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ARTICLE · 09 SEPTEMBER 2024

Fintech Newsletter: Recent Legal Developments And Market Updates In India

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The month of June 2024 has seen a flurry of regulatory activity aimed at fostering innovation, while ensuring robust governance and compliance frameworks.

IndiaTechnology
Namita Viswanath
Namita Viswanath
Shreya Suri
Shreya Suri
Sarthak Doshi
Sarthak Doshi
Falaq Patel
Falaq Patel
Gursimar Singh Setia
Gursimar Singh Setia
Author LinkedIn connections

INTRODUCTION

The month of June 2024 has seen a flurry of regulatory activity aimed at fostering innovation, while ensuring robust governance and compliance frameworks. While not all developments may directly impact the 'tech' aspect of fintech, they have significant ramifications on regulated entities having a digital interface. For instance, the Reserve Bank of India ("RBI") has taken noteworthy steps, including liberalising norms for overseas portfolio investments and opening applications for self-regulatory organisations in the non-banking financial company ("NBFC") sector. In parallel, other regulatory bodies like the Securities and Exchange Board of India ("SEBI") has updated its guidelines on anti-money laundering measures, while Insurance Regulatory Development Authority of India ("IRDAI") has streamlined governance norms for insurers. The International Financial Services Centre Authority ("IFSCA") has also been at the forefront, issuing clarifications on

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