Category Archives: finance

FT: Circle’s Push for Reversible Transactions Rattles Crypto Purists

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**Circle’s Proposal to Enable Reversible Stablecoin Transactions Sparks Backlash**

Circle, a prominent stablecoin issuer, has ignited controversy with its recent proposal to introduce reversible transactions. This concept directly challenges one of the core tenets of blockchain technology: immutability.

The push for reversible transactions has drawn criticism from various stakeholders who argue that allowing transaction reversals undermines the foundational principle that blockchain records are permanent and tamper-proof.

Circle’s president, Heath Tarbert, suggested that implementing reversible transactions could offer benefits such as enhanced security and consumer protection. However, critics remain concerned about the potential implications for trust and reliability within blockchain networks.

As the debate unfolds, the blockchain community continues to examine the balance between innovation and preserving the integrity of decentralized systems.

*Source:*
https://bitcoinethereumnews.com/crypto/ft-circles-push-for-reversible-transactions-rattles-crypto-purists/?utm_source=rss&utm_medium=rss&utm_campaign=ft-circles-push-for-reversible-transactions-rattles-crypto-purists

Mumbai Fraud: Builder Duo Duped Of ₹1.85 Crore In Fake ₹50 Crore Loan Scam; Vinoba Bhave Nagar Police Register 2 FIRs

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**Mumbai Construction Businessmen Duped of Rs 1.85 Crore in Elaborate Loan Fraud**

In a shocking case of financial fraud, two construction businessmen have been cheated of a total Rs 1.85 crore by scammers posing as loan arrangers promising Rs 50 crore loans for their businesses. The Vinoba Bhave Nagar police have registered two separate FIRs and launched detailed investigations into the matter.

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### First Case: Advocate and Brother-in-Law Defrauded of Rs 1.37 Crore

Advocate Prasad Gurunath Shelke (44), a resident of Shirgaon Yadavnagar, Badlapur East, filed a complaint alleging that he and his brother-in-law, Avinash Bhoir, were duped of Rs 1.37 crore.

According to Shelke’s statement, in 2023, Bhoir was seeking a substantial loan to expand his construction business. Shelke approached his friend, Atul Bhopi, who connected him with Khalid Khan, proprietor of S.K.K. Builders and Developers. Khan claimed he could arrange large loans secured only by post-dated cheques, without requiring immediate collateral.

In June 2023, Shelke and Bhoir met Khan, who offered to secure a loan of Rs 50 crore but demanded 1.25% of the loan amount as “stamp duty” charges. Following this, Rs 62.5 lakh was paid in July 2023.

Khan also collected their PAN cards, Aadhaar cards, and cancelled cheques, stating that the loan process would be initiated through Central KYC and the funds credited shortly. He reassured them that the transaction would be legal and under proper RBI approval.

However, by August 2023, no loan had materialized. Upon inquiry, Khan promised the funds would be released by December and requested additional payments to expedite the process. Trusting him, Shelke made further payments into bank accounts linked to Khalid Khan, Rinku Rajguru, and Nimit Digra of Nimit Exim House. A further Rs 75 lakh was paid in cash, bringing the total amount lost to Rs 1.37 crore.

When the loan remained undisbursed, Shelke grew suspicious and filed an official complaint. The police have since named Khalid Khan, Nimit Digra, and Gurudeep Singh alias Rinku Singh Rajput as accused in this financial scam.

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### Second Case: Pune Builder Loses Rs 76 Lakh in Similar Fraud

In a separate but similar incident, Pune-based builder Arimardan Ramsumer Singh (43), who runs AMS Buildtech Pvt. Ltd., was allegedly cheated of Rs 76 lakh by Khalid Khan and Nimit Digra.

Singh was introduced to Nimit Digra in August 2023 by a business acquaintance, Awadh Kishore Thakur. Digra presented himself as Khalid Khan’s manager and arranged a meeting with Khan. Khan claimed he could secure a Rs 50 crore loan from SKK International Builders and Developers, located at Premier Residency, Kohinoor City, Kurla (West), Mumbai.

Khan demanded a 2% processing fee for the loan. When Singh stated he could not pay the full amount upfront, he was asked to pay 50% initially.

On September 21, 2023, Singh transferred Rs 11 lakh via RTGS into the finance company’s account. Later, on October 6, he issued an ICICI Bank cheque worth Rs 65 lakh, which was deposited into Nimit Exim House’s account.

