The Steering Committee on Fintech Related Issues (‘Committee’), set up by the Ministry of Finance, recently issued its report (‘Report’)[1], in which it takes stock of developments in the fintech space, globally and in India. It makes 45 recommendations to enable fintech, particularly in critical sectors of the economy, and to promote ‘ease of doingRead more
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Aparna Sai and Ranajit Dam cover Ikigai Law’s views in their article “Start-up Nation” in the June edition of Asian Legal Business. The article discusses how the startup practice is evolving for law firms and how lawyers are playing a critical role in the development of the sector. Here are some excerpts: Anirudh Rastogi, founderRead more
Comments To The Sebi’s Discussion Paper On Framework For Regulatory Sandbox The Securities and Exchange Board of India (“SEBI”) released its discussion paper on the framework for a regulatory sandbox (“RS”) (“Discussion Paper”) on 28 May 2019. The SEBI’s perceptiveness to the significance of an RS as a regulatory tool is commendable. Its decisionRead more
News has it that Facebook is foraying into online remittances and will introduce a tethered digital asset named “Libra” to fuel this system. Libra will be linked with the INR (i.e. the Indian National Rupee) and each Libra will always convert to 1 INR. How will this play with the April 2018 RBI circular that imposed a deRead more
In February 2017, Whatsapp had announced its plans to introduce a UPI-based payments service in India. Since then, a number of developments have taken place with respect to the payments service, including a discussion on privacy concerns surrounding the application’s use of customer data. This post provides a timeline of all the developments that haveRead more
The Government’s Position on Cryptocurrency While the novelty factor of cryptocurrency and the blockchain technology has not abated since 2009, Indian regulators have only recently begun evaluating the financial and security risks posed by virtual currencies such as Bitcoin. The Finance Minister, Mr. Arun Jaitley, announced in his 2018 Budget Speech that the government doesRead more
The 2018 budget featured a number of announcements that may be of interest to anyone engaged with the technology sector or the startup ecosystem. This note takes a look at some of these announcements in order to identify how the business environment may be impacted by the 2018 Budget Economic Growth in the last year:Read more