The term ‘fintech’, so widely used in India, is not defined by any Indian law. Fintech is broadly (and popularly) understood as that service or product which cuts across technology and finance. This means everything from blockchain/cryptocurrency, Artificial Intelligence and data to the Internet- of-things (IoT), falls within the ambit of fintech. It involves a multiplicity of regulators and stakeholders. With fintech now becoming integral to India’s development agenda, and given its dynamic nature, it is critical to create a holistic legal definition for the term and ensure a comprehensive interplay of regulations/ policies/ laws for all the elements that are considered to be fintech. This will enable the streamlined growth of fintech in India, where it is currently at a nascent stage.
With the objective of providing a deeper understanding of the dynamism of the term ‘fintech’, this infographic sets out its core elements in India and their corresponding regulatory status.
(PDF)
Ambika Khanna is Senior Researcher, International Law, Gateway House
Designed by Daniella Singh, Design Associate, Gateway House
This infographic was exclusively written for Gateway House: Indian Council on Global Relations. You can read more exclusive content here.
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© Copyright 2019 Gateway House: Indian Council on Global Relations. All rights reserved. Any unauthorized copying or reproduction is strictly prohibited.
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