Finance

India’s billionaire banker, markets regulator, open up on digital currency

Uday Kotak, the founder of India’s third largest private bank, Kotak Mahindra, has labeled digital currency as an “alternate market currency,” even as the nation’s Finance Minister, Nirmala Sitharaman, made it clear that digital currency cannot be a legal currency. Simultaneously, India’s securities and commodities regulator aims to introduce faster trade settlements to compete with digital currency. An important “aspect …

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Digital currency cannot be legal currency, India’s finance minister says

India’s Finance Minister, Nirmala Sitharaman, has made it clear that ‘cryptocurrencies’ cannot be a legal currency in India; they are simply assets for trading and speculation. India’s “position has always been that assets created in the name of crypto can be assets for trading, assets for speculation, assets for money making, and assets for many other things. …

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Crypto Assets Suitable Only for Trading and Speculation, Not Currency Use: India’s Finance Minister

Last updated: March 18, 2024 01:18 EDT | 1 min read Source: MidjourneyBitcoin’s record high above $72,000 hasn’t changed the Indian government’s position on crypto, according to Finance Minister Nirmala Sitharaman. At the India Today Conclave 2024 on Friday, Sitharaman said the government maintains its position that crypto assets can be used only for trading and speculation. …

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Australia RBA Interest Rate Decision meets expectations (4.35%)

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RBA keeps interest rate unchanged at 4.35% in March, as expected

Reserve Bank of Australia (RBA) Governor Michele Bullock is addressing the press conference following the March monetary policy announcement. Bullock is taking questions from the press, as part of a new reporting format for the central bank. At its March policy meeting, the RBA kept the policy rate unadjusted at 4.35% for the third meeting in …

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Gold price flat-lines above one-week low, awaits the crucial Fed decision on Wednesday

Gold price oscillates in a range and is influenced by a combination of diverging forces. Hawkish Fed expectations, elevated US bond yields and a bullish USD cap the upside. Geopolitical risks lend some support to the XAU/USD ahead of the key FOMC meeting. Gold price (XAU/USD) struggles to capitalize on the previous day’s bounce from …

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Australian Dollar remains subdued amid muted ASX 200, RBA decision eyed

Australian Dollar depreciates on RBA’s decision to keep policy rates unchanged. Australian S&P/ASX 200 Index experiences thin trading activity due to market caution. US Dollar strengthens as US Treasury yields improve, fueled by expectations of the Fed being hawkish for an extended period. The Australian Dollar (AUD) remained tepid amid subdued trading activity as market participants exercised caution …

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USD/CAD consolidates around 1.3540, focus on Canada’s CPI data

USD/CAD exhibits sideways movement with a positive bias to extend gains. Fed could uphold its elevated interest rates to curb inflationary pressures. Canadian Consumer Prices are expected to show an increase in February. USD/CAD continues its upward trend for the fourth consecutive session, trading near the significant level of 1.3540. The US Dollar (USD) advances, …

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Crypto Assets Suitable Only for Trading and Speculation, Not Currency Use: India’s Finance Minister

Last updated: March 18, 2024 01:18 EDT | 1 min read Source: MidjourneyBitcoin’s record high above $72,000 hasn’t changed the Indian government’s position on crypto, according to Finance Minister Nirmala Sitharaman. At the India Today Conclave 2024 on Friday, Sitharaman said the government maintains its position that crypto assets can be used only for trading and speculation. …

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