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On January 29, 2024, the International Financial Services Centre Authority (“IFSCA”) notified the IFSCA (Payment Services) Regulations, 2024, for the regulation and supervision of any person propo...
The Indian fintech market has continued to grow and evolve, with the Covid-19 pandemic accelerating digitization amongst consumers, micro, small and medium enterprises (“MSMEs”), banks, and other financial institutions, including in rural and remote parts of India. First-time user cohorts who were constrained to transact digitally during government-imposed lockdowns early last year, have taken to using digital payment options in a big way, post the lockdown relaxations. Certain consumer behavioral changes with the recent pandemic, such as growth in the e-commerce sector, teleconsultations, online streaming, and distance learning, are likely to continue fuelling the expansion
