Digital Currency

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RBI Ban Stops Indian Police From Cashing Out Seized Crypto

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The effects of banking restrictions by the Reserve Bank of India (RBI) have reached an Indian police department. The police sold some cryptocurrencies they seized only to find out that they cannot access the Rs 8.42 crore (~$1.2 million) proceeds due to the current RBI banking ban. Also read: India’s Popular ‘Who Wants to Be … Read more

New Evidence Escalates Panic as RBI Still Limits Bank Withdrawals

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Customers of a cooperative bank with 137 branches across India still do not know the fate of their money, which was restricted by the central bank. Evidence of alleged bank fraud has since surfaced, but the RBI still insists that India’s banking system is safe, despite many citizens being unable to withdraw their money. Also … Read more

How G20 Central Bank Digital Currencies Are Progressing

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Central bank digital currency has become a hot topic among finance ministers and central bankers worldwide, with some G20 countries ahead of the rest on work done toward issuing their own digital currencies. Experts have weighed in on their expectations of when the first G20 digital currency will be introduced. Also read: Central Banks Worldwide … Read more

Massive Layoffs: Banks Cutting Nearly 60,000 Jobs Worldwide

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Banks are laying off workers across the globe as revenue declines throughout the sector. According to reports, banks have announced nearly 60,000 job cuts so far this year, with most of the layoffs happening in Europe, especially in Germany. Also read: Panic at 137 Bank Branches as RBI Limits Withdrawals to ₹1,000 Almost 60,000 Job … Read more

Protests Led RBI to Raise PMC Bank’s Withdrawal Limit

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The Reserve Bank of India has relaxed the withdrawal limit of 1,000 rupees (approximately $14) it placed on a cooperative bank a couple of days ago. The central bank said it aims to reduce the hardship of depositors after many heavy protests followed its original order. Also read: Panic at 137 Bank Branches as RBI … Read more

Panic at 137 Bank Branches as RBI Limits Withdrawals to ₹1,000

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The Reserve Bank of India has imposed regulatory restrictions on a cooperative bank with 137 branches across India, including limiting customer withdrawals to a total of 1,000 rupees (approximately $14) per account for six months. Police personnel had to be deployed to control angry customers at some locations. Also read: Indian Parliament Member Helping Crypto … Read more