Indian diaspora

If they want to see, I will show them what we are doing and all.

And there were some of the NRIs as well who were coming to attend the wedding.

I knew they were my friends' friends.

The first sale I made, hats off, was to a man, I would say, not even to a woman.

It's not-

Half of that is NRIs.

No.

So 10 million is actual foreigners coming into India.

So it will not address if it's illiquid in its other form of intrinsically, but if it is because the size of the asset, yes.

It can also make it, in some sense, you know, liquid by making access available at a larger space because through a tokenization you are loading it to a digital framework, and then digital has no geographical boundaries, right? So then the access can be enabled not just in India, potentially overseas also, where NRIs can participate.

So as you look ahead, what are the, not the, either the pitfalls or some of the challenges that you see on this road which also links with your other portfolio, which is cyber risk?

One of the most important would be whenever we talk about tokenization or any such new initiative from a technology lens, one is the blockchain as a ledger.

Broadly, continuous Reserve Bank of India interventions have helped take the rupee higher to a more than two-month peak last week, though that rise has met with resistance thanks to rising oil prices and still elevated hedging demand from local importers, according to a Reuters report, which also quoted unnamed bankers saying Indian banks have left much of their future interest payments on overseas forex deposits unhedged, creating a source of potential dollar demand that could compound depreciation pressure in a rupee weakening scenario.

Banks have raised more than a hundred and twenty-seven billion dollars in such deposits from mostly NRIs, and it costs banks about three percent a year to hedge forex risk on interest payments for deposits of three to five-year tenors, for which the interest is paid when the deposits mature rather than periodically, according to those bankers.

One head of forex trading at a private sector bank told Reuters, "The cost of hedging is prohibitive, particularly given how recent Reserve Bank of India intervention has made risk reward on the rupee asymmetrical." While the Reserve Bank of India's special swap facility does shield banks from forex risk on the deposit's principal amounts, interest payments need to be managed by lenders independently.

Foreign banks are largely hedging exposure, says that report, but most state-run banks and several private sector banks have not.

They warned, that penalties without practical alternatives could disproportionately affect residents and businesses in older, congested neighbourhoods.

NRI property transactions to get simpler as stand requirement ends from October 1st.

Resident individuals and Hindu undivided families, HUFs.

Purchasing immovable property from non-resident Indian NRI sellers will no longer need a separate tax deduction and collection account number, TAN, from October 1, 2026.

The change, introduced through the Finance Act 2026, will allow eligible buyers to use their permanent account number, PANSA, for depositing the applicable Tax Deducted at Source, TDS.

The reform removes an additional compliance step but does not eliminate the TDS obligation on NRI property transactions.

Buyers will continue to be responsible for deducting and depositing Aapkeet among the applicable tax.

while transactions completed before October 1st, will remain subject to the existing TAN requirement.