Despite these payments, Singh never received the loan. When he demanded a refund, Khan delayed and dodged the repayment. Singh deposited a cheque given by Khan, but it bounced. After repeated follow-ups, Singh managed to recover Rs 28 lakh, but Rs 48 lakh remained unpaid.

Frustrated and convinced he was defrauded, Singh filed an official complaint with the Vinoba Bhave Nagar Police Station against Khalid Khan and Nimit Digra.

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### Police Action and Investigation

The Vinoba Bhave Nagar police have registered two separate FIRs under Sections 316(2), 318(4), and 3(5) of the Bharatiya Nyaya Sanhita (BNS) related to these fraud cases and are actively investigating the matter.

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**Stay Informed:**
For exclusive and budget-friendly property deals in Mumbai and surrounding areas, visit [Budget Properties](https://budgetproperties.in/).
https://www.freepressjournal.in/mumbai/mumbai-fraud-builder-duo-duped-of-185-crore-in-fake-50-crore-loan-scam-vinoba-bhave-nagar-police-register-2-firs

Ethereum Treasuries Seen as Gateway for Traditional Assets, Says SharpLink

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Ethereum Treasury Firms May Soon Evolve Beyond Crypto, Says SharpLink Gaming CEO

Joseph Chalom, CEO of SharpLink Gaming and former BlackRock executive, shared insights at Korea Blockchain Week 2025, suggesting that Ethereum treasury firms could soon expand their scope beyond the cryptocurrency market. According to Chalom, the real opportunity lies not just in the $4 trillion crypto market cap but in the vast $700 trillion traditional asset market, which has the potential to migrate to decentralized networks.

Chalom emphasized blockchain technology’s ability to eliminate settlement delays and reduce costs, calling it the greatest risk reduction in financial history. He believes that Ethereum treasuries should move beyond merely accumulating ETH. Instead, they should focus on building businesses that lend, validate transactions, and seed new protocols to accelerate institutional adoption.

Digital asset treasuries (DATs) have quickly become one of the fastest-growing niches within crypto, offering investors a level of flexibility that surpasses traditional ETFs. Dan Kang, from DeFi Development Corp, compared DATs to speedboats—faster and more adaptable than passive investment vehicles.

Both Kang and Chalom agreed that the survival and success of DATs depend heavily on growth metrics such as liquidity, trading activity, and the ability to increase assets per share. While most DATs were launched during a bull market, they downplayed concerns about downturn risks by highlighting staking and on-chain strategies that generate organic yield.

Kang added that buybacks could become a sensible strategy in the future, provided they do not involve selling core holdings. Meanwhile, Chalom stressed SharpLink’s long-term vision: “We’re not chasing a 5% ETH stake just to sit on it.” The ultimate goal, he said, is to transform finance by demonstrating how decentralized networks can effectively support markets on a global scale.

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**Disclaimer:**
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

—

**About the Author:**
Alexander Zdravkov is a reporter at Coindoo who always seeks the logic behind things. Fluent in German, he brings over three years of experience in the crypto space, expertly identifying emerging trends in digital currencies. Whether providing in-depth analysis or daily updates, his deep understanding and enthusiasm make him a valuable member of the Coindoo team.
https://coindoo.com/ethereum-treasuries-seen-as-gateway-for-traditional-assets-says-sharplink/

Gold & Silver Retreat from Peaks Amid Federal Reserve’s Rate Cut Uncertainty

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New Delhi: Gold and silver prices pulled back from their record highs in futures trading on Wednesday as traders booked profits at elevated levels, dragging the precious metals lower. Markets were also digesting cautious remarks from US Federal Reserve Chair Jerome Powell regarding the outlook for potential interest rate cuts.

On the Multi Commodity Exchange (MCX), gold futures for October delivery dropped Rs 408, or 0.36%, to Rs 1,13,428 per 10 grams. This came after the metal hit an all-time high of Rs 1,14,179 per 10 grams on Tuesday. Similarly, the December contract for gold fell Rs 353, or 0.31%, to Rs 1,14,486 per 10 grams following a lifetime peak of Rs 1,15,139 per 10 grams.

Silver futures also eased, retreating from their recent highs amid profit-taking. The white metal futures for December delivery slipped Rs 221, or 0.16%, to Rs 1,34,841 per kilogram. The March contract for next year shed Rs 121, or 0.09%, to Rs 1,36,271 per kilogram.

Globally, bullion prices retreated from historic peaks. Gold futures for December delivery traded 0.44% lower at USD 3,799.07 per ounce, after touching a record high of USD 3,824.60 per ounce on Tuesday. Silver futures for December delivery also slipped 0.44%, settling at USD 44.41 per ounce.

