“With the passage of time, the country that does not adopt modern technology, time moves ahead leaving it behind. India was a victim of this during the Third Industrial Revolution. But today we can proudly say that India is guiding the world in the fourth industrial revolution,” Modi said.
The investors said in a June 29 letter to the Sebi chairman that news about the potential acquisition had been reported in the press and was doing the rounds on social media for more than a month before the deal was announced.
Volumes on WazirX were down the most at 82%, according to data sourced from crypto research and consulting firm Crebaco. The decline was almost 70% on CoinDCX and 76% on ZebPay.
While crypto exchanges say it is too early to know the actual impact of tax deducted at source (TDS) as trading volumes are typically lower on the weekend, some experts said trading would likely remain under pressure.
Sikaria is leading some of the new initiates at the Walmart-backed company. He led the acquisition of used smartphone seller Yaantra and Cleartrip. He is also in charge of leading Flipkart’s monetisation efforts, which includes the advertisement business.
In the last two years, the bank has doubled its headcount in India to 5,000, primarily in tech, but also in other roles. It will add another 2,500 people this year to “cater to growth and backfill roles”, he said.
This in an 80% expansion in value for the company, which was last valued at $ 2.5 billion following the close of a $315 million round in July 2021 that was led by Singapore’s Temasek, which has also invested in the latest funding.