jaspreet kalra

Rattled by nearly $17 billion in foreign outflows this year, India is doubling down on financial sector reforms in a push to beef up capital buffers and lift investment in the country amid wider worries about the economic hit from U.S. tariffs.

Cryptocurrency exchange Coinbase Global said on Wednesday it had made an investment in CoinDCX, which the Indian crypto exchange said values it at a post-money valuation of $2.45 billion.

The Indian rupee came within a whisker of its all-time low on Monday but managed to hold above it on likely intervention by the central bank, with news of the Indian trade delegation's visit to the U.S. also offering modest relief.

At the world's largest gathering for the financial technology sector in Mumbai this week, more than 800 speakers tip-toed around two topics that have captured attention globally: cryptocurrencies and stablecoins.

London-based digital finance firm Revolut said on Wednesday it will launch its payment platform in India, its first foray into one of the world's largest digital payments markets, as part of a planned global expansion.

The Indian rupee lumbered in a tight band on Wednesday, holding above its all-time low even as the U.S. dollar continued to charge higher, with traders pointing to likely central bank intervention to support the local currency.

India will allow users to approve payments made through popular domestic payments network, the Unified Payments Interface, using facial recognition and fingerprints starting October 8, three sources directly familiar with the matter said on Tuesday.

The Indian rupee held in a tight band on Monday, staying just above its record low as likely intervention by the Reserve Bank of India helped stave off pressure stemming from local importers' steady dollar demand.

The Reserve Bank of India likely intervened to support the rupee on Monday as the currency was hovering just shy of its all-time low, pressured by persistent dollar demand from local importers, three traders told Reuters.

The Indian rupee closed slightly weaker on Friday, steadying just above its all-time low, but sentiment remained skewed against the currency on the back of ongoing U.S.-India trade frictions and portfolio outflows.