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ARTICLE · 07 JUNE 2021

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Recent Legal Developments And Market Updates In India

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The fintech sector has continued to grow in India despite the Covid-19 pandemic challenges. According to a recent report titled 'Pulse of Fintech H2'20' published by KPMG...

IndiaTechnology
Avimukt Dar
Avimukt Dar
Suneeth Katarki
Suneeth Katarki
Namita Viswanath
Namita Viswanath
Shreya Suri
Shreya Suri
Shobhika Upadhyay
Shobhika Upadhyay
Nilima Pant
Nilima Pant
Shantanu Mukul
Shantanu Mukul
Author LinkedIn connections

INTRODUCTION

The fintech sector has continued to grow in India despite the Covid-19 pandemic challenges. According to a recent report titled 'Pulse of Fintech H2'20' published by KPMG, India is now one of the largest fintech markets worldwide and has managed to attract USD 2.7 billion in fintech investment in 2020, the second-best year after the 2019 peak of USD 3.5 billion. To this extent, funding continued to remain the highest in the digital payments space, with an increased investor focus on late stage companies and profitability.1

Digital payments have now become well entrenched in Indian households across income groups, according to a recent study conducted by the People Research on India's Consumer Economy (PRICE) in partnership with the National Payments Corporation of India ("NPCI").2 In the backdrop of this growth in digital payments adoption, there is now an increased regulatory focus on consumer protection, security controls and tokenisation to

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