Every Indian currency note prominently bears a promissary message from the Reserve Bank of India Governor, which states: “I promise to pay the bearer the sum of (the respective currency denomination value).”
The Reserve Bank of India remained net buyer of the US currency in November as it purchased $864 million from the spot market. During the month, the central bank had purchased $2.570 billion from the spot market and sold $1.706 billion, according to the latest RBI data released today.
Sebi Chairman Ajay Tyagi on Wednesday underplayed the warnings about the risks from crypto-currencies, saying it was not a systemic issue for the economy as of now, but said they are something one cannot ignore. The Reserve Bank of India (RBI) recently sounded warning bells about the risks involved in trading in these virtual currencies.
Despite continuous surge in Bitcoin price, a degree of scepticism looms alrge on most cryptocurrencies. Nirmal John explains the absence of fundamentals-based approach towards asset valuation of cryptocurrencies.