Top headlines: India to ban private cryptos; Paytm hurts unlisted shares

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In a setback for cryptocurrencies, India’s government has listed a bill for Parliament that seeks to ban private cryptocurrencies in India.

More on that in today’s top headlines

Bill to ban private cryptocurrencies to come up in Winter Session

The government has listed a bill for the upcoming winter session of Parliament, starting November 29, seeking to ban all private cryptocurrencies. This is among the 26 pieces of legislation, including the repeal of three farm laws, listed for the session.

The price of Bitcoin was down sharply from Rs 46 lakh to Rs 40 lakh in just about 90 minutes after this news came in. Read more

Private hospitals sitting on 10 million unused Covid-19 vax doses

Amid dwindling demand and an impending decision on Covid booster shots, private hospitals have started to liquidate their vaccine stock nearing expiry by giving free jabs to citizens. Private hospitals are sitting on 10 million unused doses, of which 15-20 per cent will expire next month, said Girdhar Gyani, director-general of the Association of Healthcare Providers (India). Read more

Spoiling the party: Paytm debacle roils market for unlisted shares

Paytm’s dismal debut on the stock exchanges has roiled the market for unlisted shares, with the prices of several regularly-traded scrips falling as much as 40 per cent this week.

Platforms facilitating trading in unlisted shares fear that investors’ interest in pre-IPO and unlisted stocks may diminish as the unprecedented sell-off in Paytm shares has shattered confidence. Read more

Have not determined yet on potential CAATSA waiver to India on S400: US

The United States has not made a determination yet on any potential Countering America’s Adversaries Through Sanctions Act (CAATSA) waiver to India with regard to its purchase of S-400 missile defense system from Russia, the Biden Administration said Tuesday. Read more

Festivities, sporting events lift TV advertising volumes, up 11% in Oct

Advertisement volumes on television (TV) continued to witness growth during the festival period in October. Advertising volumes were up 11 per cent year-on-year in the month gone by, at 178 million seconds, according to the Broadcast Audience Research Council (BARC) India report THINK. Read more

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