Zuckerberg's plea for Libra, now called Diem, suggests Facebook is leaning more towards the kind of e-cash offered by PayPal or Alibaba than the revolutionary crypto dreams of Bitcoiners.
After Libra launched in June 2019, politicians and regulators raised concerns about privacy, money laundering and companies like Facebook taking power away from central banks.
Facebook’s Libra clearly demonstrates a demand for cheaper and faster global payments service. RBI must accelerate its research on payment methods to serve this demand.
Given Facebook's failures around privacy, a near-unanimous notion among US lawmakers is that the tech giant shouldn’t be trusted to create a new global currency.
For India, this is not an opportunity for schadenfreude but rather a reflection of shared responsibility. It's what happens when the governance framework underpinning economic growth is weakened.
Research paper, however, finds lowest indebtedness level among Muslims at 12.3% & highest among Hindus at 14.9%. Overall national financial inclusion level at 87.2%, indebtedness at 14.7%.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
On 21 Oct, a buzz went up that the govt had released full list of gallantry award recipients along with Op Sindoor citations. I put an AI caddy on the job. It took me into a never-ending rabbit hole.
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