The Reserve Bank of India (“RBI“) operates as one of the Indian regulators in relation to fintech. Over the years, the RBI has approached the various developments, innovations and disruptions in fintech in a balanced and future oriented manner. This may be pursuant to releasing discussion papers, press notes, frequently asked questions, draft regulations and master directions.
This is a unique, discussion-based approach towards regulating fintech and throws an insight towards the regulatory approach taken by the RBI. In this article we attempt to shed some light on the previous steps taken by the RBI and the quasi-jurisprudence created.