INSUBCONTINENT EXCLUSIVE:
Lawsuit claims Indian financial regulators permits unregulated operation of techfin firms.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
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.A bench of Chief Justice D N Patel and Justice Prateek Jalan issued notice to the
ministries of finance and law as also RBI, National Payments Corporation of India (NPCI), Irda, Sebi and the Pension Fund Regulatory and
Development Authority (PFRDA) seeking their stand on the plea by Resmi P Bhaskaran in her plea filed through advocate Deepak Prakash, has
could adversely affect the financial stability of the country.
