0 0
SBI Cautions Customers against Bitcoins
India

SBI Cautions Customers against Bitcoins

Read Time:1 Minute, 2 Second

The State Bank of India (SBI) on Tuesday warned its customers with the potential threats of using Bitcoins but did not ban the use of credit cards for such investments. SBI cautioned its customers against Bitcoins under 5 points as discussed below-

  • Reserve Bank of India has not given any authorisation to operate any such crypto currency schemes or virtual currencies such as Bitcoins.
  • According to the statement of SBI, “Given concerns, both globally and locally, SBI Card would like to advise you to be mindful of potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with crypto-currencies and virtual currencies.”
  • Before the message of SBI, Citi Banks have also informed its customers that it has banned the usage of debit as well credit cards for the purchase or trading of virtual currencies.
  • Arun Jailtley, the current finance minister of India in the recent budget speech said that it considers crypto currencies or coin trade as illegal and will take all necessary measures to eliminate the usage of these virtual currencies as the part of the payment system.
  • The RBI has also clarified that it has not given any licence to any company to deal with Bitcoins or any other currency.
Happy
0 0 %
Sad
0 0 %
Excited
0 0 %
Sleepy
0 0 %
Angry
0 0 %
Surprise
0 0 %
Divya Sharma

Editor in Chief with Newsinheadlines, Author, Cover Story around Business and Entrepreneurship.

Recent Posts

Gwyneth Paltrow Biography | Age, Relationships, Career

Gwyneth Paltrow is an American actress and lifestyle entrepreneur, widely recognized for her portrayals of…

16 hours ago

Jake Paul and Mike Tyson officially banned from boxing after controversial fight

Jake Paul and Mike Tyson have both been handed 24-day suspensions by the Texas Department…

17 hours ago

Ross and Sacha’s Shocking Breakup After MAFS UK 2024: Sacha Opens Up About Their Relationship

One of the most shocking revelations from Married at First Sight UK 2024, aside from…

1 day ago

Bomb Cyclone Sweeps Through the Northwest US, Causing Widespread Damage

A powerful storm system struck the northwest US on Tuesday evening, bringing widespread power outages,…

3 days ago

Knox Jolie-Pitt’s striking Resemblance to Dad Brad Pitt Steals the Spotlight

Brad Pitt and Angelina Jolie's highly publicized and tumultuous relationship continues to make headlines, even…

4 days ago

Family Searches for Missing Hannah Kobayashi Last Seen at LAX and The Grove

The family of Hannah Kobayashi, a 30-year-old woman from Maui, Hawaii, is desperately seeking answers…

5 days ago