A sigh of relief for all investors and crypto exchanges in India who invested in virtual currencies as the Reserve Bank of India (RBI) on May 31 cleared air on cryptocurrency trading. The RBI clarified that banks and other regulated entities can't cite its 2018 circular on cryptocurrencies as it has been set aside by the Supreme Court in March, 2020.

Also Read:

RBI clarifies on cryptocurrency trading, asks banks to carry out customer due diligence

The central bank has also asked banks to take due diligence. CNBC-TV18 caught up with Wazirx's founder Nischal Shetty and spoke about the clarification and its newly launched NFT marketplace.

Also Read: WazirX launches India's first NFT marketplace

Also, the Department of Science and Technology in May had invited applications from startups and companies that could offer solutions and innovations to address and mitigate the COVID-19 crisis. The department on May 21 launched NIDHI4COVID2.0 initiative under which it will fund startups and companies registered in India that can offer solutions in the areas of oxygen innovation, portable solutions, diagnostics, informatics, and several other solutions.

To know more about the initiative, CNBC-TV18 spoke to Secretary of the Department of Science and Technology, Professor Ashutosh Sharma.

Watch the video for more.

(Edited by : Bivekananda Biswas)