The stalk of the hemp plant is used to make rope, apparel, shoes, upholstery, geotextiles and packaging and hemp seed can be used to make oil, flour and animal feed

Hemp cultivation: Uttarakhand's plan to hand out licences to grow the plant is a welcome step for farmers' livelihood
ALMORA, UTTARAKHAND: These were among the tweets in response to Uttarakhand chief minister Harish Rawat’s recent comments that the state would encourage hemp cultivation and hand out licences to farmers for the same. Little do those who tweeted the aforementioned know that if they smoked the bud of the cannabis variety the government plans to licence they would end up with a splitting headache rather than a high. That is because these plants will have negligible tetrahydrocannabinol, but more on that later.

These tweets, and the ones saying that Uttarakhand is the first state to legalise cannabis cultivation in India, are symptomatic of the misinformation there exists on cannabis and its regulation in the country. Bridging the communication gap among the public and convincing them of its good intentions will be among the state government’s biggest challenges, if not the biggest, in this initiative.
A glimpse of what allowing people to grow hemp could achieve is at the ready at Kasar Devi, a beautiful village near Almora, Uttarakhand, about 400 km north-east of Delhi. It’s 10 am on a weekday, the air is clean and crisp and the cold just the right kind, not warranting more than a cardigan buttoned-up.
At the Nanda Devi Handloom and Heritage Centre of Excellence, women from villages in the vicinity are already hard at work in different stages of turning pashmina and alpaca wool, nettle and cotton into shawls, carpets and scarves. While some are putting the final intricate artwork on the fabric, there are a few seeking comfort in the warmth of the sun as they make balls out of dried strings of nettle, or bichhu ghas.


IAMAI says RBI has no authority to ban cryptocurrencies

NEW DELHI: Challenging a Reserve Bank of India (RBI) circular prohibiting banks and financial institutions from providing services in relation to cryptocurrencies, the Internet and Mobile Association of India (IAMAI) on Wednesday told the Supreme Court that the RBI did not have the authority to place a ban when there was no legislative policy in place for virtual currencies.

"RBI cannot step out of its powers as set out in Banking regulation Act. Therefore, its action against private bu ..
The counsel also emphasized that the central bank did not undertake research before issuing the ban.

Advocate Sood also informed the court about definitions of 'virtual currency' and cited various sources to show that there are many meanings of virtual currency and various types of it. He said that the circular is vague because it does not define virtual currencies.

The counsel cited various judgements in support of his petition and cited the acts of regulations taken up by the ..
According to the April 6 circular of last year, the entities regulated by the RBI are prohibited from "providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies".

The Internet and Mobile Association of India said that the RBI had banned cryptocurrencies on "moral grounds" as no prior studies were conducted to analyse the effect of these virtual currencies on the economy.

China wants centralised digital currency after bitcoin crackdown

As Facebook readies to launch its answer to bitcoin, China is set to introduce its own digital currency -- one that could allow the government and the central bank to see what people spend their money on, according to analysts.
Far from the libertarian ideals of cryptocurrencies, whose anonymity allows users to buy and sell without leaving a digital trail, China's mooted e-cash system will be tightly regulated, experts say, and run by the People's Bank of China, the central bank.
It "would give the PBoC greater insight into transactions throughout the country," analysts at Beijing-based research firm Trivium China said in a note.
In late September, central bank governor Yi Gang said China's new currency may be associated with existing electronic payment systems, such as the popular WeChat and AliPay phone apps, which are widespread and allow yuan transactions via bank accounts.

The stalk of the hemp plant is used to make rope, apparel, shoes, upholstery, geotextiles and packaging and hemp seed can be used to make oil, flour and animal feed

Hemp cultivation: Uttarakhand's plan to hand out licences to grow the plant is a welcome step for farmers' livelihood ALMORA, UTTA...