Until India maps the network of these Chinese lending apps and traces their offshore location, new apps with the promise of millions will continue to lure Indians.
Cryptocurrencies have become emblematic of a flight from speculative assets as monetary policy is tightened around the world to fight inflation, draining liquidity from global markets.
Sitharaman, who is only the second woman defence minister in India's history, is expected to work closely with the Finance Minister to take key industry-related decisions
If the political establishment responds to a situation like this as if it’s something that must only play out between a corporate & the market, it's coming of age of Indian capitalism.