Top headlines: Modi calls for regulating crypto; RBI says growth recovering

The Omicron-led third wave of Covid-19 may turn out to be “more of a flash flood than a wave” for the Indian economy, the RBI has said. More on that story in our top headlines Tuesday:

Synchronised global regulation of crypto needed: PM Modi at WEF

Prime Minister Narendra Modi on Monday called for synchronised global action to regulate cryptocurrencies, at a time when India is contemplating bringing a legislation to regulate such virtual currencies. Read more

In the works: National e-commerce policy to script arm's-length rulebook 

A national e-commerce policy, which has been in the works for close to three years, will direct e-tailers to be ‘fair’ and ‘non-discriminatory’ while providing cashbacks or reward offers to consumers, people aware of the matter told Business Standard. Read more

Jhunjhunwala the biggest draw as investors line up to board Akasa 

Veterans in the travel industry, a well-known corporate lawyer, and a marquee US-based hedge fund have backed the upcoming low-cost airline Akasa Air. Founded by former Jet Airways chief executive officer (CEO) Vinay Dube, the venture counts ace stock trader and investor Rakesh Jhunjhunwala as its biggest financial backer with an investment of around Rs 300 crore. Read more

Tesla's tryst with India: Apple may have a playbook for Musk to follow 

Tesla’s tryst with India is clearly not going as smoothly as it may have expected. 

That is why last week, two years after Elon Musk first announced that his company would come to India, then registering a firm in Bengaluru to import cars and holding discussions on setting up company-owned retail showrooms, the maverick entrepreneur’s terse Twitter response to a query was: “Still working through a lot of challenges with the government.” Read more

Omicron a flash flood, not a wave, economic recovery remains strong: RBI 

The Omicron-led third wave of Covid-19 may turn out to be “more of a flash flood than a wave”, and the Indian economy could rebound to pre-pandemic levels, according to the Reserve Bank of India’s (RBI’s) State of the Economy report released on Monday. Read more