The RBI (Reserve Bank of India) has expressed it's discomfiture in dealing with bitcoin as legal tender. The central bank has now turned it's gaze on cryptocurrencies as an option. Bitcoin has of late come under intense global regulatory scrutiny.
The CEO of Uber Technologies Inc., Travis Kalanick, has resigned, leaving the Indian sector of the company in uncertainty. Kalanick was a big backer of the money-losing Uber business in India. His departure leaves rival Ola an opportunity to retain the market leadership.
Kalanick's resignation indicates that Uber may be forced to cut it's aggressive spending to gain market share. If Uber is unable to keep prices low for riders in Indian markets, and fails to promote drivers' incentives, it will hit the growth of the company.