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Posts tagged as “RTI”

Breaking: Committee Report on Feasibility of RBI issued Digital Currency Submitted

In a one-line response to an RTI application, the Reserve Bank of India said, “The Report [on Central Bank backed digital currency] has been submitted”.  The Reserve Bank of India in the first Bi-monthly monetary policy of 2018-19 announced, along with the Banking Ban on Crypto trading, an inter disciplinary committee setup to provide guidance on introducing a “Central bank digital currency”. The announcement stated, Rapid changes in the landscape…

RTI: Policy around Virtual Currencies under ‘Formulation Stage’

An RTI response from Department of Economic Affairs around cryptocurrency says ‘Relevant policy [around Virtual currencies] is currently under formulation stage’, reaffirming the reports that cryptocurrency regulations may soon be a reality in India.  Yusuf Rampurawala, a lawyer and crypto enthusiast from Mumbai filed an RTI application in May directed towards the Reserve Bank of India which was then forwarded to the Ministry of Finance (DEA). Rampurawala’s intention behind the…

No Independent Research on Crypto done by RBI, Reveals RTI

It has been two months since the Central Bank of India announced a blanket ban on regulated entities working with companies or individuals dealing in Crypto assets. The decision sent the Indian Crypto trading community running for shelter. The prices of cryptocurrency in India dipped by over 50% on the day. In the two months, companies have reached out to the RBI, exchanges and individuals have filed appeals in High…