Today's episode of TechThisWeek is packed with developments ranging from the lifting of the crypto currency ban imposed by the Reserve Bank of India in April 2018, the Yes Bank moratorium that capped withdrawals at Rs 50,000 and the coronavirus scare that is creating unrest in the startup and enterprise space.
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- In a major reprieve for cryptocurrency companies in India, the Supreme Court has quashed the RBI crypto ban, allowing virtual currency trading.
- The Reserve Bank of India also placed some curbs on Yes Bank, which sent some fintech companies into a tizzy. Walmart-owned PhonePe was affected the most on account of its exclusive partnership with Yes Bank for UPI transactions.
- It may be early to quantify the business impact of the global coronavirus outbreak on India’s $190 billion information technology (IT) services industry, but players across the spectrum have sprung into action with precautionary measures to contain foreseeable risks and ensure business continuity.
- Early stage investing in India this year is expected to remain robust with venture capital (VC) investors sitting on an estimated $7 billion yet-to-be deployed capital, according to a report by Bain & Company in collaboration with the Indian Private Equity & Venture Capital Association (IVCA).