News of the government’s proposed ban on cryptocurrencies, in favor of a digital rupee, is doing the rounds. Your thoughts.
I cannot comment directly on government policy, but based on our experience globally, a better way to address the issue would be to start a constructive dialogue with all the players, with an aim to create sustainable regulations. It would promote the growth of the sector, while addressing the government’s concerns.
What if the proposed ban comes through?
The current market conditions in the digital asset space have brought renewed interest in the sector in India, both from a retail and institutional perspective. Universities, including IITs, have embraced the sector’s underlying technology, blockchain, which is set to lead the way globally. Indian exchanges have recorded all-time high trading volumes and user registrations in the past six months.
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WE NEED TO REACH OUT TO MILLENNIALS GLOBALLY
Bata shoes are an integral part of almost every school-goer’s life in India. That is why most Indians believe that the brand — founded in what is now the Czech Republic in 1894 and headquartered in Lausanne, Switzerland — is local, despite operating in over 70 countries. The company, which does a ₹3,500 crore business in the country, recently appointed India CEO Sanjiv Kataria as its global head. Kataria, who had taken over as India head in 2017 and under whom Bata India’s profits rose 46 per cent, tells Ajita Shashidhar how India’s diverse footwear consumption habits have given him a unique understanding of customer needs across the globe. Edited excerpts:
The Infra Catalyst
FM bets big on infrastructure with focus on asset monetisation and sharp rise in allocations to highways and railways
Bank credit growth shows signs of uptick, backed by retail and agri loans, but is expected to remain muted in FY21 due to asset quality pressures
THE GREAT RESET
The FM has set the stage, but timely execution is critical
If Executed Well, 8% Growth Is Possible
Economists, CEOs, consultants, sector specialists interpret Nirmala Sitharaman’s ‘Never-before’ Budget
Ease Of Compliance
Income-tax slabs unchanged, but small taxpayers will enjoy procedural relief in filing ITR and resolution of disputes; High-income earners may feel the pinch though
Job Half Done
The Budget focuses on growth to create jobs but lacks holistic measures to solve the problem of massive unemployment
A significant spike in prices of key raw materials post lockdown has thrown a curveball at the revival story of India Inc
With record healthcare expenditure and allocations focussing on mitigating the impact of Covid-19, it’s a shot in the arm for the sector
Bold Privatisation Bet
In spite of criticism and Opposition jibes, the Centre commits itself to selling most PSUs; sets ambitious disinvestment target for FY22
I was happily married, happily employed, just plain happy. Until the accident
IN SEASON Chickpeas (GARBANZO BEANS)
Chickpeas appear in early recordings in Turkey well over 5000 years ago. India produces the most chickpeas worldwide but they are grown in more than 50 countries. An excellent source of carbohydrates, protein, fiber, B vitamins, and some minerals, they are a nutritious staple of many diets. The name chickpea comes from the Latin word cancer, referring to the plant family of legumes, Fabaceae. It is also known by its popular Spanish-derived name, the garbanzo bean. Kidney beans, black beans, lima beans, and peanuts are other familiar foods found in this legume family.
COST OF A SINGLE BITCOIN EXCEEDS $50,000 FOR FIRST TIME
The seemingly unstoppable rise of Bitcoin continued with the cost of a single unit of the digital currency rising above $50,000 for the first time.
When the Signal Goes Out
Government-ordered internet shutdowns are becoming more frequent
TESLA BUYS $1.5B IN BITCOIN, WILL ACCEPT AS PAYMENT SOON
Holders of Bitcoin may be able to cash in some of their investment in the digital currency for a brand new electric car.
Giving More, Taking Less
FRANCOIS BOUDERLIQUE learnt about the basic principle of Nature – to give more than you take – when he left a high-powered banking job in Paris to live and farm in Kutch, India. He realized that his understanding of eco farming was colored by his past and he needed to open his eyes to a new reality.
Moringa – Cook With Color
In India, moringa has long been used medicinally. This nutrient-dense green food, best known for its energy-boosting and anti-inflammatory properties, adds a mild spinach flavor to recipes like this delicious dip.
Wild-card playoff: Buffalo 27, Indianapolis 24
Stefon Diggs and the rest of the passing game ultimately came through in the end
127 Minutes With… Sam Bankman-Fried
Who was that mysterious Biden donor? A dispassionate 28-year-old with $10 billion in crypto.
CHINESE APP TIKTOK CUTS JOBS IN INDIA FOLLOWING BAN
Popular short-video Chinese app TikTok is cutting its workforce in India after hundreds of millions of its users dropped it to comply with a government ban on dozens of Chinese apps amid a military stand off between the two countries.