...........There is even a ‘laxmicoin’, India’s very own digital currency, in the making. Sample this: at least three different companies are in talks with Indian banks and other financial institutions to set up a domestic exchange that will allow the purchase and sale of bitcoins. The most prominent among the companies is U.S.-based Buttercoin, a free bitcoin exchange backed by investors such as Google Ventures. However, according to a senior banking official, this would require, at the least, a number of approvals and a ‘no-objection’ certificate from the Reserve Bank of India as well as co-operation from State Bank of India........
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