Top headlines: Das says cryptos have no underlying value; M&M Q3 net surges

Here are the top headlines on Thursday

Cryptos don't have any underlying value, not even a tulip: RBI Governor

RBI Governor Shaktikanta Das on Thursday made it clear that private cryptocurrencies are a threat to macroeconomic and financial stability, and undermine its ability to deal with challenges on the two fronts.

Cautioning investors, the governor said such assets have no underlying whatsoever, “not even a tulip”.

The comments are a reiteration of institutional concerns on such assets expressed earlier but assume significance because they come days after the Union Budget put a 30 per cent tax on gains made on such assets. Read more here

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