Developments in the FinTech sector – Twenty-fourth edition (July – September 2024)
This edition of the newsletter explores the Reserve Bank of India’s (“RBI”) latest regulations that are set to shape the future of cybersecurity, digital payments, and financial inclusion in India. With the introduction of the Master Directions on Cyber Resilience for Non-Bank Payment System Operators and updates to the Aadhaar Enabled Payment System, RBI aims to strengthen trust and security in financial transactions. The newsletter also highlights innovations like Unified Lending Interface (“UPI”) circle, unified lending interface, and UPI interoperable cash deposit, designed to enhance convenience and accessibility for both businesses and individuals. These developments underscore RBI’s commitment to fostering secure, seamless, and inclusive digital financial services.
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