Commodities market experts attributed the decline primarily to profit-taking and caution following Federal Reserve Chair Jerome Powell’s remarks. Powell emphasized that there is no “risk-free path” for monetary policy. He warned that cutting rates too aggressively could force the Fed to reverse course if inflation continues, while holding policy restrictive for too long could harm the labor market.

On Tuesday, Powell reiterated a balanced approach to monetary easing, cautioning that cutting rates too quickly might risk leaving “the inflation job unfinished,” whereas delaying easing for too long could unnecessarily weaken the labor market. He added that current policy remains “modestly restrictive,” allowing the Fed some room to respond to changing economic conditions.

Last week, the US central bank lowered its benchmark rate by 25 basis points. Market participants are currently pricing in the likelihood of two additional reductions before the end of the year, a factor that helped cap losses for bullion.

Meanwhile, heightened geopolitical tensions in Eastern Europe and the Middle East supported safe-haven demand, limiting the downside for gold and silver prices, analysts noted.

*Disclaimer: This story is from a syndicated feed. No changes have been made except to the headline.*
https://www.freepressjournal.in/business/gold-silver-retreat-from-peaks-amid-federal-reserves-rate-cut-uncertainty

Tata Capital eyes valuation of $16.5B for its $1.85B IPO

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**Tata Capital Eyes Valuation of $16.5 Billion for Its $1.85 Billion IPO**

*By Dwaipayan Roy | Sep 23, 2025, 8:03 PM*

Tata Capital, the financial services arm of the Tata Group, is preparing for a significant initial public offering (IPO) scheduled for early October. The company is targeting a post-money equity valuation of approximately $16.5 billion (around ₹1,46,000 crore) for the listing, according to sources cited by Moneycontrol.

**IPO Launch Details**

The IPO is expected to open for public subscription on October 6, with the anchor portion likely to be allotted on October 3. The total size of the IPO—which includes a fresh issue of shares as well as an offer for sale by Tata Sons and the International Finance Corporation—is estimated at about $1.85 billion (nearly ₹16,400 crore). Life Insurance Corporation of India (LIC) is anticipated to be a major investor in this offering.

**Utilization of Funds**

Proceeds from the IPO will primarily be used to strengthen Tata Capital’s Tier-I capital base. This enhancement will support the company’s future capital requirements and facilitate onward lending activities. For this significant IPO, Tata Capital has enlisted the legal services of Cyril Amarchand Mangaldas, AZB & Partners, and Latham & Watkins.

Despite recent challenges in the non-banking financial company (NBFC) market space, Tata Capital remains optimistic about its upcoming public listing.

**Business Overview**

Tata Capital, classified as an upper-layer NBFC by the Reserve Bank of India (RBI), began its lending operations in 2007. Since then, it has served over seven million customers across India.

The company offers an extensive portfolio of more than 25 lending products catering to salaried and self-employed individuals, entrepreneurs, small businesses, SMEs, and corporates. Apart from lending, Tata Capital also distributes third-party financial products, including insurance and credit cards.

As of March 31, 2025, retail and SME customers accounted for 88.5% of the company’s total gross loans. Tata Capital supports its operations through a pan-India distribution network comprising nearly 1,500 branches.

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Stay tuned for more updates on Tata Capital’s IPO and its progress in the financial services sector.
https://www.newsbytesapp.com/news/business/everything-we-know-about-tata-capital-s-mega-ipo/story

Income Tax Refund Still Not Credited? This Shocking Reason Behind The Delay Will Surprise You

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**Income Tax Refunds Delayed Due to Detection of Fake Claims Under Old Tax Regime**

*New Delhi:* If you filed your Income Tax Return (ITR) on or before 16 September 2025 and are expecting a refund, this update is important for you. Many taxpayers have reported delays in receiving their refunds this year. After investigating, the Income Tax Department has identified the primary reason behind these delays.

### Fake Tax Deductions Discovered Under Old Tax Regime

The department uncovered that a significant number of taxpayers made incorrect claims for tax deductions, predominantly under the Old Tax Regime. These fraudulent claims included fake medical expenses and bogus donations. Leveraging advanced computer systems and Artificial Intelligence (AI), the department was able to detect these false claims effectively.

### Fake Claims Worth Rs 700 Crore Detected

The Income Tax Department caught fake claims amounting to approximately Rs 700 crore. Most of these fraudulent claims were made by individuals earning more than Rs 20 lakh per annum. This has consequently slowed down the refund processing this year.

