[Why RBI Imposed a BAN of CRYPTOCURRENCY ?]

Why RBI Imposed a BAN of CRYPTOCURRENCY ?

Because they do not want virtual currency trade in India as they think it will adversely affect the banking system of India.
RBI also gave the statement that cryptocurrencies lacks intrinsic value and are not safe .

ARE CRYPTOCURRENCIES UNCONSTITUTIONAL ACCORDING TO RBI ?

There are no such laws in Indian Constitution which claims trading , mining or sending bitcoins as a illegal process.
There are almost 5 millions users who are working in crypto field.
A BAN on bitcoin trading was imposed by RBI years before in India but it was lifted off on march 2020 and bitcoins was declared completely legal .

If there is a clean path from RBI now , Do you think bitcoins and crypto activities are soon going to start in India at a huge level ? 

[banning 50+ Chinese apps]

Government of India took a huge decision by banning 50+ Chinese apps which were very popular in India by giving the reason that intelligence agencies suggested government to ban these apps because they were a threat to our nations defense , sovereignty and were also compromising with users privacy .
It's a heavy digital attack on china amid border tension by India .
Ministry of Electronics and Information Technology issued this order on 29th JUNE 2020.
Now it's a tough call for some people  to find replacement of some apps which were heavily used like SHARE IT AND CAM SCANNER but it's really a appreciable decision by GOI and all citizens must follow it in nations support.

JAI HIND !

LIST OF BANNED APPS -
1 TikTok
2 Shareit
3 Kwai
4 UC Browser
5 Baidu map
6 Shein
7 Clash of Kings
8 DU battery saver
9 Helo
10 Likee
11 YouCam makeup
12 Mi Community
13 CM Browers
14 Virus Cleaner
15 APUS Browser
16 ROMWE
17 Club Factory
18Newsdog
19 Beutry Plus
20 WeChat
21 UC News
22 QQ Mail
23 Weibo
24 Xender
25 QQ Music
26 QQ Newsfeed
27 Bigo Live
28 SelfieCity
29 Mail Master
30 Parallel Space
31 Mi Video Call — Xiaomi
32 WeSync
33 ES File Explorer
34 Viva Video — QU Video Inc
35 Meitu
36 Vigo Video
37 New Video Status
38 DU Recorder
39 Vault- Hide
40 Cache Cleaner DU App studio
41 DU Cleaner
42 DU Browser
43 Hago Play With New Friends
44 Cam Scanner
45 Clean Master - Cheetah Mobile
46 Wonder Camera
47 Photo Wonder
48 QQ Player
49 We Meet
50 Sweet Selfie
51 Baidu Translate
52 Vmate
53 QQ International
54 QQ Security Center
55 QQ Launcher
56 U Video
57 V fly Status Video
58 Mobile Legends
59 DU Privacy

[WHY UPI BECAME POPULAR IN INDIA?]

WHY UPI BECAME POPULAR IN INDIA?

UPI is a merger platform which merges and collects  almost all the banking services of India in one app.

It's easy to use because we just need the UPI ID and pin to send and receive amount.
We can perform Real-time bank-to-bank transfer services by just using your phone number or unique ID.


WHO CONTROLS UPI?

UPI is under NPCI (National Payments Corporation of India) , RBI and IBA ( Indian Banks Association) which are the trusted organizations of India.
 These platforms interconnects all the banks for fund transfer services.

WHY UPI?

Before the UPI services launched in India the process of fund transfer was very hectic and difficult.
People were unable to trust third party apps for fund transfers therefore they preferred either to stand in long queues of banks or do it via Internet Banking which was done very rarely (if compared to bank users) because it was very complex and time taking.
 
But after the commencement of cheap internet in India (THANKS TO JIO SERVICES) and government supporting online transactions , the users and UPI apps increased very rapidly which made bank fund transfers very easy and convenient.
Earlier before UPI was introduced . I was the only one in my house who use to transfer amount via net banking . But after UPI came my father used to send me my college fee and pocket money directly via Gpay , BHIM , PhonePE which made his work very easy.
He now started doing TV recharges and pay electricity bills by his own just after these apps were introduced as they are very easy to use and safe too.

There was another reason he started trusting online mode of payment because government also promoted online cashless transactions to avoid corruption in our nation.
As per report around Rs.8,000 crore worth transactions are being made every day via UPI Transfer.

WHAT IS BITCOIN NOT PREFERRED OVER UPI AS A MODE OF TRANSACTION IN INDIA YET ?

Digital currency is upcoming future of world but it's not yet recognized in India.
Indian experts claims that UPI mode is the most advanced and safe platform for payment and they don't need bitcoins as a mode of exchange.
They also predicts that it will increase new form of corruption in India .

What is your opinion  ? What will you prefer if BTC will become a legal mode of transaction ?
Share your views.

[AFTER COVID19 -]

AFTER COVID19 -

After this huge pandemic came to India more than 140 million people lost their work and income.
Till date more than 14000 cases are increasing everyday in india and more than 54% private businesses have been shut downed.
Prime Minister Narendra Modi has launched package of 20lack crores which include many relief schemes for those who lost their jobs, whose startup fell down and also for those labors and workers who migrated back to their hometown after losing their jobs and homes.
Even the biggest companies of India like TATA, BHEL and ADITYA BIRLA has reduced their production because of fewer demands and economical strains.
Government is also failing to generate revenue as sources like revenue from tourism, export-import trade have almost stopped and unemployment is increasing day by day which resulted in less tax collection.
All e-commerce sites were shut down during first 3 phases of lock down and which gave them huge loss. All public cinemas and sports centers are stil closed which were a good tax source for government.

CONCLUSION -
After every possible effort done to boost economy even during this complex situation by government the Indian Economy is going down day by day. GDP is shrinking constantly even almost all buisnesses were resumed after 3rd phase of lock down.
Even economy can be more affected after disturbed Indochina trade relations.
Government is focusing more on to provide better medical facilities and treatment to Covid affected people (which must be its first priority) by ignoring local disturbed economy.
Many factories are unable to increase their work production because they are now facing shortage of labor.

SOLUTION -

Every Indian needs to support each other as Indian Government is asking everyone to help the local traders and manufactures by giving the slogan ‘vocal about local’.
Many developed countries failed to fight with Covid19 but Indian government is still haven't lost the hope and now it is our duty to push our economy.
NO government can not do everything alone because it's the first time for everyone in this world who is dealing with such medical and economic crisis.
Government is asking people to purchase all the locally made products and goods which is a great initiative.
It's time to get united and support each other to avoid future economic pressures.