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Amongst all its Indian stakeholders, there are strong undercurrents, deafening official-silence and unofficial-posturing, all around. Over the past few months, the government has had its varying views & intent about crypto. The RBI has been silent about Crypto. The crypto investor community has been euphoric about the instrument and equally miffed with the Indian officialdom’s behavior. All this, when the topic of Crypto was purportedly solved last year with the Supreme Court of India lifting the RBIs crypto ban of 2018.
Concerns & common sense
Is it the common man who buys Bitcoin? Or HNIs, or someone who understands technology and/or has surplus funds to invest in it? Should we blame Crypto-investing for the lack of other attractive investment instruments currently? Moral-placarders even compare crypto to gambling! Statistically, capital markets volatility has wiped out a larger proportion of retail investors’ wealth in the past and could continue to do so in the future in the free-markets scenario.
Another narrative fear that cryptos could be used for money laundering and terror financing. A mal-actor would have to be naive to try terror financing on an immutable ledger that can be seen and must be authenticated by all nodes on a blockchain! According to a report by Chainalysis, a company that specializes in cryptocurrency investigations for governments, exchanges, and financial institutions, in 2020, the ï¿½criminal share’ of all cryptocurrency activity globally fell to just 0.34 percent ($10.0 billion value). The report also mentions that most cryptocurrency-related crimes are ransom-ware, darknet market deals, etc in India.
In India, traditional physical assets like real estate and gold still account for most money laundering operations and financing mal-actors. Real estate is still not covered under the Money Laundering Act while purchasing gold does not even require KYC.
Of late, the banks have not been allowing crypto transactions on their gateways. The media reports speculate that the RBI “nudged” the banks to give them “cold-shoulder” treatment.
The RBI has been reportedly working on building a central bank digital currency (CBDC), using many of the properties of cryptocurrencies including blockchain technology. A good start is that the Ministry of Corporate Affairs (MCA) had recently made it mandatory for companies to disclose crypto trading/investments during the financial year.
Whenever the clarity comes through, if Cryptos were to be treated under Law as “securities”, then the regulatory control will be in SEBI’s court. If it’s treated as currency (doubtfully so!!), then it would fall in the RBI domain. (Technically Cryptocurrencies are unviable as a currency as of now, due to the massive changes in corrections and the time it takes for a transaction to get authenticated by the various nodes on the blockchain.)
“Stick no bill”?
Are the current “predatory” actions of the banks against the crypto-players to be seen as “appeasing their regulator”? Is it a dereliction of commercial agreement between banks and the crypto players? Can the affected crypto players seek redressal from the consumer grievance committees of the bank boards (chaired by independent directors)?
Can the crypto players seek SEBI’s help, as most of these banks are listed entities and the consumers as a stakeholder, have right-to-recourse for detailed disclosures, with their securities-regulator? Can they seek the help and advice of the concerned ministries under #EaseofDoingBusiness?
Ostrich-head-in-the-sand syndrome of ignoring the development of digital currencies globally will be at our own (un)doing. Economically & business sentiment-wise, the price of the arbitrariness of any policy or regulatory indecision is too high. A healthier policy discussion on this topic can start with sharing the draft “The Cryptocurrency and Regulation of Official Digital Currency Bill of 2021” in the public domain. (IANS/JC)
( Cryptocurrency project, cryptocurrency crimes, Cryptocurrency and Regulation, India Cryptocurrency)
In South India, Deepavali marks the end of the monsoon and heralds the start of winter. The festival is usually observed in the weeks following heavy rain, and just before the first cold spell in the peninsula. The light and laughter that comes with the almost week-long celebration are certainly warm to the bones, but there is still a tradition that the South Indians follow to ease their transition from humidity to the cold.
Just before the main festival, the family bathes in sesame oil. This tradition is called 'yellu yennai snaana' in Kannada, or 'ennai kuliyal' in Tamil, which translates to 'sesame oil bath'. The eldest member of the family applies three drops of heated oil on each member's head. They must massage this oil into their hair and body. The oil is allowed to soak in for a while, anywhere between twenty minutes to an hour. After this, they must wash with warm water before sunrise.
Women applying oil to the heads of men Photo credit: Indians in Kuwait
In some parts of the peninsula, soap is not used to wash off the oil because it nullifies its effects. Some cultures who do not like the oil to remain in any way on their skin wash it off with shikakai and herbs, which is a paste that is traditionally used as a substitute for soap. Sometimes, the oil is heated with flowers and spices as well and is less sticky than in its pure form.
The purpose of this ritual is to cleanse the body, detoxify it, and produce heat in it. Sesame is a very heaty substance and tends to heat up the body. This heat, or 'usshna' in Kannada, prepares the body to face the sudden cold that comes to the peninsula immediately after Diwali. South India has no smooth transition weather-wise from monsoon to winter. There are a few days of stable, rainless weather, and suddenly the cold winds descend.
