RBI Cautions on Crypto While SEBI Tightens Surveillance on Small IPOs

4 Oct 2026, 7:30 am · 3h ago · 1 min read · YourStory

Reserve Bank of India Governor Sanjay Malhotra has reaffirmed the central bank’s cautious stance on cryptocurrencies, highlighting significant risks to monetary sovereignty, monetary policy, and capital flows. However, Malhotra clarified that India continues to actively support underlying technologies such as tokenization and distributed ledger systems. Meanwhile, the Securities and Exchange Board of India is developing a secondary surveillance framework to detect and eliminate bad actors among listed companies, according to Whole-Time Member Kamlesh Varshney. Varshney added that SEBI is also implementing measures to identify high-risk, small initial public offerings to protect retail investors from potential financial losses.