Posts Tagged ‘India’

India Mulls GST On Trading Of Virtual Currencies

India may levy Goods and Services Tax on cryptocurrency trading, even as there’s lack of clarity about their legal status in the country. The government may levy an 18 percent GST, people with direct knowledge of the matter said requesting anonymity as they weren’t authorised to speak to the media. The proposal, being considered by […]

NSW Australia opens applications for fintech trade mission to India

The Government of New South Wales (NSW ) is offering 10 NSW fintech startups the chance to go on an intensive business development program in India from 24–29 June 2018. Based out of Zone Startups in Mumbai, the one-week program will provide an introduction to the India market, facilitate meetings and networking sessions with local […]

Race to $1 bn: Which Indian startup was the fastest to get unicorn status?

Venture capital and private equity investors have pumped billions of dollars into the Indian startup ecosystem over the past few years, producing more than a dozen unicorns in the process. E-commerce venture Paytm Mall became the newest member of the unicorn club when it raised $445 million last month from Japanese behemoth SoftBank and Chinese […]

Fintech Cos in India Are Turning Their Focus to Tier II and III Cities

Fintech companies are ready to turn their attention to the Tier II and III cities in India. Being untapped markets, these cities bring a greater opportunity for the players. Start-ups which have raised funding recently believe it’s time to focus on the smaller markets. According to reports, Paypal is also looking at strengthening its presence in India […]

Meet the 50 top-funded startups and tech companies in India

Which companies in India are blazing a trail for the rest? One way to judge – although imperfect – would be the amount of money they have raised. Using its data, Tech in Asia has generated a constantly updated list of 50 startups and tech companies in India who have raised the most money from […]

India Bans Banks from Processing Cryptocurrency Purchases

Indian residents can no longer purchase cryptocurrency through their bank accounts, according to new measures adopted by the Reserve Bank of India (RBI). The sweeping policy prohibits RBI-regulated institutions from allowing their customers to purchases cryptocurrencies, and it also bars banks from providing services to businesses dealing with or settling virtual currencies. The RBI statement acknowledges that blockchain […]

Blockchain start-ups in India shift to overseas markets to raise ICOs

Despite a negative outlook among regulators and venture capital funds, cryptocurrency-based ICOs have become prevalent among start-ups based out of India. Many start-ups with roots in India have either moved base to overseas markets or registered their companies in countries that legally allow trading in cryptocurrencies. Although there aren’t any specific regulations against ICOs in […]

Bitcoin Price Dives Below $9,700 as India Hints at Hard Line on Crypto Usage

Arun Jaitley, India’s finance minister, criticized cryptocurrencies during a speech before the country’s parliament. Jaitley, who was ostensibly presenting the Union Budget, took time to state that the government does not consider cryptocurrencies to be legal tender and that regulators will take “all measures” to eliminate their use in criminal activities. The finance minister did […]