Delhi High Court Seeks RBI, Sebi Response On Regulating Facebook, Google, Amazon

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The Delhi High Court Wednesday sought response of the Centre, Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi), Insurance Regulatory and Development Authority (Irda) and National Payments Corporation of India (NPCI) on a Public Interest Litigation (PIL) seeking a detailed legal framework for regulating operations of techfin companies such as Facebook, Google and Amazon in India’s financial sector space.

As the petition filed by an economist, techfin entities are technology, telecommunications or e-commerce companies that have ventured into the financial sector to provide financial services and need to be regulated.

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