In early September 2021, eight major Indian banks went live on the Account Aggregator Network,[1] marking the launch of the Reserve Bank of India’s (“RBI”) Account Aggregator System. Previously in 2016, the RBI had issued the Non-Banking Financial Company – Account Aggregator
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In July 2019, the Competition Law Review Committee put out a report[1] (“Report”) recommending several revisions to the Competition Act, 2002 (“Act”). On August 5, 2022, the Competition (Amendment) Bill, 2022 (“Proposed Bill”) was introduced in the Lok Sabha to capture some
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The Reserve Bank of India issued the Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022[1] (“Master Directions”) which is to be effective from July 1, 2022. These Master Directions set out the eligibility criteria that a
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On August 6, 2020, the Reserve Bank of India (“RBI”) permitted a pilot scheme for small value payments made in offline mode. Under this scheme, authorised Payment System Operators (“PSOs”) were allowed to provide offline payment solutions using cards, wallets or mobile
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The Indian Computer Emergency Response Team or CERT-In (“CERT”), an office within the Ministry of Electronics and Information Technology of the Government of India, issued directions on April 28, 2022 (“Directions”), under sub-section (6) of Section 70B of the Information Technology Act,
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RBI has announced a change in policy for full-KYC Prepaid Payment Instruments (“PPIs”). The changes are aimed at accelerating and incentivising interoperability between PPIs issued by banks and non-banks by an update to the Master Directions on Prepaid Payment Instruments[1] (“Master Directions”).
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The Indian telecom sector has needed modifications within its regulatory framework to develop a robust infrastructure, promote healthy competition and provide broadband access across the country, including the marginalized areas. The Government has recently announced relief packages in the form of substantial
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NPCI introduced the e-RUPI, which is a prepaid voucher/ prepaid instrument) developed on the Unified Payments Interface (UPI) platform. The prepaid voucher is will be in the form of QR code or will be SMS string-based[1] and can be received on a
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Introduction. To further the demand of the local population to employ Kannadigas in private establishments and to avoid accidents by minimizing the communication gap, the Government of Karnataka (“State Government”) has formulated and issued the Karnataka Industrial Employment (Standing Orders) (Amendment) Rules,
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No specific legislation in India provides for protection of trade secrets and confidential information. Nevertheless, Indian Courts have broadly interpreted and upheld the protection of confidential information in numerous cases. Each country may have a different approach to protect the owner of
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