TagInformation Technology

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...

Perceiving Data Protection within the Umbrella of Competition Law

[Vishal Singh is a III Year student at Dr. Ram Manohar Lohiya National Law University, Lucknow] The Competition Act, 2002 has been enacted to prevent activities that have an adverse effect on competition in the Indian Market. The Preamble of the Act unambiguously enunciates the role of ‘economic efficiency’ in competition law. The goal of competition law is to build a competitive market and thus...

Data Protection – Part 2: Impact on the Financial Segment

[Manal Shah is a B.A. LL.B. (Hons.) student at NUALS Kochi and runs the Securities Blawg. The first part of this series is available here] Financial institutions deal with sensitive information. If they suffer a data breach, there is a significant amount of data at the impending threat of criminal activities such as thefts and identity frauds. It is thus important to understand the impact of this...

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