Creation, trading of bitcoins not authorised: Meghwal

New Delhi, Nov 18 (PTI) The creation and trading of virtual currency, including bitcoins, as a medium for payment are not authorised by RBI, Parliament was informed today. trading of bitcoins
RBI has issued a cautionary advice in December 2013 cautioning the users, holders and traders of virtual currencies, including bitcoins, about operational, legal and customer protection and security thread risks, Minister of State for Finance Arjun Ram Meghwal said in a written reply to the Lok Sabha.
“The creation, trading or usage of virtual currencies, including bitcoins, as a medium for payment are not authorised by any central bank or monetary authority,” he said.
Replying to another query, Minister of State for Finance Santosh Kumar Gangwar said the Department of Financial Services has conveyed its approval for compassionate appointment in PSBs on the lines of the central government in August 2014.
Accordingly, Indian Banks Association (IBA) has formulated a scheme of appointment on compassionate ground in PSBs, he said, adding that a clarification was given to PSBs on December 5, 2014, that all PSBs can have both options — compassionate appointment or payment of lumpsum ex-gratia amount.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
COPYRIGHT © 2009-2018. Pramod Baviskar. Dalal street winners advisory and coaching services. FAQ | Disclaimer | Privacy Policy

This website is best viewed using Microsoft Internet Explorer 9 or higher, and/or latest version of Google Chrome and Mozila Firefox browsers.