The RBI has reportedly issued a directive requiring observers on the boards of NBFCs to be appointed as directors. This significant shift will affect how investors engage with the management of their NBFC portfolio....

“Gujarat International Finance Tec-City (GIFT City) is emerging as a crucial global finance hub, attracting various financial and technology firms with its unique blend of regulatory advantages, tax incentives, and...

May marked several sweeping regulatory developments in the fintech space. While the proactive approach of the RBI in monitoring the NBFCs caused a stir, several other key developments also made the headlines like...

The Reserve Bank of India (“RBI”) issued draft circulars on regulation of payment aggregators – physical point of sale and draft amendments for the PA-PG Guidelines. These draft circulars mark a significant shift...

As the Indian fintech landscape continues to evolve rapidly, April 2024 was no exception as it sparked an exciting kick off to the financial year. The month was inundated with a host of power moves from the RBI and the...

William Gibson's seminal cyberpunk science-fiction novel ‘Neuromancer’ (1984) is often cited for its comment on the accessibility of technological innovations for the masses, artfully captured by the phrase “the...

January 2024 has witnessed significant changes in the regulatory landscape in India, which may have a nuanced impact on the fintech sector in the country. Particularly, the regulatory action taken against Paytm as well...

October and November 2023 were not just any other months for the fintech space. From the introduction of new regulations for NBFCs to bringing in some interesting amendments to the Prevention of Money Laundering Act,...

The month of December 2023 saw several regulatory measures in the fintech space. While the Financial Intelligence Unit-India’s crack down on offshore cryptocurrency platforms made the headlines, we also witnessed...

September 2023 was another notable month for the fintech sector. With the successful completion of the Global Fintech Festival, 2023, the month was also a testament to the significant impact which India left on the...

The months of July and August have witnessed significant changes in the regulatory landscape in India, which may have a nuanced impact on the fintech sector in the country. Particularly, the notification of the Digital...

Our latest edition of the fintech newsletter addresses the most important developments in June 2023 in the fintech space. This edition highlights key regulatory changes that are significant for both regulated as well as...

In the recent past, an increased number of ultra-high net worth individuals and families started using jurisdictions outside India such as Singapore and Dubai to open ‘family offices’ to utilise and invest their...

Fintech’s potential to transform the delivery of financial services continues to take more meaningful strides as India is embracing global breakthroughs in artificial intelligence (“AI”) and machine learning...

Nearly a decade after the digital lending space first saw default loss guarantee arrangements, they seem to have received regulatory blessing from the Reserve Bank of India, with the issuance of the Default Loss...

The start of the new financial year witnessed a brisk pace of regulatory activity, with the Reserve Bank of India and Securities and Exchange Board of India being particularly active. The first quarter has also seen a...

With the financial year ending in March 2023, there was a flurry of activity by financial services regulators. In particular, the Government of India has expressed its interest in the crypto ecosystem by expanding the...

The Reserve Bank of India on April 10, 2023, issued the Reserve Bank of India (Outsourcing of Information Technology Services) Directions, 2023 ("Directions") to govern and regulate Information Technology services...

The continuous advancements in the fintech sector in the recent past has led to some key developments in this space, which has influenced the landscape of financial services in India. In this issue of the fintech...

The fintech industry continues to evolve at an unprecedented pace, driven by advances in technology, changing consumer preferences, and regulatory developments. We at INDUSLAW have been closely monitoring these...

The final quarter of the year 2022 witnessed several regulatory movements which have the potential of bringing about a sea of change in the fintech sector and provides an optimistic outlook to what lies ahead in 2023....

The RBI launched the pilot project of India’s much awaited Central Bank Digital Currency (CBDC) on 1st December following the release of concept note. INDUSLAW’s Namita Viswanath, Sruthi Srinivasan and Pravi Jain...

The manifold expansion of the digital space in terms of presence and activities of users, especially since the Covid-19 pandemic has resulted in paradigm shifts in the existing regulatory regime in India which was...

