TagInformation Technology

The Dramatic Return of Virtual Currencies to India

[Meenal Maheshwari Shah is the lead transactional counsel of the Essar Group. The post was first published on In-House Community] A virtual currency (VC) is type of digital currency which is a representation of value, issued by private developers and denominated in their own unit of account. The concept of VC covers a wider array of “currencies,” ranging from simple IOUs of issuers (such as...

Blueprint of a Fintech Regulatory Sandbox Law for India

[Shehnaz Ahmed is a Senior Resident Fellow and Krittika Chavaly a Project Fellow for Fintech, both at Vidhi Centre for Legal Policy, a New Delhi based independent think-tank. [This post was originally published on the Oxford Business Law Blog, and can be accessed  here] As technological innovation disrupts the financial sector, regulators across the world continue to explore and experiment with...

Crypto-Trading’s Tryst with Destiny

[Megha Mittal is an Associate with Vinod Kothari & Co.] Amidst apprehensions of crypto-trading being a highly volatile and risk-concentric venture, the Supreme Court, in its order dated 4 March 2020 observed that the Reserve Bank of India (RBI), a staunch critic of cryptocurrencies, failed to present any empirical evidence substantiating cryptocurrency’s negative impact on the banking and...

Call for Papers: NLSIU’s Indian Journal of Law & Technology

[Announcement on behalf of the Indian Journal of Law & Technology] The Indian Journal of Law & Technology (IJLT) is now accepting submissions for Volume 16. Please send in your submissions before April 15, 2020 in order for them to be considered. About the Journal The Indian Journal of Law and Technology (IJLT) is a student-edited, peer-reviewed, completely open access law journal...

Delhi High Court Allows E-commerce Platforms to Sell Products of Direct Selling Entities

[Kajal Kashyap is a 4th year B.A. LL.B. (Hons) student at NALSAR University of Law] In Amazon Sellers Services Pvt. Ltd. v. Amway India Enterprises Pvt. Ltd., a division bench of the Delhi High Court overruled an earlier judgment passed in 2019 by a single judge of the same court, thereby allowing e-commerce platforms like Amazon and Flipkart to sell products of Amway and other direct selling...

Overlooked Policy Concerns at the Intersection of Technology and Competition Law

[Prateek Surisetti is a graduate of the NALSAR University of Law. The author draws ideas for this post from his longer article “Matrimony.com Ltd v Google: an Indian perspective on a world-wide regulatory phenomenon”, (2020) 41 European Competition Law Review 26] While various commentators have analyzed the rather extensive legal issues arising from the 2018 Competition Commission of India...

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...

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