TagInformation Technology

Steering Committee Report on Digital Lending: Issues and Solutions

[Richa Saraf is a Legal Advisor at Vinod Kothari Consultants Pvt. Ltd.] The Department of Economic Affairs has recently released the Report of the Steering Committee on Fintech Related Issues, which discusses the various issues faced by fintech companies. This post seeks to focus on the issues pertaining to online lending, and the recommendations offer by the Steering Committee to address the...

Decoding India’s Regulatory Sandbox Program for Innovations in Financial Technology

[Anirban Roy Choudhury is a banking and finance lawyer, currently pursuing Master of Laws in Finance at the Institute for Law and Finance, Goethe University Frankfurt] Regulatory sandboxes are designed to provide a controlled environment for testing innovative financial or other products and services on a real-time basis, subject to certain regulatory safeguards and supervision. Its primary...

Open Banking Standard in the Indian Context

[Kishan Gupta is a B.A. LL.B. (Hons.) student at Dr. RML National Law University, Lucknow and Managing Editor of the RMLNLU Arbitration Law Blog] Understanding Open Banking Standard Until now, the names of large banks like SBI, ICICI and PNB were considered synonymous with custodian of customer’s financial data. Generally, these traditional banks store customer’s financial information for their...

Complexities in Regulating Artificial Intelligence & Machine Learning in the Indian Financial Market

[Rishabh Sharma is a IV Year student at NALSAR University of Law, Hyderabad] The Algorithmic Trading Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2025 Report forecasts the global algorithmic market in trading to expand at a compound annual growth rate of 11.8 percent between the period from 2019 to 2025. In the backdrop of such a rapidly booming global trading...

SEBI’s Framework for Innovation Sandbox – Infusing FinTech into India’s Securities Markets

[Mansi Mishra is a 2nd year B.A.LL.B. (Hons) student at National Law Institute University, Bhopal] The Securities and Exchange Board of India (SEBI), amidst much speculation in the securities market, proposed the “Framework for Innovation Sandbox” by way of its circular dated 20 May 2019. This post seeks to analyse the key proposals of the SEBI framework and to highlight the takeaways for the...

Announcement: 16th Consilience Conference at NLSIU, Bangalore

[Announcement on behalf of the Law and Technology Society, NLSIU Bangalore] The Law and Technology Society is pleased to host the 16th Consilience Conference on “Intermediary Liability and Content Regulation: Principles, Perspective and Solutions” on 25th May at the university campus in Bangalore. The objective of this year’s conference is to bring together experts from diverse backgrounds...

Consumer Protection and Payment Wallets – A Case for Tech-based Intervention

[Debanshu Mukherjee heads the Corporate Law and Financial Regulation vertical at the Vidhi Centre for Legal Policy, a New Delhi based independent think-tank. Shehnaz Ahmed is a Senior Resident Fellow at the Vidhi Centre for Legal Policy. Param Pandya is a Research Fellow at the Vidhi Centre for Legal Policy. An expanded version of this post has appeared in the Oxford Business Law Blog]...

A Sandbox for Indian Fintechs

[Manal Shah is a student at the National University of Advanced Legal Studies, Kochi and writes at thesecuritiesblawg.in] In his keynote address at the NITI Aayog FinTech Conclave 2019 held on 25 March 2019, the Governor of the Reserve Bank of India (RBI), Shaktikanta Das, addressed and acknowledged the growth and potential for fintech firms in India. While doing so, he acknowledged that India...

India’s Draft Privacy Law: Can Blockchain Forget?

[Jishnu M Nair is an Attorney at IBM India/South Asia. The opinions are personal views of the author and do not necessarily represent IBM’s positions, strategies or opinions.] The right to be forgotten is one of the key requirements of the recently released draft of India’s personal data protection law. Can blockchain adapt to this key concept? In Mario Costeja Gonzalez[i], the Court...

RBI’s Ombudsman Scheme for Digital Transactions

[Falaq Patel is a 4th Year BBA-LLB student at Symbiosis Law School, Hyderabad] The Payment and Settlement Systems Act, 2007 (the ‘Act’) is a legislation designed to provide the Reserve Bank of India (‘RBI’) with regulatory and supervisory powers over all payment systems in India and authorise it to set up a committee of its central board, known as the Board for Regulation of Payment and...

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