RBI reiterates concerns over crypto trading

The Reserve Bank of India (RBI) reiterated its concerns over cryptocurrencies, clarifying its stance on digital assets just days after the regulator told banks to set aside a 2018 ban on trading.

“There is no change in RBI’S position,” RBI Governor Shaktikanta Das said. “We have major concerns around cryptocurrency, which we have conveyed to the government.” The RBI has expressed concern about digital currencies on a number of occasions.

The government has also removed the current ceiling of ₹500 crore of loan outstanding for eligibility under ECLGS 3.0, subject to maximum additional ECLGS assistance to each borrower being limited to 40% or ₹200 crore, whichever is lower.

Loans to the civil aviation sector have been made eligible under ECLGS 3.0. The scheme earlier covered business enterprises in hospitality, travel and tourism, leisure and sporting sectors, which had as of February 29, total credit outstanding not exceeding ₹500 crore.