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ARTICLE · 13 MAY 2022

Regulating Big Tech In Financial Services  in India

Ikigai Law
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This post discusses RBI's concerns about Big Tech's presence in financial services and its proposed regulatory approach.

IndiaFinance and Banking
Ikigai Law
Ikigai Law
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This post discusses RBI's concerns about Big Tech's presence in financial services and its proposed regulatory approach.

"In God we trust. In Big Tech we antitrust?" was one of our favourite stories from last year. It was about Big Tech's tussle with US and Indian anti-trust laws. And concerns of anti-trust regulators around Big Tech's monopoly. It also resonated with Big Tech's foray in India's financial sector. Which is making financial regulators equally anxious.

The RBI has also voiced its concerns in July, 2021. In its financial stability report, RBI flagged how Big Tech's foray in India's financial sector creates competition, operational, data privacy, and cyber security risks. RBI is fearful that Big Tech companies are too big to fail, which could pose systemic risks. 

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