Anish Jaipuriar and  Karan Vohra

Introduction The Reserve Bank of India (“RBI”), in a landmark regulatory move, on September 15, 2025 issued the Master Direction on Regulation of Payment Aggregators (PA) (“Master Directions 2025”). The Master Directions 2025 consolidate earlier circulars and guidelines, rationalizing the regulation of entities aggregating payments on behalf of merchants through various payment channels. This regulatory intervention underscores […]

The Department of Telecommunications (“DoT”) has released the draft National Telecom Policy 2025 (“NTP-25”) for public consultation, a pivotal document that charts the sector’s trajectory towards a digitized, secure, and sustainable future. NTP-25 lays out ambitious targets, proposes important policy changes, and anticipates significant impacts across the entire telecom value chain. Key Proposals and 2030

On June 12, 2025, the Reserve Bank of India (“RBI”) issued the Reserve Bank of India (Know Your Customer (“KYC”) (Amendment) Directions, 2025, (“2025 KYC Amendment Directions”) introducing significant updates to the existing KYC Directions, 2016 (“Master Direction”). These changes (already in effect) reflect RBI’s ongoing efforts to enhance consumer protection, streamline compliance, and address