MUMBAI (Reuters) -The rising popularity of U.S. dollar stablecoins will be an important phenomenon next year and could raise challenges for monetary policy globally, India's Chief Economic Adviser V. Anantha Nageswaran said on Wednesday. "The presence of a dollar stablecoin will bring with it its own challenges for monetary policy, monetary transmission and for seigniorage benefits of any country," Nageswaran said at an event in Mumbai. Seigniorage refers to the difference between the face value of money ...

Having financed India Inc.’s overseas buyouts for long, State Bank of India (SBI) sees itself ready to underwrite mergers and acquisitions (M&As) at home, as the Reserve Bank of India (RBI) considers opening that door for domestic lenders.“We have been doing outbound M&A financing with Indian corporates acquiring overseas entities. Banks like SBI are well-versed with acquisition financing,” C.S. Setty, chairman of the country’s largest lender, told reporters on the sidelines of the Global Fintech Fest in Mu ...