Arvind Panagariya, Professor of Economics and Jagdish Bhagwati Professor of Indian Political Economy at Columbia University, is the Chairman of the 16th Finance Commission. Panagariya, who was the first Vice Chairman of the NITI Aayog and is a former Chief Economist of the Asian Development Bank, has a PhD in Economics from Princeton University. In an interaction with Business Today TV Managing Editor Siddharth Zarabi at the recent Business Today Banking & Economy Summit held at GIFT City, Gandhinagar, the 71-year-old economist says it is a good time to privatise public sector banks as they are now in good health, are flourishing, and have solid value. Edited excerpts
India s Minister of Finance, Nirmala Sitharaman said on Tuesday that cryptocurrencies are a very important part of the discussion under India s G20 presidency. aaa
India s money laundering laws will apply to trade in cryptocurrencies, the Reuters reported citing a government notification dated 7 March 2023. It is said that the exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under money laundering laws. aaa
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