A senior official revealed that many taxpayers who previously made fake claims are repeating the same fraudulent activities this year.

### Why Are Refunds Taking More Time?

Refund processing is taking longer than usual due to ongoing investigations into these false refund claims. Delays are especially pronounced in cases where the refund amount exceeds Rs 10 lakh.

Compared to last year, the total refunds issued have decreased by 24 percent. Up to 17 September, the department has released Rs 1.60 lakh crore in refunds, whereas last year it was Rs 2.10 lakh crore.

### Actions Taken by the Income Tax Department

The Income Tax Department launched a nationwide investigation in July targeting individuals who filed fake claims and incorrect tax deductions. As a result:

– 30,161 taxpayers declared foreign assets worth Rs 29,208 crore and foreign income totaling Rs 1,089 crore.
– Taxpayers withdrew fake claims amounting to Rs 963 crore.
– An additional Rs 409.50 crore in tax has been deposited by these taxpayers.

### Notices Being Sent to Taxpayers

The department has begun issuing notices to taxpayers who made incorrect claims, giving them an opportunity to rectify their tax returns. A senior official stated that efforts are underway to clear the pending refunds as quickly as possible.

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If you have filed your return and are awaiting a refund, it is advisable to keep track of any communication from the Income Tax Department and respond promptly to avoid further delays.
https://www.freepressjournal.in/business/income-tax-refund-still-not-credited-this-shocking-reason-behind-the-delay-will-surprise-you

Nissan Unveils AI-Powered Prototype Car

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Long-term interest rates in Japan, which influence fixed mortgage rates, rose to their highest level in 17 years. On September 22nd, the yield on 10-year government bonds briefly reached 1.665 percent, marking the highest point since 2008.

In an innovative approach to electricity demand control, frozen tuna stored at minus 60 degrees Celsius are now being utilized as a cooling agent. By temporarily shutting down refrigeration units and relying on the fish itself to maintain storage temperatures, companies are beginning to reduce power consumption effectively.

The Consumer Affairs Agency has announced suspicions of stealth marketing practices involving Ajinomoto and Inglewood concerning their frozen home-delivery meal brand, “Aete.” It is alleged that the companies asked individuals to post about the products on social media in exchange for free items, later republishing those posts on their sales sites.

Seven-Eleven Japan has completed a large-scale overhaul of the store system used by approximately 21,000 outlets nationwide. This milestone, achieved five years after the project was conceived, represents a major step in digital transformation. The new cloud-based system replaces the company’s traditional infrastructure and is designed to enhance efficiency and customer service.

On September 19th, the Bank of Japan decided to maintain its policy interest rate at 0.5 percent, marking the fifth consecutive meeting without a rate change. Backed by a majority of the Policy Board, the decision reflects the central bank’s cautious approach as it continues to monitor the impact of U.S. tariffs, commonly known as the Trump tariffs.
https://newsonjapan.com/article/146970.php

Tim Draper Projects Bitcoin and Blockchain to Lead Next Era of Global Finance

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Bitcoin is Barreling Toward Global Financial Dominance as Blockchain Becomes Vital to National Defense

Tim Draper warns governments to act fast or risk falling behind in the rapidly evolving landscape of digital currency and blockchain technology.

Tim Draper: Bitcoin and Blockchain Will Define the Future of Money and National Stability

The convergence of cryptocurrency, national security, and law enforcement has emerged as a pressing topic as governments worldwide evaluate the impact of these technologies on financial systems and defense strategies. As blockchain increasingly underpins critical infrastructure, its role in ensuring national stability cannot be overstated.

With Bitcoin leading the charge as a decentralized financial asset, Draper emphasizes the urgency for governments to adapt quickly. Failure to do so may result in diminished influence over monetary policies and economic control on the global stage.

https://bitcoinethereumnews.com/bitcoin/tim-draper-projects-bitcoin-and-blockchain-to-lead-next-era-of-global-finance/?utm_source=rss&utm_medium=rss&utm_campaign=tim-draper-projects-bitcoin-and-blockchain-to-lead-next-era-of-global-finance

How Modi government plans to boost municipal bond issuance

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**How the Modi Government Plans to Boost Municipal Bond Issuance**
*By Dwaipayan Roy | Sep 21, 2025, 06:47 PM*

The Indian government is considering increasing the interest subvention cap beyond the existing limit of ₹26 crore per Urban Local Body (ULB) to promote the issuance of municipal bonds for urban infrastructure development. This initiative is part of the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme.

