A pilot project will be launched initially as a digital currency is a totally new product both in India and in the world
Question: There are reports that the Reserve Bank of India is considering launching a digital currency. Is it just in the air or is there a possibility that it is initiated?
Reply: There are strong indications that the Reserve Bank of India (RBI) will launch a digital currency by the end of this calendar year. A pilot project will initially be launched because a digital currency is a completely new product both in India and in the world. The Reserve Bank is currently studying various risks associated with the launch of the digital currency with regard to the security aspect as well as the impact on the Indian financial sector. Studies are underway to determine how this currency would affect monetary policy and paper money in circulation. The central bank has not yet determined whether to launch this currency using distributed ledger technology or using a centralized ledger. DLT is the platform on which cryptocurrencies are generally based and traded without any central authority.
Question: Currently, when trading on the stock exchange, we have to wait two days for the transaction to be reflected in our account, whether to buy or sell securities. Is there a move to shorten the period so that there is better tracking of all traded trades?
A: The Securities & Exchange Board of India recently issued a circular authorizing the exchanges to reduce the settlement cycle from the T + 2 system to the T + 1 system for all shares in the cash segment. Therefore, it will be up to each Indian stock exchange to reduce the settlement process by one day from January 1, 2022. Previously, as of April 2003, the Indian market had moved to cycle T + 2 from cycle T + 3 . Currently in India, the T + 2 settlement cycle works like most stock markets around the world. While SEBI has given an exchange the option to move to the T + 1 settlement cycle after giving one month’s notice of such a change, it must continue on the T + 1 settlement basis for at least six months. from the date of the change. After six months, the exchange may return to the T + 2 settlement cycle at its discretion with one month’s notice. It is anticipated that for the smooth functioning of the T + 1 settlement cycle, operational and technical challenges will need to be addressed involving banks, broker back offices, custodians and other agencies participating in the negotiation, settlement and post-settlement.
Q: My son who graduated from India wants to go to the United States for higher education. However, I am concerned about the prospects of obtaining a visa from the US Embassy. Will it be possible to get an education loan from an Indian bank?
A: Surprisingly, the United States Embassy in India has said that during the current year, students traveling to the United States have surpassed 55,000, which is a record. The number of students coming to the UK has also increased thanks to the British Centralized Application System. Banks are also gearing up to support students by providing more student loans at lower interest rates than previously charged. Interest rates were lowered by 50 basis points and the loan amount increased from 3 million rupees to 3.5 million rupees. Prodigy Finance, which has a $ 1.5 billion education loan portfolio, estimated India will have the fastest growing market with a 60% increase in loans in 2021.
HP Ranina is a practicing lawyer specializing in tax laws and foreign exchange management in India.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]