Introduction   The Reserve Bank of India (“ RBI ”) has, over time, moved from scattered circulars to a structured framework for regulating who may own shares in an Indian bank, how much they may own, and how far those shares may translate into voting power. The previous position for “banking companies” was set out in the Master Direction – Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023 (“ 2023 Directions ”), re

Introduction With the rapid growth of digital payments in India, safeguarding transactions has become one of our top priorities. On September 25, 2025, the Reserve Bank of India (“ RBI ”) introduced new guidelines - RBI (Authentication mechanisms for digital payment transactions) Directions, 2025 (“ Directions 2025 ”) for authentication mechanisms for digital payment transactions. From April 1, 2026, all Payment System Providers and Payment System Participants, including bank

The Reserve Bank of India (“ RBI ”) has released its Draft Directions on Lending to Related Parties for Non-Banking Financial Companies (NBFCs), 2025, inviting public feedback by October 31st, 2025. These proposed norms aim to tighten oversight, eliminate regulatory arbitrage, and bring India's NBFC sector closer to global standards of transparency and accountability. For banking and financial services industries, this is more than a compliance update, it's a strategic inflec

The Reserve Bank of India's (“ RBI ”) Commercial Banks – Governance Directions, 2025 (“Directions”) mark a decisive shift in how Indian banks are expected to approach power, responsibility, and risk. Far from being a mere consolidation of circulars, Directions aim to transform governance from a checklist exercise into an institutional culture rooted in independence, accountability, and an explicit alignment between risk and reward. A New Architecture of Accountability The Dir

Overview The Reserve Bank of India (Universal Banks - Licensing) Guidelines, 2025 (“ Guidelines ”) represent a significant update to India's banking licensing system regime. These Guidelines are a revised consolidation of the guidelines issued on February 22, 2013, for Licensing of New Banks in the Private Sector and guidelines for ‘On Tap' Licensing of Universal Banks in the Private Sector, 2016. What's new this time is a most transparent process for private bank licences an

Introduction On September 19, 2025, the International Financial Services Centres Authority (“ IFSCA ”) issued the Draft FinTech Sandbox Framework, ( “Draft Framework ”), a strategic initiative designed to empower both domestic and international entities to test disruptive financial technologies in a controlled, live environment. The Draft Framework seeks to promote the growth of fintech innovations at International Financial Services Centres (“ IFSCs ”) from Indian and foreig

Introduction   The International Financial Services Centres Authority (“ IFSCA ”) has notified the IFSCA (Fund Management) Regulations, 2025 (“ FM Regulations, 2025 ”), introducing a refreshed regulatory framework for fund management activities within IFSCs. These new regulations repeal and replace the earlier IFSCA (Fund Management) Regulations, 2022 (“ FM Regulations, 2022 ”), aiming to enhance operational clarity, investor protection, and alignment with international stand

Introduction On 21 Nov 2025, the Ministry of Labour & Employment announced the implementation of the Four Labour Codes. The four laws namely- Code on Wages, 2019 and the Code on Social Security, 2020, Occupational Safety, Health and Working Conditions Code, 2020 and the Industrial Relations Code, 2020 have now been implemented. The move consolidated 29 laws into a unified framework. Key Highlights Replaces over two dozen statutes with four comprehensive Codes: The Code on Wag

Introduction In recent years, the Financial Intelligence Unit, India (“ FIU-IND ”) has significantly sharpened its enforcement approach...

Prefer listening over reading? Tune in to our podcast for the full article: Lexpresso by AK & Partners – Legal Shots on Banking, Fintech...

Prefer listening over reading? Tune in to our podcast for the full article: Lexpresso by AK & Partners – Legal Shots on Banking, Fintech...

Introduction The Reserve Bank of India (RBI) has issued the Prepayment Charges on Loans Directions, 2025  on July 2, 2025. These will...

Introduction The Reserve Bank of India (RBI) has issued the Reserve Bank of India (Project Finance) Directions, 2025 (“ New Directions...

Background The Reserve Bank of India (" RBI ") on June 12, 2025 issued the Reserve Bank of India (Know Your Customer (KYC)) (Amendment)...

Background The Reserve Bank of India (“ RBI ”) on May 23, 2025, has invited public comments on the draft circular  Reserve Bank of India...

Background The Reserve Bank of India (“ RBI ”) has made a big change in how it oversees India's growing digital payments landscape. RBI...

1. Background 1.1. On April 15, 2024 the Reserve Bank of India (“RBI”) released its notification on the Key Facts Statement (“KFS”) for...

The Reserve Bank of India ("RBI") has noted a growing trend among lending service providers ("LSPs") in offering aggregation services for...

The Ministry of Corporate Affairs (“MCA”), vide its adjudication order dated April 03, 2024 (“Order”), has levied a penalty amounting to...

The Ministry of Electronics and Information Technology (“MeitY”) vide its advisory dated March 01, 2024 (“Advisory”) has highlighted...