New Delhi – In the Union Budget, a tax of 30% has been imposed on income via cryptocurrency. Discussions had begun about whether the government has legalised cryptocurrency by imposing this tax. But the chairman of the Central Board of Direct Taxes (CBDT), JB Mohapatra, emphasised that the government has not recognised the cryptocurrency. Furthermore, […]
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Istanbul/Dubai: – Turkey has signed a Currency Swap Deal with the United Arab Emirates (UAE) to stop the slide in the local currency Lira and the leak in the foreign reserves. The agreement is said to be for three years. This is the fourth Currency Swap Deal signed by Turkey to stop the leak in […]
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New Delhi – The ‘Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ will be introduced in the forthcoming winter session of Parliament. The bill will outline the cryptocurrency to be issued by the Reserve Bank. At the same time, the bill would provide for a ban on the use of other private cryptocurrencies. However, […]
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Istanbul: – Majority of the Turkish population has concluded that President Erdogan cannot pull Turkey out of the economic crisis. It has become clear in a recent survey that nearly 64% of the people believe this. The value of Turkish currency Lira has declined to a record low. Besides, the population is harassed due to […]
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New Delhi – The digital era is transforming all sectors. The digital revolution has raised new questions about sovereignty, governance, morality, rights and security in the political, economic and social spheres. Insisting that the power of technology must be used only for constructive purposes, Prime Minister Narendra Modi appealed to the democratic countries in this […]
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Abuja: – Nigeria became the first country in Africa to launch the digital currency ‘eNaira’. On Monday, President Muhammadu Buhari inaugurated ‘eNaira’. President Buhari claimed that this would expand the scope of Nigeria’s banking sector and add billions of dollars to the economy. The Nigerian President predicted that the country’s Gross Domestic Product (GDP) is […]
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Caracas – The Venezuelan government plans to devalue its currency by six zeros as a measure to counter a six-year recession and a 2,000% rise in inflation. According to the plan, the 100-bolivar note will be the highest valued currency note from October. Moreover, its actual value will be 100 million bolivars. It is also […]
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New Delhi – The government has no plans to print more currency notes to alleviate the financial crisis caused by the Coronavirus, Finance Minister Nirmala Sitharaman said. The finance minister made this revelation while answering a question in the Lok Sabha. Stating that the fundamentals of the Indian economy are powerful, Finance Minister Sitharaman assured […]
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London: – British Finance Minister Rishi Sunak hinted at launching a digital currency called ‘Britcoin’. In this regard, the UK Finance Department and the Central Bank’ Bank of England’ set up an independent task force a few months ago. Against the backdrop of Corona and Brexit, the British economy is likely to develop a crisis. […]
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New Delhi: Union Minister of State for Finance Anurag Thakur informed that the government is willing to evaluate the use of newer technologies including cryptocurrency. A few months ago, the government had appointed a high-level Inter-Ministerial Committee, presided over by the Economic Affairs Secretary. The committee has submitted its report to the government and it […]
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