Connect with us


Ukraine Made Cryptocurrencies Legitimate Just before the War



Ukraine Made Cryptocurrencies Legitimate Just before the War

Days before the invasion by Russia, the Ukrainian Parliament took a major decision. They unanimously agreed to consider cryptocurrencies as a legal mode of payment through official site. This agreement transformed into a bill on February 17, 2022. The bill would serve as the framework for managing, regulating, and protecting digital assets.

A Wise Move?

When the Russia-Ukraine war began, people began to speculate about the economic repercussions on both countries. While some believed that they would be terrible, others preferred to remain optimistic. 

However, Ukraine itself, does not seem too concerned. Otherwise, the Verkhovna Rada, its parliament, would not have cleared the crypto bill. True, only 272 members voted in favor. The rest (178 members) voted against it. Nevertheless, despite everything, cryptocurrencies have become legalized in Ukraine. 


Those, who voted in favor, are upbeat about the formulation of new laws. They sincerely believe that they should assist in the growth of businesses. Furthermore, the citizens would be able to garner digital assets for themselves by reaching out to global crypto marketplaces.

Also Read: The Real Reason Behind Elon Musk’s Brother Saying he’s ‘violently opposed’ to Cryptocurrency

People wonder if the decision had anything to do with the impending military conflict. After all, Russia had been making threats for several months, before it attacked Ukraine.


Maybe, it did, for the Government’s official handle on the Twitter platform swung into action soon after the invasion began. There were requests for donations from Twitter users. The targeted users were from within, and outside, the country. 

A general tweet was placed on display. It requested the world to support Ukraine. A note about accepting digital currency donations, followed. Another tweet mentioned the addresses of a couple of cryptocurrency wallets. One of them would accept only Bitcoins. The other would accept Ether and Tether. Tether is in accordance with the U.S. dollar.

The New Bill

A law providing legitimacy to digital currencies had come into force in September 2021, itself. However, the Ukrainian President, Volodymyr Zelenskyy had refused to give his agreement to the bill. He had said that they were in no position to formulate new regulations for managing cryptocurrencies. Now, of course, the scenario is different!


What are the features of this new bill?

To begin with, the National Commission on Securities and Stock Market would take charge of cryptocurrency regulations. The President, himself, recommended this move.

Of note, is the fact that the Parliament has not agreed to award the label of ‘legal tender’ to Bitcoin, or any other digital currencies. None of these coins can become official currencies. Instead, the bill is meant to reassure businesses that they may conduct online deals with cryptos. Earlier, this was a legal gray area.

The Government is open to dialogues with market participants. These investors/traders may base their final decisions upon the outcomes of these dialogues. In any case, they would always have legal protection.


The Ukrainian Government is optimistic about the results of its action. After all, even before the bill came into existence, Ukrainians were used to handling cryptocurrencies. In fact, the nation rates extremely high on cryptocurrency usage. The bill has only served to provide an official platform for digital currencies and cryptocurrency exchanges. 

Also Read: Cryptocurrency index IC15 with 15 top cryptos to trade on Bitbns from April 1

The Future of Cryptos in Ukraine

As mentioned earlier, Ukraine’s businesspersons are used to digital currencies. It is why the nation has become a leader in Europe, regarding crypto industries. Chainalysis, a market consultant, places Ukraine at the fourth position on the Global Crypto Adoption Index of 2021. The other three toppers are Vietnam, India, and Pakistan. This Index gives rating in alignment with the value and volume of crypto trading during the year.


According to the New York Times, Ukrainians are more in favor of digital currencies than fiat currencies. Therefore, they experiment with maximum crypto transactions on any given day.

The nation also boasts of enthusiastic developers, who are extremely keen to work with blockchain technologies. The programmers are also amongst the best in the world.

Ukraine hopes to encourage users from across the globe to invest in its crypto marketplace. However, this may take some time, since there is a war in progress. Additionally, Russia is not too keen on digital currencies, and desires to ban them. It is because Russia’s central bank is keen to promote its own cryptocurrency, and does not want them.



