A 30% capital gains tax can be mandated on all bitcoins profits, if they are held for less than 3 years, & 20% tax, if they are held for more than 3 years.
South Indian Bank, which has major presence in Middle East & African countries, will now use blockchain technology for faster overseas remittance & payments
Mobile payments is still in its early stages, in India & on a global level. While there is widespread awareness, the actual usage numbers are disappointing.
Infosys has just released a comprehensive banking solution package, Finacle Trade Connect, which uses blockchain for performing major banking operations.
Axis Bank has partnered with Ripple to use blockchain for instant cross-border money transfer mechanism, a process which takes up to 3-4 days in India.
These new initiatives by SBI are part of products & solutions under Bankchain - a consortium of 27 banks, who have resolved to use blockchain technology.
RBI is open to use blockchain, the technology powering several cryptocurrencies like bitcoins. But it has warned against the actual use of Bitcoins in India
In an interesting research conducted by Gartner into usage & adoption of technology in banking sector, AI has topped Blockchain technology as more preferred
During an event related to Blockchain technology, Andhra Pradesh CM informed all attendees, that Blockchain is the future of e-Governance in the state.
India’s largest bank: SBI is right now spearheading a massive partnership with other commercial banks to use blockchain technology as a medium to fight banking related frauds. Aiding them in this exercise are technology companies…