Most existing cryptocurrencies won’t survive, predicts Raghuram Rajan

News Network
November 24, 2021

New Delhi, Nov 24: Former RBI Governor Raghuram Rajan on Wednesday said of the 6,000-odd cryptocurrencies in existence today, only one or two, or at most, only a handful would survive.

In an interview with CNBC-TV18, the former RBI governor said, “If things have value only because they because they will be pricier down the line, that’s a bubble.” 

“A lot of cryptos have value only because there is a greater fool out there willing to buy.” He compared the current mania in cryptocurrencies to the tulip mania in the Netherlands in the 17th century.

“Cryptos may pose the same problem as unregulated chit funds which take money from people and go bust, a lot of people holding crypto assets are going to be aggrieved,” he said.

According to Rajan, it was not as if cryptocurrencies had no value at all, just that most of them did not have permanent value. Also, some of them would survive to provide payments, especially cross border payments.

Rajan was not alone in voicing concerns over cryptocurrency dealings in India. RBI Governor Shaktikanta Das recently has also issued warnings on cryptocurrency trading. Das in his address has opined for a strong and formal framework to regulate cryptocurrency dealings in India.  

The Centre is all set to introduce a Bill to regulate cryptocurrencies during the winter season of Parliament. A comprehensive Bill on the digital currencies is likely to be tabled for the Cabinet approval.  

Rajan also said, “In the US, crypto is a $2.5 trillion problem that nobody really wants to regulate,” adding that the problem was partly due to regulators not fully understanding this space and how to regulate it. What governments can insist on is getting information from crypto entities, when crypto entities get too big, government can examine them more closely to ensure there isn’t fraud. This is a situation where at best you can send warnings to the broader public,” he added. 

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News Network
November 26,2025

Mangaluru, Nov 26: Assembly Speaker and local MLA U.T. Khader has initiated a high-level push to resolve one of Mangaluru’s longest-standing traffic headaches: the narrow, high-density stretch of National Highway-66 between Nanthoor and Talapady.

He announced on Tuesday that a formal proposal has been submitted to the Union Ministry of Road Transport and Highways (MoRTH) seeking approval to prepare a Detailed Project Report (DPR) for the widening of this crucial corridor.

The plan specifically aims to expand the existing 45-meter road width to a full 60 meters, coupled with the construction of dedicated service roads. Khader highlighted that land for a 60-meter highway was originally acquired during the initial four-laning project, but only 45 meters were developed, leading to a perpetual bottleneck.

"With vehicle density rising sharply, the expansion has become unavoidable," Khader stated, stressing that the upgrade is essential for ensuring smoother traffic flow and improving safety at the city's main entry and exit points.

The stretch between Nanthoor and Talapady is a vital link on the busy Kochi-Panvel coastal highway and connects to major city junctions. The move to utilize the previously acquired land for the full 60-meter width is seen as a necessary measure to catch up with the region's rapid vehicular growth and prevent further traffic gridlocks.

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coastaldigest.com news network
December 2,2025

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Udupi, Dec 2: A wave of regional pride is sweeping through Udupi district as Shagun S Verma Hegde, a talented Class 9 student from Christ King English Medium High School, Karkala, has been named the captain of the Indian National Team for the Under-15 Girls’ Volleyball Championship.

Shagun holds the unique distinction of being the sole player from Karnataka selected to represent the country in the prestigious international tournament. The championship, organized by the School Games Federation, is scheduled to take place in Shangluo, China, from December 3 to 13, where Shagun will lead the national squad.

A Remarkable Journey to the Top

Shagun’s selection is a testament to her dedication and exceptional skill on the court. Her journey included several rigorous rounds of selection:

•    She was the only player from Udupi district to qualify for the state-level selection camp.

•    Out of eight players from Karnataka who advanced to the national selection camp in Pune, Maharashtra, Shagun was the only one to secure a place in the final national squad.

•    The national camp saw participation from approximately 200 players, which was shortlisted to 23. Shagun not only made the final cut but was also ranked as the second-best player overall, solidifying her leadership role.

Shagun, who is the daughter of Sandesh Verma and Shruthiraj of Kallotte, Karkala, has trained under experienced coaches Santosh D’Souza, Jeevan D’Silva, Jairaj Poojary, and Ramesh. Her selection as the team captain has brought profound honour to her family, school, the Udupi district, and the entire state of Karnataka.

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News Network
December 5,2025

Mangaluru: In a significant step to curb online hate and intimidation, Mangaluru City Police have registered a suo motu case against multiple Instagram accounts accused of circulating alleged provocative and threatening content.

While monitoring social media activity on Tuesday, Kankanady Town PSI Anitha Nikkam identified the Instagram handle ‘team_targetttt_900’ for posting a hate message alongside images of lethal weapons. Another account, ‘team_nagara_900’, allegedly shared a threatening post targeting activist Bharath Kumdelu, tagging additional pages such as KARAVALI-OFFICIAL.

Several other accounts — including ‘immu_bhai.fan’, ‘target_boy_900’, ‘kings_of_manglore’, ‘team_target_boys.900’, ‘arshad_mangalore’, ‘target_ka19_ullal’, ‘team_target__’, ‘troll_tigersz_900’, ‘tr_group_900’, and ‘team_target_900’ — are also under scrutiny for spreading similar inflammatory material, police said.

Authorities have urged citizens, especially young social media users, to report suspicious pages and avoid engaging with groups that glorify violence or threaten individuals. Online hate can quickly escalate into real-world harm, and police stress that sharing or promoting such content can attract legal consequences.

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