The second quarter of the year 2022 has witnessed the announcement of several key initiatives and regulatory changes by the RBI; some of which have been hailed and welcomed by the industry while others that have not...

With the final quarter of the financial year 2021-2022 coming to a close, we note that the Indian fintech sector has witnessed strong growth amounting to a market size of United States Dollars 31 billion. The Reserve...

The Indian fintech sector provides an optimistic outlook for the upcoming year of 2022. INDUSLAW’s Avimukt Dar, Suneeth Katarki, Namita Viswanath, Shreya Suri, Raghav Muthanna, Aditya Girish Chandra, and Abhijit...

The Indian fintech sector has continued to grow and attract investments. In line with the policy objective of consumer protection and to make digital payment systems more secure and convenient for consumers, the RBI has...

The Government of India has recently launched 'e-RUPI', a new digital payment solution built on the UPI system. INDUSLAW's Namita Viswanath, Shreya Suri, Shobhika Upadhyay, Maygha Viswanat, and Shantanu Mukul provide an...

The Indian fintech space remains one of the fastest growing sectors, with companies evolving new business models to digitise more aspects of banking and financial services and expand their offerings into overseas...

The Fintech sector in India has continued to grow despite the Covid-19 pandemic and is now one of the largest fintech markets worldwide. INDUSLAW discusses key developments in the Indian fintech space from January 01,...

The Indian fintech market has continued to grow and evolve, with the Covid-19 pandemic accelerating digitization amongst consumers, micro, small and medium enterprises (“MSMEs”), banks, and other financial...

Despite the recent economic slowdown in India with the extended lock-down, the fintech industry has continued to attract investments, with Covid-19 having fast-tracked adoption of digital solutions by consumers, banks,...

The economic disruptions owing to the current pandemic, have impacted funding globally, with venture-backed investments in India falling drastically between March and June 2020, as compared to the same period last...

Despite the economic slowdown due to the COVID-19 pandemic, the Indian fin-tech sector has done exceedingly well this past quarter, with uninterrupted innovation and investments in the space. Fin-tech enterprises...

The fin-tech sector in India has been witnessing increased attention and growth on account of digital inclusion, technological innovations, and interest from second-time entrepreneurs like Kunal Shah (FreeCharge and...

The fin-tech sector has rapidly expanded out of the back-end technology used by large financial institutions, to cover all emerging technological innovations having a bearing on financial services. The fin-tech...

On October 16, 2018, the RBI issued guidelines for the interoperability of know-your-customer compliant prepaid payment instruments, which were widely anticipated ever since the RBI issued master directions on this...

In March 2018, the Union Cabinet approved the introduction of the Banning of Unregulated Deposit Schemes Bill, 2018 (the 'Bill') and on 18 June 2018, the Bill was tabled before the Lok Sabha. The Bill provides...

The Reserve Bank of India (the 'RBI') has published responses to frequently asked questions ('FAQs') regarding the Master Directions ' Non-Banking Financial Company ' Peer to Peer Lending Platform (Reserve Bank)...

For over a decade now, Indian banks and non-bank entities have been issuing prepaid payment instruments ('PPIs') after obtaining necessary approvals from the Reserve Bank of India (the 'RBI') under the Payment and...

The Reserve Bank of India ("RBI") has classified digital wallets as "Prepaid Payment Instruments" (hereinafter "PPI" or "Issuer") which refers to payment instruments that facilitate purchase of goods and services,...

The Reserve Bank of India (the “RBI”) has issued a circular to address the special circumstances that have emerged after the demonetization drive (the “Circular”).

The Government of India took unprecedented action at midnight on November 8, 2016 to effectively demonetize Rs. 500 and Rs. 1,000 notes (together "High Denomination Notes") as legal tender, withdrawing them from...

It was circa 1955 when computer was used for the very first time in India and it was circa 1995 that internet services were first launched here. In 2015, one cannot imagine a life without the two. This goes to show how...