Category Archives: Electronic Delivery Of Services In India

The Banking, Financial And Regulatory Environment In India

E-commerce in India is flourishing and many business houses and companies are investing in various forms of e-commerce commercial activities in India. However, a majority of e-commerce payments are still made in an offline manner. The cash on delivery may harm e-commerce in India in the long run. A shift toward online payments is not only desirable but is also inevitable. In fact, an integrated modern banking law for India is in pipeline that may strengthen online payments making in India.

So what is the present techno legal banking, financial and regulatory environment prevailing in India? Perry4Law and Perry4Law Techno Legal Base (PTLB) have compiled a list of their important research works pertaining to banking and financial environment existing in India. The following articles are worth considering in this regard:

(1) Internet Banking Guidelines in India by RBI

(2) National Telecom Policy 2012 of India by TRAI

(3) Compounding Authority Procedure under Indian FEMA Act 1999

(4) Procedure for Compounding of Contraventions under Indian FEMA, 1999

(5) RBI Delegates Compounding Powers under FEMA to Its Regional Offices

(6) Compounding Of Contraventions under FEMA, 1999

(7) Banking Related Mergers and Acquisitions (M&As) in India

(8) Banks in India Are Not Providing Positive Confirmations of NEFT Transactions

(9) National Electronic Funds Transfer (NEFT) System of India: RBI Guidelines

(10) Mobile Banking Transactions in India – Operative Guidelines for Banks by RBI

(11) Enhanced Due Diligence Measures by Banks of India for Higher Risk Customers

(12) ECB for MFIs and NGOs Engaged In Micro Finance Activities under Automatic Route in India

(13) MFIs In India Allowed To Raise ECBs Up To USD 10 Million

(14) SEBI Contemplating Electronic Initial Public Offer (E-IPO) In India

(15) SEBI Guidelines on Outsourcing of Activities by Intermediaries

(16) RBI: Indian Banks’ Investments in Non Subsidiary and Non Financial Services Companies

(17) Risk Management and Inter Bank Dealings in India

When the e-commerce activities would increase in India, online payment would be the preferred mode of payment by online consumers and customers. This is the reason why companies like PayPal are planning to enter Chinese and Indian online payment markets.

Similarly, with a growing emphasis upon electronic delivery of services in India by Indian government, online payment market of India becomes a good place to make huge profits.

However, both e-commerce players and online payment players are required to ensure cyber law due diligence in India. The cyber law due diligence for Indian companies is very stringent and there is no reason to take it lightly. In fact, cyber due diligence for foreign and Indian websites in India is an issue that is frequently agitated before Indian courts. Further, legal requirements of undertaking e-commerce in India must also be strictly followed.

Perry4Law and PTLB hope this compilation of research works pertaining to banking, financial and regulatory environment existing in India would be helpful to all concerned. We wish all the best to all e-commerce and online payment handling companies and institutions.