YourStory

YourStory · 4m ago

RBI to remain 'agile & proactive' in policy action amid evolving global situation: RBI Governor

Amid global uncertainties, RBI Governor Sanjay Malhotra stresses the need for the central bank to remain "agile and proactive" in its policy actions. While acknowledging India's economic resilience, he warns of potential risks from an unpredictable global environment. The RBI plans to continue monitoring economic conditions and adapt promptly. Although inflation projections have improved, uncertainties and weather disturbances pose risks. Malhotra also highlights stable Indian financial markets and future plans to expand access to FX Retail.

Can India become an AI powerhouse?

Inshorts · 3m ago

Can India become an AI powerhouse?

India's AI ambitions face hurdles, says economist Payal Malik. Despite strong digital talent and data resources, challenges like weak computing infra, low R&D, and over-reliance on Big Tech pose risks. Malik stresses that without bold competition policies and deeper investment in startups, India could fall short of its AI superpower goal-despite initiatives like AIRAWAT.

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