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-xZjGBOny.png "New Delhi close to trade agreements with the U.S.")
Madhabi Puri Buch, the Chairperson of the Securities and Exchange Board of India (SEBI), has underscored the urgency of adopting instant settlement processes for the nation's regulated markets to keep pace with the fast-evolving cryptocurrency sector. 
Leaders within India's crypto community have largely welcomed the country's decision to block websites of international crypto exchanges, including Binance, Huobi, and KuCoin. Nischal Shetty, the CEO of Indian exchange WazirX, has labeled this step as a move “towards greater regulatory clarity and control”. 
Blackstone takes 9.99% stake in India’s Federal Bank for $705M
American alternative asset manager Blackstone will invest about $705 million in India’s commercial lender Federal Bank via its Singapore subsidiary, acquiring a 9.99% stake. Subject to approvals, Blackstone will become the bank’s largest shareholder. Global money hunts India banks as US credit wobbles
Foreign cash is piling into Indian banks while US credit jitters spook investors elsewhere. Over the weekend, Emirates NBD lined up $3B for RBL Bank. Earlier, Abu Dhabi’s IHC agreed to buy into Sammaan Capital (~$1B), and SMFG moved on Yes Bank with $1.6B for 20%. 
As India enters a six-week electoral period, misinformation is on the rise. According to Pratik Sinha, co-founder of the Indian fact-checking website Alt News, this misinformation is particularly aimed at dividing society and often targets specific communities on social media. 
Amazon has decided to phase out its AI-powered cashierless 'Just Walk Out' system in its grocery stores. It turns out that, despite the use of automation technologies like cameras and sensors, the system still required the efforts of thousands of employees in India who were tasked with real-time product labeling verification. 
American spot Bitcoin ETFs are set to become accessible to Indian users through the Mudrex cryptocurrency investment platform, backed by the venture capital fund Y Combinator. Initially, only the four most popular ETFs from BlackRock, Fidelity, Franklin Templeton, and Vanguard will be offered for sale. 
The Indian government has raised an alarm over the proliferation of AI-generated fake content on social media and other digital platforms, particularly concerning its impact on the country's massive online user base of over 600 million people. Officials are wary of the unpredictable public response to such misinformation. 
For undisclosed reasons, Worldcoin has suspended the use of its eye scanner, Orb, for biometric verification in Brazil, India, and France. According to company representatives, this decision was made to comply with regulatory requirements in these countries. 
India's Minister of Finance, Nirmala Sitharaman, has verified ongoing discussions within the G20 about establishing an international framework for cryptocurrencies. She views digital assets as both a challenge and an opportunity. "In an interconnected world, financial technology transcends borders, therefore making cross-border partnerships absolutely crucial,” Sitharaman said. Previously, India's Prime Minister had also emphasized the need to embrace technological advancements and develop comprehensive global regulations.