Regulatory Ramblings episode 17 with Aaron Kamath and Purushotham Kittane of the law firm Nishith Desai Associates. Aaron, Bangalore-based leader of the FinTech Law & Policy Practice at firm Nishith Desai Associates, and his colleague Purushotham, speak to Regulatory Ramblings host Ajay Shamdasani about the following: • The evolving landscape of fintech models in India: Contributing factors and investments • The traditional role of payment service providers viz card networks and banks: Recent fundamental shift in the licensing regime • Digital lending: Evolving models, buy-now-pay-later, and recent guidelines on lending apps • E-wallets: Co-branding and white-labeling issues, and cross-border fund flow issues • UPI and mobile-based banking: Arteries of India’s digital payments ecosystem • The regulatory conundrum around cryptocurrencies • Taxation and virtual digital assets • CBDCs and the move towards ‘E-Rupees’ Topic markers 0:00 Start 1:49 India’s evolving FinTech Landscape 8:25 Culture and financial landscape in India 10:53 How Fintechs drive traditional financial services 18:56 Perceptions on Crypto 23:54 Fintech and Digital Lending 31:57 e-Wallets and India's Gaming Industry 42:03 Regulating Crypto in India: Commodity or Currency? 45:53 India's Blockchain Strategy 48:41 Monitoring and Taxing Crypto 56:30 India's CBDC: The Digital Rupee 1:01:58 India’s Unified Payments Interface or UPI 1:04:36 Fintech driving India's Financial Inclusion 1:08:38 The Lopsided Tax Regimes: Digital Assets & NFTs 1:13:34 UPI and Cross Border Payments