Friday, 24 March, 2023

Internet body challenges RBI on crypto-currency ban

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Internet and Mobile Association of India (IAMAI) has challenged in Supreme Court the Reserve Bank of India (RBI) diktat banning banks and financial institutions from providing crypto-currency related services. The association questioned RBI&rsquo;s authority to ban when there is no legislative policy in place for virtual currency. It also said that the ban was not backed by proper research on the subject.</span></span></span></p>