#sarvesh-quotes | Explore Tumblr posts and blogs

usefulquotes7 · 3 months ago

Text

YOU will never know your STRENGTH until you overcome the WORST Sarvesh

87 notes · View notes

thepersonalwords · 3 months ago

Quote

YOU will never know your STRENGTH until you overcome the WORST

Sarvesh

#quotes #Sarvesh #thepersonalwords #literature #life quotes #prose #lit #spilled ink #best-quotes #famous-quotes #latest-quotes #overcome #quotes-on-life #quotesbysarvesh #sarvesh #sarvesh-quotes #strength #worst #you

53 notes · View notes

jacobhinkley · 7 years ago

Text

India Divided on Whether to Ban Crypto Use

As India works on the bill to regulate cryptocurrencies, each government department has its own opinion on whether to ban the use of crypto, including bitcoin. The Finance Ministry, the Reserve Bank of India (RBI), the Income Tax Department, and the Special Investigation Team have voiced their opinions on the upcoming bill.

Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales

No Consensus Among Regulators

India is preparing a bill on the regulation of cryptocurrency. “The bill has been drafted and consultation has been started with the concerned agency,” the Navbharat Times reported last week. The news outlet quoted sources explaining that the regulators are divided on whether to ban the use of cryptocurrencies such as bitcoin.

“The finance ministry is in favor of regulating [cryptocurrency],” sources said. The Income Tax Department, on the contrary, is not in favor of regulation, the news outlet conveyed, and quoted sources explaining:

The regulation of virtual currency is almost impossible and it promotes the use of black money.

The RBI “is also not in favor of banning virtual currencies,” but sources pointed out that “the current form of the bill proposes to ban virtual currency businesses.” However, there may be exemptions for “issuing crypto tokens in exchange for assets.”

Meanwhile, the Indian Special Investigation Team (SIT) “wants to ban the use of bitcoins” after discovering at least four cases where the digital currency was used to pay for drugs, the Sunday Guardian reported. The SIT comprises of officials from the Narcotics Control Bureau (NCB), the Enforcement Directorate (ED), the Central Bureau of Investigation (CBI) and the Income Tax Department.

The SIT has previously asked the ED, NCB and the Income Tax Department “to take adequate measures to prevent the use of cryptocurrencies,” the publication noted, adding that the Team “has called for a second round of meetings to be held in Delhi next month, where the officials from all the aforementioned agencies will review the use of cryptocurrencies.”

Experts Say Crypto Ban Not Very Feasible

The debate is also taking place in the private sector. Sarvesh Tyagi, a Delhi-based cyber law expert, told the Sunday Guardian that “it is doubtful that the SIT will succeed in banning the use of cryptocurrencies. Ban is not a solution. We need a regulatory authority.” She elaborated:

A blanket ban on the use of cryptocurrencies is not a very feasible solution as drug smuggling is a big problem, and in most cases, these transactions have nothing to do with use of cryptocurrencies.

Crypto Businesses Fight Back

The RBI announced earlier this month for banks and payment gateways under its control to stop providing services to businesses dealing in cryptocurrencies. “Banks have already sent notices to exchanges,” Sathvik Vishwanath, CEO of a leading Indian exchange Unocoin, told news.Bitcoin.com.

The RBI allows banks “about 3 months of time to end the relationships” with crypto businesses, he noted, adding that crypto companies “will be attempting to challenge the [RBI] order” in the Supreme Court as a consortium.

One company, Kali Digital Eco-Systems, has already appealed to the High Court in Delhi against the recent RBI crackdown. The company is behind the upcoming crypto exchange called Coinrecoil.

On Sunday, the company announced that Delhi High Court has accepted its petition against the Indian regulators, adding that:

Hon’ble High Court of Delhi has issued a notice to the Reserve Bank of India, the Union of India through Secretary, Ministry of Finance and GST Council. The next hearing in this case is on May 24, 2018.

What do you think of the Indian regulators’ divided opinions on how to regulate cryptocurrencies? Let us know in the comments section below.

Images courtesy of Shutterstock and the Indian government.

Need to calculate your bitcoin holdings? Check our tools section.

The post India Divided on Whether to Ban Crypto Use appeared first on Bitcoin News.

India Divided on Whether to Ban Crypto Use published first on https://medium.com/@smartoptions

0 notes

corporateleapsindia-blog · 7 years ago

Text

World Bank Keen To Make Investment In Infrastructure Projects In India

India has over the years attracted global attention for its strong approach towards the economy and reforms. While Prime Minister Narendra Modi’s government might have incurred the wrath of Indians in the past few months due downward growth trend, international opinion about India is still very positive.

In all of these, one minister stands tall and has attracted the applause and appreciation for his “decisive attitude” and rapid development. Nitin Gadkari, the Union Minister, is credited and reputed to have a track record of fast-paced project completion, promoting innovative ideas and sharp decision-making skills. Several stalled projects have been resurrected, but some of them are still facing varying hindrances owing to “strained land acquisitions” and the paucity of private investments.

Not many private players seem keen to set up business in India. In an exclusive interview with Moneycontrol, Multilateral Investment Guarantee Agency (MIGA) which is an arm of the World Bank that promotes direct foreign investment, officials of Moneycontrol, attention shifted to how India has garnered global recognition for their giant strides in infrastructural development. Here is some of the highlight of that interview:

Public-Private Partnership

The private sector has stayed away from investing owing to “uncertainty in returns “and the risk involved. According to the Executive Vice Chairman and CEO of MIGA, Keiko Honda, “for private investments to be coming in, a project has to have a decent cash flow so that the project itself can be repaid for debt on time”. According to her, funds for public infrastructure should be gotten from two sources: the final beneficiary and the government.

Aside from fundraising, risk allocation if done rightly, can also serve as a boost for investment. The risk between government and the private sector should be based on the suitability and the ability to bear such risks.

World Bank Would Like To Invest In India

Both Sarvesh Suri, Director of Operations at MIGA and Honda both said that the government is working hard to attract private investors. They said the World truly appreciates the efforts fo the Indian government and would like to invest in India.

“What we have seen globally is that, which is also the situation in India, some of the contracting terms have been relooked at. Some of the highway projects which had got stuck, the government is looking at having new investors come into those… We see from the government’s side that there is an effort to bring the private sector into that space”, Suri was quoted as saying.

According to these World Bank officials, India would grow a faster than the world averages. They said the current slow pace of growth is only temporary and that India is doing just fine. Suri said that while the direction in which the reforms are headed is apparent, the government needs to concentrate on “inclusion” in the society.

He said the “Indian government must focus on inclusion. We have seen that the growth is great and has lifted a lot of people out of poverty, but it has also created a bit of rift between people who are rich and those who are not.”

0 notes