After a month of agony, the Indian crypto investors now see some solace as the leading crypto exchange – CoinSwitch Kuber allows its investors to deposit money in INR through NEFT, RTGS and IMPS. But now the facility comes with a cost though as less as Rs. 100 per transaction.
CoinSwitch Kuber has one of the largest user base in India. The last one month has been a roller coaster ride for Indian investors. The first blow came in the form of levy of 30% income tax on all gains from digital currencies and assets from April 1, 2022. The decision also called for deduction of 1% TDS from July 1, 2022.
The plight was further added to, by disabling MobiKwik and UPI services to facilitate crypto trade. Following this even the banks across the country withheld the payments in INR that were routed through NEFT, RTGS and IMPS in the name of regulatory issues.
But now the crypto exchange, CoinSwitch Kuber has reopened the option on its platform. Although no official announcement in this regard has yet come, but the app has been updated and investors are able to materialize the trade in INR, as per a news report.
The last two weeks didn’t allow investors to deposit any money in their accounts on CoinSwitch Kuber. It should be noted that payments via UPI still remain suspended on all Crypto platforms in India.
