Major Indian Bank HDFC Says ‘It’s a Matter of Time Before Indian Investors Ha...
One of India’s leading private banks with 5,608 branches and 16,087 ATMs, HDFC Bank, has published a report stating that “it is just a matter of time before Indian investors have legal access to crypto plays.” This statement came as the bank scrutinizes crypto transactions in customer accounts. HDFC Bank Predicts Legal Acess to Crypto in India HDFC Bank, a leading private bank in India, published a Treasury Research report last week detailing its view on cryptocurrency. HDFC Bank currently has 5,608 branches and 16,087 ATMs across India. The bank was among the first to....
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Several major global cryptocurrency exchanges are reportedly exploring ways to enter the Indian crypto market. “The Indian market is huge and it is only starting to grow, if there was more policy certainty by now Indian consumers would have been spoilt for choice in terms of exchanges because everyone wants to be here,” said an executive of a crypto firm. Major Crypto Exchanges Want to Enter India Global crypto exchanges are exploring ways to enter the Indian cryptocurrency market, Reuters reported. Four sources told the publication that U.S.-based Kraken, Hong Kong-based....
The number of Indian users on cryptocurrency exchange Binance has soared after the Indian government began levying taxes on crypto transactions. Meanwhile, daily trading volumes at some major India-based cryptocurrency exchanges are down over 90% since the new tax rules took effect.
Binance Sees Record Number of Indian Users
The number of Indian user sign-ups soared on global crypto exchange Binance after a 1% tax deducted at source (TDS) went into effect in July, Bloomberg reported Tuesday.
The number of Binance app downloads in India jumped to 429,000 in August, the....
The Indian government is consulting with the Reserve Bank of India (RBI) on crypto policies. According to the finance minister, the government and the central bank are in “complete harmony” on crypto and other issues. Indian Government and Central Bank Discussing Crypto Policies Internally Indian Finance Minister Nirmala Sitharaman revealed Monday that the government is discussing crypto policies with the central bank, the Reserve Bank of India (RBI). At the conclusion of the RBI’s board meeting, the finance minister told reporters that the government and the central....
There are reports that the Indian government may impose restrictions on self-custodial cryptocurrency wallets and only allow Indian crypto exchanges. The CEO of a major cryptocurrency exchange in India has shared his thoughts on the possible restrictions. The Indian government has listed a cryptocurrency bill to be taken up in the current session of parliament.
Possible Restrictions in Indian Crypto Regulation
A cryptocurrency bill is waiting to be heard in the current session of parliament in India. The country’s finance minister, Nirmala Sitharaman, has confirmed that....
India’s leading private lender HDFC Bank is using robots in its branches to improve its customer service, making it the first to use ‘humanoids’ in India’s banking sector. In a report from the Business Standard, more humanoids will be inserted into banks in India after determining the response from customers, according to Nitin Chugh, HDFC’s head for digital banking. The installation of HDFC Bank’s humanoid is part of an artificial intelligence program that was launched last year. By doing so, the bank is hoping to improve their customer service as well as its marketing aspects. Chugh....