-The Times of India NEW DELHI: The government on Friday cautioned people against the risk of virtual currencies, saying they are not legal tender and do not have any regulatory permission or protection in India.   In one of the sternest warnings by the authorities, the government said virtual currencies are not backed by government fiat. The caution comes against the backdrop of a surge in interest in such instruments, fuelled by astronomical...

-The Hindu According to the latest rules, ‘explicitly informed consent’ from customers has been made compulsory. Following the Airtel India-Aadhaar subsidy fiasco, the Unique Identification Authority of India (UIDAI) on Tuesday has tightened the norms for mapping Aadhaar number to a different bank account. According to the latest rules, ‘explicitly informed consent’ from customers has been made compulsory. The National Payments Corporation of India (NPCI) will disable the override feature that UIDAI said was...

-The Indian Express Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism. Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes a fool of the revolutionary, exacerbating those very things that the revolution seeks to change. Demonetisation has turned out to be no different. It was a populist measure, done in...

-Firstpost.com Development economist Jean Dreze has been vociferous critic of the Narendra Modi government's demonetisation of Rs 500 and Rs 1,000 notes a year back. He had famously warned that "demonetisation in a booming economy is like shooting at the tyres of a racing car". A year on, it seems his caution has come true. In the first quarter of the current financial year, the GDP growth slowed to a three-year...

-The Hindu Business Line AIBOC questions legality of mandating UID linking of accounts Coimbatore: The All India Bank Officers’ Confederation (AIBOC) wants Aadhaar seeding of accounts put on hold till the Supreme Court comes out with a clear directive. “The government should make it clear to the people that the seeding of Aadhaar is voluntary and not mandatory,” said D Thomas Franco, General Secretary, AIBOC. He said the Aadhaar Act of 2016 was meant...