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Although cryptocurrency is not officially accepted, India has a policy in place for transactions involving cryptocurrency. At the start of 2022, the government introduced a 30% tax on capital gains from cryptocurrency. Additionally, a 1% tax is deducted at the source by law for every transaction. GST is charged on the services provided by cryptocurrency exchanges.Additionally, these taxes should not be considered as formal government approval. India has not officially stated whether cryptocurrencies are legal or not. Though the sector falls under money laundering rules, they don’t include any special...

RBI Governor Sanjay Malhotra announces 25 bps repo rate cut. (Express Photo by Amit Chakravarty)RBI Repo Rate Cut, RBI Monetary Policy Meeting 2025 Today Live Updates: RBI Governor Sanjay Malhotra announced a 25 basis point cut in policy repo rate on Wednesday, saying the central bank is targeting non-inflationary growth. The RBI Governor said global economy was going through a period of uncertainty, posing challenges to policymaking, alluding to the sweeping tariffs announced by US President Donald Trump. The latest round of reciprocal tariffs kicked in minutes before Malhotra started...

Reserve Bank and the Bank of Mauritius (BOM) have signed a pact for establishing a framework to promote the use of the Indian Rupee and the Mauritian Rupee (MUR) for cross-border transactions.The Memorandum of Understanding (MoU) was signed by RBI Governor Sanjay Malhotra and BOM Governor Rama Krishna Sithanen G C S K, the central bank said in a statement on Tuesday. "The MoU documents were exchanged in Port Louis, Mauritius in the presence of the Prime Minister of India Narendra Modi and Prime Minister of Mauritius Navinchandra Ramgoolam, on...