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Fintech startups

Making sense of regulatory sandbox for Fintech startups

By Nivedita Nivargi and Vishnu Kale, Samvad Partners
Over the past few years India has seen rapid development in the financial technology sector and it has the second highest number of Fintech startups in the world. According to certain estimates, India’s Fintech...
regulatory sandbox

Closer look at Reserve Bank’s proposed regulatory sandbox

By Shilpa Mankar Ahluwalia, Shardul Amarchand Mangaldas & Co.
The Reserve Bank of India (RBI), last month, released a draft of the “Enabling Framework for Regulatory Sandbox”. A sandbox is a framework that allows regulation to evolve and keep pace with innovation in...

India-Singapore corridor bridges fintech regulatory hurdles

By Arjun Goswami, Cyril Amarchand Mangaldas
The fourth industrial revolution has allowed fintech companies to transform the delivery of financial services through technology and innovation-driven efficiency and inclusive access. Technology has automated financial services and products as well as processes...

The curious case of the privacy sandbox

By Lagna Panda, Chandhiok & Mahajan
In December 2019, the Personal Data Protection Bill, 2019 (PDP bill), was introduced in parliament and was then referred to a joint parliamentary committee for review. Compared to the 2018 version, the PDP bill...

Retail payments to be first RBI sandbox grouping

The Reserve Bank of India (RBI) announced that applications are open from 15 November to 15 December, 2019 for the first cohort of its fintech regulatory sandbox regime. The theme for the first cohort is retail...

Innovative play in the sandbox

Regulators in this sphere need to be flexible, writes Sanhita Katyal The triad of financial regulators in India – the Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI) and Insurance Regulatory and...

Sandbox helps businesses and regulators innovate

By Archana Tewary and Arjun David Alexander, J. Sagar Associates
A regulatory sandbox is an enabling interface or infrastructure constructed by a regulator, to conduct live tests on new financial innovations and technology, in which, the regulator may permit certain regulatory relaxations for testing....

Enter sandbox

Dear Editor, In an article on the regulatory sandbox proposed by the Reserve Bank of India (RBI), Shilpa Mankar Ahluwalia gave a comprehensive overview on the guidelines. While she raised concerns such as restrictive eligibility...
India’s telecoms act

Any hangups?

India is bringing its outdated telecoms regime into the present with new legislation. But the reforms have sparked concern over privacy and implementation, writes Indrajit Basu India’s Telecommunications Act, 2023, announced in December last year,...
Fintech new incentive scheme

Fintech goes mainstream through new incentive scheme

By Rohit Jain and Kunal Sharma, Singhania & Co. 
The fintech sector in India has become a global leader. It has built the largest ecosystem and enjoyed the fastest growth. By 2025, its valuation will hit USD150 billion-USD160 billion, making the country a...
AI Act ethical implications regulation

Real intelligence must supervise AI and soon

By Ashima Obhan and Aparna Amnerkar, Obhan & Associates
Artificial Intelligence (AI) is transforming our world. However, concerns have grown regarding its ethical implications and risks. The European Union (EU) has acted significantly by adopting the AI Act (act), a comprehensive regulatory framework...

Upping the ante on phishing through AI – The TRAI directive

By Mathew Chacko, Aadya Misra, Shambhavi Mishra and Ajeeth Srinivas, Spice Route Legal
Phishing misleads and tricks individuals into revealing personal or confidential information through deceptive emails or messages. Such information is then used for unlawful or harmful purposes, such as fraud or installing ransomware. Smishing, a...

