Facts checked 29 September 2026 for the CAT 2026 cycle
WAT Topic: "Is cryptocurrency a threat or opportunity for India?" - economic category, medium difficulty. Consider 2 perspectives for a balanced essay.
Reference the 30% tax on crypto gains and the fact that India still had no dedicated crypto law in mid-2026. Position: regulate, don't ban.
Para 1: Legitimate use cases (blockchain, DeFi)
Para 2: Valid regulatory concerns, including the RBI's stance
Para 3: Middle path: a clear regulatory framework alongside the Digital Rupee
Advocate for innovation-friendly regulation over prohibition.
India taxes gains from virtual digital assets at 30% with 1% TDS; there was still no comprehensive crypto law in June 2026
The Income Tax Department estimated about 39 million crypto traders in India holding around USD 2.1 billion at the end of May 2026 (Reuters, 8 July 2026)
The RBI has repeated that policy should lean towards prohibition and that banks should stay away from crypto and private stablecoins (Reuters, 8 July 2026)
Retail digital rupee in circulation fell to Rs 771 crore at 31 March 2026 from Rs 1,016 crore a year earlier (Reuters, 29 May 2026)
Conflating crypto with blockchain technology
Not mentioning Digital Rupee (CBDC)
Taking extreme pro or anti position without nuance
Know the difference between crypto, blockchain, DeFi, and CBDC. Show you understand the technology.
Rhetoric (4th Century BC)
Insight: Persuasion requires ethos (credibility), pathos (emotion), and logos (logic) working together.
How to apply: Structure your WAT with logical arguments (logos), establish credibility through data/examples (ethos), and connect to human impact (pathos). IIM evaluators look for all three.
Made to Stick (2007)
Insight: Ideas that stick are Simple, Unexpected, Concrete, Credible, Emotional, and tell Stories (SUCCESs).
How to apply: Open with an unexpected fact or angle. Use concrete examples, not abstractions. Ground arguments in credible data. Make it memorable.
The Sense of Style (2014)
Insight: Good writing is about showing the reader something in the world, not performing your knowledge.
How to apply: Don't write to impress—write to illuminate. Avoid jargon and pompous language. Show you understand the issue, don't just list points.
Politics and the English Language (1946)
Insight: Clear thinking leads to clear writing. Never use a long word where a short one will do.
How to apply: Prefer active voice. Cut unnecessary words. If you can cut a word, cut it. Clarity beats complexity in 200-word essays.
Values original thinking and nuanced positions over conventional wisdom.
Tip: IIMA loves contrarian but well-reasoned takes. Don't be afraid to challenge the premise of the topic itself.
Practical, business-oriented evaluation. Values structured thinking.
Tip: IIMB appreciates when you connect topics to business/management implications. Always include "so what" for managers.
Rigorous analytical approach. Values data and economic reasoning.
Tip: IIMC loves numbers. Include at least one relevant statistic. Show you understand economic trade-offs.
Balanced evaluation of content and expression.
Tip: IIML values clear structure. Use explicit transitions and signposting.
Ethics-focused, values human-centric perspectives.
Tip: XLRI's Jesuit heritage means they value ethical dimensions. Always consider the human/social impact angle.
There's no "right" stance. What matters is taking a clear position and defending it well. Know the difference between crypto, blockchain, DeFi, and CBDC. Show you understand the technology.
Nobody outside the institute can say. IIMs set the essay topic on the day. This topic is tied to an issue that was current in September 2026, and the statistics on this page carry their source and date, so use it for practice.
Reference the 30% tax on crypto gains and the fact that India still had no dedicated crypto law in mid-2026. Position: regulate, don't ban. Your body should cover: Para 1: Legitimate use cases (blockchain, DeFi); Para 2: Valid regulatory concerns, including the RBI's stance; Para 3: Middle path: a clear regulatory framework alongside the Digital Rupee.
Our AI simulates the follow-up questions panels ask after reading your essay — testing if you truly understand what you wrote.
Experience a Mock Interview