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ARTICLE · 01 MARCH 2022

Potential GST Implications vis a vis ‘First Loan Default Guarantees' (‘FLDG') – Is The FinTech Sector Ready?

Khaitan & Co.
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Evolution of technology has not left any aspect of our lives untouched. Our habits, from eating to mobility have witnessed paradigm transformation with technology and have evolved to be managed with a click.

IndiaTechnology
Ayush Mehrotra
Ayush Mehrotra
Sudipta Bhattacharjee
Sudipta Bhattacharjee
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1. Introduction and backdrop

Evolution of technology has not left any aspect of our lives untouched. Our habits, from eating to mobility have witnessed paradigm transformation with technology and have evolved to be managed with a click. Embracing digitisation, the banking and financial services industry has been at the forefront to adopt technology, both for efficiency and security of transactions.

'Fintech', which has become a buzzword in recent times, is an amalgamation coined from 'finance' and 'technology' to represent businesses that employ technology to enhance or automate its finance related products and/or service offerings. New age fintech players have taken the industry by storm to create a niche for themselves despite the complex regulatory framework.

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