Understanding the Benefits of Emergency Loans for Unexpected Expenses



Emergency Loans

Emergency funds form the foundation of your financial well-being. Having a financial resource to tackle unexpected expenses is a big necessity. However, emergencies often come up at the most unexpected times. In such situations, emergency loans emerge as the most practical funding option.

An emergency loan provides immediate relief. At the same time, it gives you an opportunity to build your credit score without stretching your budget. In the following sections, you will learn what these loans are and their benefits. 

Understanding an Emergency Loan

Emergency loans are financial facilities many new-age lenders like Hero FinCorp provide to address urgent needs. They are a quick source of funds when you require money to cover an unexpected expense or overcome a crisis. Quick disbursal of funds ensures timely access to the funds needed without touching your savings. Moreover, they are short-term, collateral-free loans that do not require backup of collateral, guarantor, or security. Despite the higher risk for the lenders, these loans are known for competitive interest rates and simple eligibility criteria.


An emergency loan approval process involves an in-depth analysis of an applicant’s creditworthiness, including financial health, repayment capacity, income stability, and credit score. Lenders consider several other factors to determine loan eligibility, such as age, debt-to-income (DTI) ratio, employment history, work experience, etc. Hero FinCorp can be a great choice if you are looking for a reliable option with hassle-free process. They offer Personal Loan with minimum salary requirement of Rs 15,000 per month.

What Can an Emergency Loan Cover?

While putting away money and building a corpus of emergency funds is advisable, you may still need emergency loans in the following life situations:

Medical Emergency: 

The steep costs of healthcare these days could drain your emergency funds and savings within a short period. In such situations, an emergency loan can revive your mental and physical health without any compromise on the quality of healthcare.


Higher Education: 

Quality education sometimes can be expensive. Seldom your saved money falls short to financing the costs. An emergency loanl can cover various expenses associated, including tuition fees, travel costs, accommodation expenses, study materials and equipment, etc.

Urgent Trips: 

An emergency loan can save the day when you suddenly need to go on a foreign trip for work, relatives, healthcare, or a spontaneous plan with friends. It can finance all types of expenses for the trip, including airfare, sightseeing, accommodation, shopping, visa, etc.

Last-Minute Wedding Expenses: 

Some expenses may arrive unexpectedly despite planning everything efficiently. Such financial shortfalls may ruin the wedding experience, making all your efforts unsuccessful. Cover these expenses with an emergency loan to make your event memorable.


Home Renovation: 

You may require an emergency loan for home renovation needs such as urgent repairs and quick revamps. Cover all the related costs with this loan and transform your house the way you like.

Other than these, emergency loans may cover several other expenses such as big-ticket purchases, debt consolidation, sudden death in the family, loss of job, urgent car repairs, etc.

Top Advantages of Emergency Loans

Since emergency loans can come to the financial rescue in several life situations, let’s look at the top advantages they provide:

  • Quick Access to Funds: 

Speed is one of the biggest advantages of emergency loans. If an unexpected expense exceeds your savings, secure instant funding from an emergency loan. NBFCs like Hero FinCorp can approve these loans in minutes and disburse the loan amount directly into your bank account.

  • Flexible Spending: 

An emergency loan is completely flexible in how you use the loan amount. These loans do not impose any restrictions on fund usage, giving you the freedom to cover whatever urgent requirement arises.

  • Easier Eligibility Criteria: 

Eligibility criteria for emergency loans are more flexible than traditional ones. As long as you have a stable job with a regular income, you may qualify for a Personal Loan with a minimum salary of Rs 15,000. 

  • No Collateral Requirement: 

Emergency loans are a type of Personal Loans that do not require collateral. These unsecured loans provide convenient access to funds within minutes with minimal formalities.

  • Convenient Application: 

The application procedure for an emergency loan is quick and simple. Loan companies streamline the process with digital methods to accelerate evaluation, approval, and funding. The convenient online process makes loan application easy from the comfort of your home without visiting the lender’s branch office and submitting hefty paperwork. The streamlined application process delivers fast funding access right when needed.

