Tata Consultancy Services which is famous as India’s largest information technology services company is of the saying that it can see good deals wins coming the way through new areas in its business as cryptocurrency exchanges. According to N. Ganapathy Subramaniam, Chief Operating Officer at TCS mentioned in some post-earnings press conference that perfect deal wins are seen this quarter.
Such comment given by TCS is indicative of instant growth which the cryptocurrency company in the country is noticing, although having uncertainties with regulations. To this, CoinSwitchKuber became greater than India’s largest Stockbroker Zerodha in concern with user base.
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Growth In Cryptocurrency Area
There is speedy growth in cryptocurrency field due to the speedy acceptance of digital asset by the Indian investors in particular to the young ones. As it is well known that India is one of the speedily up growing areas in the world in concern with cryptocurrency’s acceptance.
The influence of the Indian Cryptocurrency at global level has achieved the top level with the aid of CoinSwitchKuber after the rise of fresh capital from Andreessen Horowitz having value of $1.9 billion. Alongwith this growth, rise in this sector is insecure with regulatory uncertainty, in particular cause of the expected action by government to introduce a bill in parliament for banning each and ever private cryptocurrency and thereby launching central bank’s digital currency.
Reserve Bank Of India
RBI has most often shown concern in relation to cryptocurrencies in lieu with RBI Governor Shaktikanta Das who had recently asked cryptocurrency space for proving its worth for economic growth of India.
Although most of the population is attracted towards cryptocurrency world and during COVID time, it has played a vital role in the economic growth of India. As many people have diverted their work online and trading with digital currency was easy and profitable for them so this push towards investing online had benefited India, apart from the regulatory framework missing. Cryptocurrency Exchanges have also profited out of this due to investors trading through this medium with cryptocurrency coins. This is so because there is expected information from the government to soon put some regulations on this industry, till then investors play safe with the present Blockchain Technology present in their transactions.
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