### Slow Progress Despite Key Initiatives

Despite flagship programs like AMRUT and the Smart Cities Mission, progress in mobilizing funds through municipal bonds—often called ‘muni bonds’—has been slower than expected. To address this, the government aims to enhance incentives and institutional support to encourage more ULBs to access the capital markets.

### Understanding the Interest Subvention

The interest subvention is a financial incentive provided under AMRUT to make municipal bonds more attractive to issuers and investors. Currently, the maximum interest subvention available to a ULB from the Ministry of Housing and Urban Affairs (MoHUA) is capped at ₹26 crore.

To stimulate market participation, the central government offers a 2% interest subvention on bond issuances by ULBs.

### Incentive Structure for Bond Issuance

– **First Bond Issuance:**
ULBs can receive incentives up to ₹13 crore for every ₹100 crore raised, with an overall cap of ₹26 crore under AMRUT 2.0.

– **Subsequent Issuances:**
Bonds issued must be classified as green bonds, focusing on sectors such as water, sanitation, renewable energy, or urban resilience.
In such cases, ULBs are eligible for incentives of ₹10 crore per ₹100 crore raised, subject to a cap of ₹20 crore.

### Institutional Support from NaBFID

The National Bank for Financing Infrastructure and Development (NaBFID) is set to play a crucial role in supporting ULBs throughout the bond issuance process. The bank may empanel agencies including merchant bankers, brokers, and rating agencies to provide expert guidance.

As a development finance institution, NaBFID will assist municipal bodies with statutory paperwork and ensure compliance with the Securities and Exchange Board of India (SEBI) listing requirements — simplifying access to capital markets for infrastructure projects.

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By expanding financial incentives and offering institutional support, the Modi government seeks to unlock the potential of municipal bonds as a vital tool for urban infrastructure development, enabling cities to better meet the growing needs of their populations.
https://www.newsbytesapp.com/news/business/municipal-bonds-goi-considers-raising-interest-subvention-cap-for-ulbs/story

Opinion: The importance of teaching our children the financial basics

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Financial literacy is more important than ever. A recent study by Bank of America found that about 40% of older teens and young adults from Gen Z still rely on family for financial support, highlighting just how expensive becoming an adult can be today.

Studies also show that instilling financial basics at younger ages can pay greater dividends for future money habits. Yet, most schools have only just begun to add basic financial know-how to their course curriculums. Here in California, students will be required to take a semester-long personal finance course to graduate from high school, but that doesn’t go into effect until the class of 2030-31.

In the meantime, parents and educators continue to look for resources that introduce financial education in a way that will resonate with young minds. We believe that fostering financial literacy at an early age, with age-appropriate information, is key to building the next generation of financially responsible individuals.

Here are a few tips for introducing financial concepts to children to set them up for a lifetime of informed, confident decision-making.

### Start Early at Home

One of the best ways to ensure children develop strong financial habits is to introduce basic concepts of money and budgeting as early as possible. Even at a young age, kids can begin to understand simple ideas like the value of saving versus spending.

Begin by explaining where money comes from, why we need it, and how it can be exchanged. Using age-appropriate language—such as talking about saving for something special or explaining how buying one thing today means you can’t buy other things until you have more money—can make these concepts relatable.

### Teach with Examples

The best way to teach kids about money is by incorporating financial lessons gradually into everyday activities. Situations like shopping for their favorite grocery items, setting a budget for a family outing, or even saving for a toy offer perfect opportunities to discuss money.

Teaching your child with a hands-on approach during real-life events offers them practical understanding without the need for formal lessons.

### Utilize Community Resources

There are a variety of free financial literacy programs designed for people of all ages. For example, Bank of America’s Better Money Habits content is not only provided free on its website but is also taught by a team of more than 100 of its bankers in San Diego in partnership with local schools, universities, and nonprofits.

Bank of America also partners with local nonprofits such as Junior Achievement, which provides school-age financial education in classrooms. More and more financial institutions are supporting the entire family with household financial services.

One example is Bank of America’s new SafeBalance Banking, a bank account that offers parents the ability to help their children practice healthy financial habits and learn to manage their money through a convenient, secure digital experience. Parents can maintain oversight of their child’s spending, supervise the account, and even teach them the responsibility of managing a physical debit card.

Financial basics are a vital skill that can set children up for a successful future. By working together, families, educators, and community partners can prioritize financial education and help children build the foundation they need for a lifetime of smart financial decisions.
https://timesofsandiego.com/opinion/2025/09/20/importance-teaching-our-children-financial-basics/