Finance Minister Nirmala Sitharaman announced an end to embargo preventing private banks from taking on goverment businesses. RBI Governor Shaktikanta Das express grave concerns on cryptocurrencies.
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The billionaires club in India is expected to increase significantly by 43 per cent to 162 by 2025. The growth will outpace the global average growth of 24 per cent and Asia average of 38 per cent during the period.
With the lifting of the said embargo, private sector banks can now carry out government-related banking transactions such as taxes and other revenue payment facilities, the Department of Financial Services stated.
The central government is in process of bringing legislation that would create the ground for the introduction of an official digital currency and prohibit private cryptocurrencies.
Following resumption of trading at 3:45 pm on NSE, benchmark indices rose as FM Nirmala Sitharaman announced that the government has lifted the embargo on grant of government businesses to private banks.
While DIPAM targets to complete the stake sale by June, the government may have to relax the time period for bidders to complete due diligence.