Divide in VHP: RSS may axe Togadia, 2 others for attacks on Modi govt

New Delhi, Mar 4: The Supreme Court on Wednesday revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018.

Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'.

The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian.

The Internet and Mobile Association of India (IAMAI), whose members include cryptocurrency exchanges, and others had approached the top court objecting to a 2018 RBI circular directing regulated entities to not deal with cryptocurrencies.

Advocate Ashim Sood, appearing for IAMI, submitted that Reserve Bank of India lacked jurisdiction to forbid dealings in cryptocurrencies. The blanket ban was based on an erroneous understanding that it was impossible to regulate cryptocurrencies, Sood submitted.

The petitioners had argued that the RBI's circular taking cryptocurrencies out of the banking channels would deplete the ability of law enforcement agencies to regulate illegal activities in the industry.

IAMAI had claimed the move of RBI had effectively banned legitimate business activity via the virtual currencies (VCs).

The RBI on April 6, 2018, had issued the circular that barred RBI-regulated entities from "providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies".

Golaghat, Jul 18: A total of 96 animals have died in the Kaziranga National Park in Golaghat district of Assam due to floods, the state government informed on Saturday.

"So far, 96 animals have died in the park including eight rhinos, seven wild boars, two swamp deers, 74 hog deer and two porcupines," park officials said.

A report from the government of Assam stated that a total of 132 animals had been rescued from the Kaziranga National Park. The park is currently 85 per cent submerged under floodwaters.

"Water level at Pasighar and Dibrugarh are below the prescribed danger level. The floodwater in Numaligarh, Dhansirimukh and Tezpur are still above danger level," the report stated.

At least 76 people have died and nearly 54 lakh people have been affected in 30 districts of Assam due to floods caused by the monsoon rains and the rise in water levels of the Brahmaputra river, informed the Assam State Disaster Management Authority (ASDMA) on Friday.

New Delhi, Jun 9: Petrol price on Tuesday was hiked by 54 paise per litre and diesel by 58 paise a litre - the third straight daily increase in rates after oil PSUs ended an 82-day hiatus in rate revision.

Petrol price in Delhi was hiked to Rs 73.00 per litre from 72.46, while diesel rates were increased to Rs 71.17 a litre from Rs 70.59, according to a price notification of state oil marketing companies.

This is the third daily increase in rates in a row. Oil companies had on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.

Prices were raised by 60 paise per litre each on both petrol and diesel on Sunday as well as on Monday. In all, petrol price has gone up by Rs 1.74 per litre and diesel by Rs 1.78 a litre in three days.

Oil PSUs - Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) - had put daily price revisions on hold soon after the government on March 14, hiked excise duty on petrol and diesel by Rs 3 per litre each.

Oil companies did not pass on that excise duty hike, as well as the May 6 increase in tax on petrol by Rs 10 per litre and Rs 13 a litre hike on diesel by setting them off against the decline in retail prices that should have effected to reflect international oil rates falling to two-decade low.

International rates have since rebounded and oil companies having exhausted all the margin are now passing on the increase to customers, an industry official said.