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Pm Narendra Modi Chaired A Meeting On Cryptocurrency And Related Issues Here Is All You Need To Know In Hindi

News Desk, Amar Ujala, New Delhi

Published by: Gaurav Pandey
Updated Sat, 13 Nov 2021 09:22 PM IST

Summary

A meeting was held on Saturday under the chairmanship of Prime Minister Narendra Modi regarding a type of digital currency ‘cryptocurrency’ and its related issues. In this, efforts were made to mislead people about this and the need for collective efforts at the global level was emphasized. After the meeting, government sources gave information about this. Read full report…

Prime Minister Narendra Modi (File)
– Photo : YouTube Screenshot

Prime Minister Narendra Modi on Saturday held a high-level meeting with top officials on the growing menace of money laundering and terrorist funding to mislead the youth by promising huge returns on investment in cryptocurrencies. It was decided in the meeting that such unregulated markets cannot be allowed to become a source of money laundering and terrorist funding. Regulatory measures will be taken soon to stop this.

It was emphasized in the meeting that attempts to mislead the youth through exaggerated promises and non-transparent advertisements should be stopped. A source said that the government is aware that this is an evolving technology. She will keep a close watch on it and take proactive steps. It was also agreed that the steps taken by the government in this area would be progressive and forward thinking. The government will actively engage with experts and other stakeholders. As the subject transcends geographical boundaries, it was felt that it would require global participation and collective strategies.

RBI, Home and Finance Ministries have also expressed concern.

According to sources, RBI, Ministry of Finance, Ministry of Home Affairs held detailed discussions on this as well as consultations were taken from experts from across the country and the world and best practices and examples from around the world were taken into account. RBI has repeatedly reiterated its firm stand against cryptocurrencies, saying it could pose a serious threat to the country’s macroeconomic and financial stability.

RBI has also raised doubts on their market value. RBI Governor Shaktikanta Das on Wednesday reiterated his views against allowing cryptocurrencies, saying they pose a serious threat to any financial system as they are not controlled by central banks.

Internal panel report may come next month

The report of RBI’s internal panel on cryptocurrencies is expected next month. The Supreme Court struck down the RBI circular banning cryptocurrencies in early March 2020. After this, on February 5, 2021, the RBI constituted an internal committee to suggest a model for this digital currency.

Tripura: Modi to transfer over Rs 700 crore to 1.47 lakh beneficiaries
At the same time, PM Modi will transfer the first installment of Pradhan Mantri Awas Yojana-Gramin (PMAY-G) on Sunday to more than 1.47 lakh beneficiaries of Tripura through video conferencing. It was told by the Prime Minister’s Office that on this occasion Rs 700 crore will be deposited directly in the bank accounts of the beneficiaries.

Expansion

Prime Minister Narendra Modi on Saturday held a high-level meeting with top officials on the growing menace of money laundering and terrorist funding to mislead the youth by promising huge returns on investment in cryptocurrencies. It was decided in the meeting that such unregulated markets cannot be allowed to become a source of money laundering and terrorist funding. Regulatory measures will be taken soon to stop this.

It was emphasized in the meeting that attempts to mislead the youth through exaggerated promises and non-transparent advertisements should be stopped. A source said that the government is aware that this is an evolving technology. She will keep a close watch on it and take proactive steps. It was also agreed that the steps taken by the government in this area would be progressive and forward thinking. The government will actively engage with experts and other stakeholders. As the subject transcends geographical boundaries, it was felt that it would require global participation and collective strategies.

RBI, Home and Finance Ministries have also expressed concern.

According to sources, RBI, Ministry of Finance, Ministry of Home Affairs held detailed discussions on this as well as consultations were taken from experts from across the country and the world and best practices and examples from around the world were taken into account. RBI has repeatedly reiterated its firm stand against cryptocurrencies, saying it could pose a serious threat to the country’s macroeconomic and financial stability.

RBI has also raised doubts on their market value. RBI Governor Shaktikanta Das on Wednesday reiterated his views against allowing cryptocurrencies, saying they pose a serious threat to any financial system as they are not controlled by central banks.

Internal panel report may come next month

The report of RBI’s internal panel on cryptocurrencies is expected next month. The Supreme Court struck down the RBI circular banning cryptocurrencies in early March 2020. After this, on February 5, 2021, the RBI constituted an internal committee to suggest a model for this digital currency.

Tripura: Modi to transfer over Rs 700 crore to 1.47 lakh beneficiaries

At the same time, PM Modi will transfer the first installment of Pradhan Mantri Awas Yojana-Gramin (PMAY-G) on Sunday to more than 1.47 lakh beneficiaries of Tripura through video conferencing. It was told by the Prime Minister’s Office that on this occasion Rs 700 crore will be deposited directly in the bank accounts of the beneficiaries.

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