RBI's cryptocurrency clampdown leads to 'revolution' call from exchanges

The Reserve Bank of India (RBI)’s recent directive barring banks from dealing with virtual currency players has led to a call for “a revolution” from some of the cryptocurrency exchanges. One such firm, Bitbns, urged its customers, in an e-mail, to sign a petition supporting the cause for blockchain — a technology that supports bitcoin and other cryptocurrency. Bitbns said such petitions may help the regulator in overturning its decision like it happened in the case of South Korea. Bitbns told investors to "stay strong and together" in the fight and asked them to tag official Twitter handles of the RBI, the finance ministry, the Prime Minister and send them emails supporting cryptocurrency. “We would continue no matter what till we establish India at the forefront of blockchain revolution,” the e-mail said.

When in Rome... err Delhi

While our political leaders might not venture out in public transport unless they wish to garner public votes, Mexico’s ambassador to India, Melba Pria, is setting an example of her own. The ambassador is known to travel in autorickshaws in the capital while on work. If that is not enough, her business card has her name printed both in English as well as in Hindi. “Since I am operating out of Delhi the name had to be in Hindi as well,” she says.

Government report card

The Narendra Modi government is preparing to celebrate its fourth anniversary with much fanfare. The Prime Minister's Office has asked all ministries and departments to list their achievements in that period and identify those promises made in the Bharatiya Janata Party's 2014 Lok Sabha manifesto that have been delivered. Information and Broadcasting secretary NK Sinha has sent a letter to ministries to collect details. With an eye on the 2019 Lok Sabha polls, the focus will be on the Modi government's social welfare schemes that have benefitted the masses. Railway minister Piyush Goyal is to head a four-member committee of ministers to prepare the government's performance report. Information and Broadcasting Minister Smriti Irani, Petroleum minister Dharmendra Pradhan and Rural Development minister Narendra Singh Tomar are the other members of the committee.