In many ways, the celebration of Diwali is centered around preparing for winter, considering the amount of heat and light the rituals consist of – lighting lamps, bursting crackers, and consuming warm treats. Those who practice these rituals earnestly find the shift in seasons and weather quite pleasant.
Keyboards: Sesame Oil Bath, Diwali Ritual, Traditional Sesame Oil Bath
By Peeyoosh Rankhamb
Parents, do you have any doubts regarding what to feed your newborn during the first year? Are you becoming anxious because of this? What should be the eating schedule for your baby?
The right kind of nutrition during the early years of life can help in the growth and development of the little one. Thus, exclusive feeding for over a year as per the doctor's advice remains key for your baby to stay healthy and keep various allergies, infections, and diseases away. Breastfeeding is vital for the baby and fulfils the baby's requirement of nutrition. At six months you need to also introduce the baby to solid foods.
Here's a list of do's and don'ts that you need to follow
* Do not introduce your baby to solid foods immediately after the first few months. The little one may not be ready for it and you will have a tough time making the baby eat this food. You should give breast milk to your child and formula milk can be given after consulting the doctor. Just be patient and follow the suggestions given by the expert.
You should give breast milk to your child and formula milk can be given after consulting the doctor. | Photo by Lucy Wolski on Unsplash
* The mother must breastfeed the baby after every two hours, including at the night. You need to properly understand the hunger cues that the baby gives you. Do not force the baby to take feeds. He/she can get grumpy and annoyed. You need to note down how many times the baby is taking feeds in a day, and if he/she is feeding correctly.
The mother must breastfeed the baby after every two hours, including at the night. | Photo by Jordan Whitt on Unsplash
* Make sure that you inculcate healthy eating habits in your babies that can help him/her throughout life. Solid foods should be introduced after six months depending on the growth and development of the baby. Do not give nuts, raisins, peanuts, nuts, jelly cubes or big pieces of food that may get stuck in the mouth.
Solid foods should be introduced after six months depending on the growth and development of the baby. | Photo by hui sang on Unsplash
* Give properly cooked or mashed potatoes, veggies, cheese, bananas, and peas. Do not introduce babies to finger foods as they are unhealthy. Make him/her eat whole fruits instead of chips or oily snacks.
Do not introduce babies to finger foods as they are unhealthy. | Photo by Anna Stampfli on Unsplash
* Chocolate contains caffeine and sugar and should be avoided after all you don't want to give your baby caffeine, right? This is so because your baby's health matters to you the most. Hence, it will be essential for you to make sure your baby is eating healthy foods.
It will be essential for you to make sure your baby is eating healthy foods. | Photo by Derek Owens on Unsplash
* Before giving an egg, ask the expert as an egg can lead to allergies. Raw vegetables contain high levels of nitrate and should be avoided owing to the choking hazards.
Before giving an egg, ask the expert as an egg can lead to allergies. | Photo by Hannah Tasker on Unsplash
In case you want to understand the diet in a better way than just consult an expert who will help you regarding how to feed the baby in the correct way.
(Article originally published on IANSlife) (IANS/ MBI)
Keywords: feed, baby, six, months, health, expert, year one, eating, food
Samsung Electronics will quickly decide on a foundry investment in the US, a senior executive said Tuesday, as the South Korean tech giant seeks to become the world's number one player in the logic chip and foundry sectors. Samsung Electronics, the world's number two foundry firm behind Taiwan's TSMC, announced in May that it will build a $17 billion fab in the US.
Samsung's de facto leader Lee Jae-yong is widely speculated to visit the US, possibly next month, to finalise the site, with the city of Taylor, Texas, emerging as the strongest candidate. Other candidates include Arizona, New York, and Austin, Texas. Kim Ki-nam, Vice Chairman and CEO of Samsung's device solutions division, said it takes time for the company to review all the factors such as "infrastructure, site, personnel and state incentives," and make a final decision.
"We are trying to make a decision as soon as possible," Kim told reporters on the sidelines of the Korea Electronics Show 2021, which is under way at an exhibition center in southern Seoul. He made the comments when asked whether Samsung will make an investment within this year. He did not elaborate, reports Yonhap news agency.
Separately, Kim said the company has been "calmly" preparing answers to a recent request by the US Department of Commerce about its semiconductor business. The US has asked global chipmakers, including Samsung, to share information on inventories and demanded other details by November 8 to "help improve trust and transparency within the supply chain." The request spawned concerns about the leak of chipmakers' major trade secrets. (IANS/ MBI)
Keywords: samsung, electronics, investment, US, chipmakers