Fintech regulations, financial stability, and data privacy: So, what is the path to go forward? January 27, 2021, 9:14 PM IST
Anand Kumar, founder of Pier Counsel
In a recent development, the Delhi High Court received a Public Interest Litigation (PIL) from an applied economist, Reshmi P Bhaskaran, seeking to regulate the entry and operations of ‘TechFin’ platforms. Inter alia, the PIL asked the High Court to help develop a regulatory framework around the TechFin industry, also popularly known as the FinTech domain. Since then, the High Court has sought replies from various stakeholders, including the Ministry of Law, Ministry of Finance, RBI, SEBI, and NPCI regarding this issue.