Financial Institutions  

Crypto Diamond tells us the biggest change that virtual money will bring about – the revolutionary cryptocurrency does not need banks or other kinds of financial institutions.

The primary benefit of Decentralised Finance (DeFi) is that it offers an unrivalled level of ease and accessibility as opposed to Centralised Finance (CeFi), where banks and other financial institutions charge exorbitant fees for the use of their financial services. 

There are three cases of fraud by the Rose Valley Group in Tripura — one each in Agartala, Kumarghat and Birganj. The combined amount that the Rose Valley Group has been alleged to have embezzled is just under Rs100 crore.

The fraud case, according to the sleuths, resulted in a loss of Rs 2,348 crore (approx) for the lending banks/financial institutions/govt exchequer