  • Direct Dispersal of Funds: 

Once approved, you don’t need to visit the lender’s office to collect the cheque and submit it to your account. The electronic transfer disburses the loan amount directly to your bank account, allowing immediate access to the funds for emergencies.

Steps to Apply for an Emergency Loan

When planning to apply for an emergency loan, here is your best path forward:

  • Choose the Lender: 

Research and compare multiple lenders based on their interest rates, approval requirements, eligibility conditions, loan amounts, additional charges, repayment terms, etc.

  • Choose a Repayment Term: 

Since lenders allow applicants to choose a repayment term with budget-friendly EMIs, use an EMI calculator to make an informed decision best suited to your monthly budget and repayment capacity.

  • Start the Application Online: 

You can easily fill out the application form online using your smartphone. Download the instant loan app offered by reliable NBFCs like Hero FinCorp to apply online.

  • Review and Accept the Loan Offer: 

Review and accept the loan offer you receive to authorise fund transfer to your account.The convenient and digital process takes just a few minutes to complete, giving you quick loan access to emergency funds. Having your documents ready in advance streamlines and expedites approval, making emergency loans instantly available without hassle. Apply for an emergency loan of up to Rs 3 Lakh with Hero FinCorp and meet financial emergencies more confidently. Here, the interest rates are competitive and the application process is digital, making emergency funds instantly available in your bank account.

Continue Reading


Mitsubishi to acquire 32% stake in TVS Mobility’s new venture



Mitsubishi to pick up 32% in TVS Mobility’s new arm

TVS Mobility and Japan-based Mitsubishi Corp have announced an agreement, under which Mitsubishi Corp will acquire almost one-third stake in a new company, a spin-off of the business of TVS Mobility.

According to Mitsubishi Corporation, they have agreed to subscribe to shares (about 32%) in TVS Vehicle Mobility Solutions Pvt Ltd (TVS VMS) through private placement. The completion of these transactions is subject to approval by the relevant regulatory authorities.

This investment is intended to develop comprehensive mobility solutions including after-sales services, multi-brand sales, leasing, and other automotive operations by utilizing the extensive customer base and digital technology of TVS Mobility’s arm.

Mitsubishi has previously invested in TVS Automobile Solutions (TASL), a network of roughly 700 service centers, and partnerships with 16,000 retailers of wholesale auto parts connected through digital technology.

The exact financial details of the deal have not been disclosed, but this strategic partnership between TVS Mobility and Mitsubishi Corporation is expected to enhance the range of mobility services being offered by TVS Mobility and strengthen their position in the market.

Overall, this collaboration is a significant development in the automotive industry, and it will be interesting to see how TVS Mobility and Mitsubishi Corporation leverage their strengths to revolutionize mobility solutions and services in the future. The completion of this deal is eagerly anticipated and is bound to have a far-reaching impact on the industry.

Continue Reading


IndiGo’s Market Share Decline in January Explained: Chart Beat



Chart beat: Why IndiGo’s market share slipped in January

In January, IndiGo’s domestic passenger traffic increased by 16% year-on-year, but its market share dropped to 60.2% sequentially, marking its lowest share since the shutdown of Go First’s operations in May. According to Jefferies India, the decrease in IndiGo’s market share may be due to the impact of its aircraft grounding in Q4, while its peer, Air India, continues to build its fleet. The market share of the Air India group reached a recent high of 28.3% last month, compared to 27% in December.

Moving forward, investors will closely monitor fuel prices in the coming days as they play a crucial role in the profitability of airlines. Aviation turbine fuel (ATF) prices make up a significant portion of operating costs for airlines, and higher fuel prices can negatively impact profits. Despite a slight decrease in ATF prices month-on-month in February, Jefferies predicts that spot jet fuel suggests that ATF may remain stable next month.

The fluctuation in market share and the impact of aircraft grounding on IndiGo’s operations highlight the challenges and competition within the domestic aviation industry. As the industry continues to navigate through the effects of the pandemic, factors such as fuel prices and fleet expansion will continue to influence the performance and market position of airlines. As a result, stakeholders will closely follow developments in these areas to gauge the overall health and prospects of the aviation sector in the coming months.

Continue Reading