A finance and technology GIFT to investors

By Rohit Jain and Kunal Sharma, Singhania & Co.
The Gujarat International Finance Tec-City (GIFT City) was conceived as an International Financial Services Centre (IFSC), offering international connectivity and a business-friendly environment. It is the only greenfield smart city in India set up...
Fintech is the future of inclusive finance

Fintech is the future of inclusive finance

By Bagmisikha Puhan and Siddhant Gupta, TMT Law Practice
The banking and financial services sector has long been a pioneer and centre of technological innovation, providing end-user banking and financial services. Fintech has emerged as a direct competitor to legacy banking, but has...
Deconstructing AIvideo

Deconstructing AI

Hype and hysteria over artificial intelligence must be tempered to prevent knee-jerk reactions from regulators and to ensure India can reap the benefits cutting edge technology offers, write Abhivardhan and Mridutpal Bhattacharyya To its boosters,...
Cryptocurrencies unchained

Cryptocurrencies unchained?

By Anu Tiwari and Anindita Bhowmik, Cyril Amarchand Mangaldas; Rajiv Luthra and Anirudh Gotety, L&L Partners
Since the Supreme Court overturned India's ban on cryptocurrencies, trading volumes have increased exponentially and home-grown crypto startups have blossomed. But the government has yet to establish a regulatory regime, and reports of another...
Enthusiasm for healthcare offers new practice opportunities, Arjun Krishnamoorthy, J Sagar Associates

Enthusiasm for healthcare offers new practice opportunities

By Arjun Krishnamoorthy, J Sagar Associates
The covid-19 pandemic has seen changes in practices across the world, ranging from frequent hand washing to revisions of long standing standard contractual clauses. A notable change was in the government budget earlier this...

PDP bill reaches parliament

The much-awaited Personal Data Protection Bill, 2019 (PDP bill) was introduced in the Lok Sabha (lower house) of the parliament on 11 December 2019. The PDP bill has been substantially revised from the draft PDP Bill, 2018, which was...
India Business Law Journal

Pushing boundaries

Space project testament to India’s can-do persona India did not make it to the moon this time. But there is no doubt that it will. Even without a successful lunar landing, this is an astonishing...

RBI’s vision 2021 puts focus on customer experience

By Shilpa Mankar Ahluwalia and Akshita Agrawal, Shardul Amarchand Mangaldas & Co
The digital payments ecosystem has made substantial progress over the last few years. The country has witnessed a shift from paper to electronic payment methods with the introduction of innovative payment products such as...

Cryptocurrency circular: Unintended consequences?

By Arun Prabhu, Cyril Amarchand Mangaldas
Cryptocurrencies use cryptographic functions rather than central banks or ledgers to validate transactions and are an increasingly important part of the global financial landscape. The absence of central regulation or records enables transactions in...

The future is fintech

Fintech has dramatically altered our landscape – the way we live as a society and conduct business. In the first part of a special series on technology, Leo Long explores how Indian and other...

The wisdom (or lack of wisdom) of the crowd

By Mathew Chacko and Praveen Raju, Spice Route Legal
India’s underserved debt and equity investment markets have seen a proliferation of specialized lenders creating avenues for capital that used to be stashed under beds to be put to better (hopefully) and riskier (definitely)...
disruptive technology as convenience

Disruptive technology or disruption disguised as convenience

By Gaurav Sahay and Ashita Sahay, SNG & Partners
Finance, bookkeeping, transaction-making, investment, credit, insurance and trade have always operated under the strict eye of the regulator. The sector has always been a conventional one and an authoritarian compliance regime has overseen its...
Digital disruption in the finance and banking sector

Disruptive technology or disruption disguised as convenience

By Gaurav Sahay and Ashita Sahay, SNG & Partners
Finance, book-keeping, transaction-making, investment, credit, insurance and trade have always operated under the strict eye of the regulator. The sector has always been a conventional one, and an authoritarian compliance regime has overseen its...
Data protection Lagna-Panda-is-a-managing-associate-at-Chandhiok-&-Mahajan

Non-fungible tokens: The new kid on the block

By Lagna Panda, Chandhiok & Mahajan
In March 2021, Beeple, an American digital artist auctioned a non-fungible token (NFT) of an artwork he had created for an eye-popping USD69 million. The same month, Jack Dorsey, the CEO of Twitter, sold...

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