Banks

The Narendra Modi government tried to kill cash. It ended up strangling the economy

7 months ago admin2 Comments Off on The Narendra Modi government tried to kill cash. It ended up strangling the economy
A year ago, on Nov. 08, prime minister Narendra Modi’s announcement that Rs500 and Rs1,000 notes were going to be taken out of circulation overnight predictably led to utter chaos and mayhem. Not only a flustered public, even the government and India’s central bank were caught flatfooted. Some 74 notifications were issued in 50 days Read More

Reserve Bank of India Hints on Possible Ban on Cryptocurrencies

7 months ago admin2 Comments Off on Reserve Bank of India Hints on Possible Ban on Cryptocurrencies
India’s central bank, Reserve Bank of India (RBI), has previously announced its plan to ban the use of virtual currencies as a form of payment across the country. The central bank, however, has shown its support to Blockchain, which is the technology behind the cryptocurrencies. At a conference held in Mumbai, India on Nov. 6, Read More

State Bank of India Launches Blockchain Technology-Based Know Your Customer System

7 months ago admin2 Comments Off on State Bank of India Launches Blockchain Technology-Based Know Your Customer System
The State Bank of India (SBI) has announced that it is due to implement Blockchain technology in the management of Know Your Customer (KYC) protocols. The Indian bank has partnered with a Blockchain company to develop the enterprise solution that employs smart contracts to self-manage KYC protocols. The Blockchain-based platform will provide SBI an effective Read More

Turkish Central Bank President: “Cryptocurrencies May Contribute to Financial Stability”

8 months ago admin2 Comments Off on Turkish Central Bank President: “Cryptocurrencies May Contribute to Financial Stability”
News Bitcoin is trending in Turkey, and the country’s central bank officials are starting to notice. This week President Murat Cetinkaya of the Central Bank of Turkey (CBRT) said the financial institution is monitoring bitcoin closely, and spoke optimistically about digital currencies. Also Read: Luxury Dubai High Rise Apartments Will Be Sold for Bitcoin Central Bank Read More

Credit Suisse CEO Has No Appetite for Bitcoin, Cries “Bubble”

8 months ago admin2 Comments Off on Credit Suisse CEO Has No Appetite for Bitcoin, Cries “Bubble”
While the lack of regulation and use by criminals once formed the basis of attacks on Bitcoin, “bubble” is the latest condemnation used by skeptics. Credit Suisse CEO Thiam used the same logic to attack Bitcoin. Speaking at a news conference in Zurich, Thiam said: “From what we can identify, the only reason today to Read More