Industry Practice · Delhi NCR
Fintech Legal Advisory in India
India's fintech regulation is the most complex in the world. Navigate it with precision.
100+
Fintech Companies Advised
30+
RBI/SEBI Licences Obtained
5
Regulators Covered
The Industry Landscape
India's fintech sector is regulated by multiple authorities simultaneously — RBI for payment systems, lending, and banking; SEBI for investment platforms, robo-advisory, and securities intermediaries; IRDAI for insurtech; and the PFRDA for retirement-focused products. A fintech startup that fails to identify its applicable regulatory framework early can build a product that is technically illegal, faces shut-down risk, or requires expensive structural changes before institutional investors will engage. Corpus Juris Legal advises fintech companies across the regulatory identification, licensing, and ongoing compliance spectrum.
- RBI payment aggregator (PA) licence application and compliance
- NBFC registration and regulatory compliance advisory
- SEBI investment adviser, research analyst and PMS registration
- Lending regulation — digital lending guidelines compliance
- Account aggregator (AA) ecosystem legal advisory
- RBI sandbox application and regulatory testing framework
Frequently Asked Questions
Does a payment aggregator in India need an RBI licence?+
Yes. Payment aggregators (entities that facilitate payment collection between merchants and customers) must obtain authorisation from RBI under the Payment and Settlement Systems Act 2007. Existing PAs had to apply for authorisation by a specified deadline. New PAs must apply before commencing operations. Net worth requirements apply.
What is the RBI regulatory framework for digital lending?+
RBI's Digital Lending Guidelines (September 2022) require: all loan disbursals and repayments to flow directly between the borrower and the NBFC/bank (no pass-through through LSPs), disclosure of all-inclusive APR, key fact statements, and a cooling-off period. Third-party lending apps cannot collect repayments directly.
Can a foreign-funded fintech operate in regulated financial services in India?+
Yes, but FDI restrictions apply to certain regulated sectors — banking (74% cap), insurance (74% cap), multi-brand retail. For most fintech categories (payment aggregators, NBFCs, investment platforms), 100% FDI under the automatic route is permitted. However, regulatory approvals (RBI, SEBI, IRDAI) are required regardless of FDI compliance.
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