Delhi High Court asks RBI, SBI to respond to plea to revoke prohibition on use of UPI for cryptocurrency exchange

The Delhi High Court sought the response of the Reserve Bank of India and State Bank of India on a plea seeking to direct the authorities to revoke the prohibition on the use of UPI platform in dealing and settling funds in the cryptocurrency exchange, WazirX. A bench of Chief Justice D N Patel and Justice Jyoti Singh issued notice to SBI, RBI, National Payments Corporation of India, and the Department of Financial Services and asked them to respond to the petition.