The Ministry of Finance has issued the following statement on Virtual ‘Currencies’ like the Bitcoin on 29th December 2017. No major editing has been done on this note: “There has been a phenomenal increase in recent times in the price of Virtual ‘Currencies’ (VCs) including Bitcoin, in India and globally. The VCs don’t have any […]
The Indian government has denied that it does not respect the independence and autonomy of the Reserve Bank of India which many newspaper reports have suggested. Finance Ministry today responded to the reports. This controversy came into existence after it was revealed that it was Prime Minister Modi and the Finance Ministry which were the main […]
The Ministry of Finance, Government of India through its Department of Financial Services(DFS) has asked all the Public Sector Banks(PSBs) and the Indian Bankers Association (IBA) to ensure hundred percent(100%) that deposits of new currency is properly reflected in the customers’ counterfoils. In a letter addressed to all the Managing Directors (MDs) & Chief Executive […]
