International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 7, Issue 1 (January-February 2025) Submit your research before last 3 days of February to publish your research paper in the issue of January-February.
Submit Research Paper Join as a Reviewer

Plagiarism is checked by the leading plagiarism checker TurnItIn

Call for Paper

Volume 7 Issue 1
January-February 2025

Submit your research paper

Indexing Partners
Academia Advanced Sciences Index Bielefeld Academic Search Engine CiteSeer DRJI Google Scholar Independent Search Engine & Directory Network ISI (International Scientific Indexing) Issuu Mendeley Research Networks
RefSeek ResearcherId - Thomson Reuters ResearchGate Scirus Scribd Semantic Scholar UTeM - Universiti Teknikal Malaysia Melaka Wiki for Call for Papers WorldCat Zenodo

Legal and Regulatory Problems for AI in Fintech in India

Author(s) Danish Husain, Mishbah Masood, Sonali Singh
Country India
Abstract The emergence of Artificial Intelligence (AI) technology within the financial technology (Fintech) sector has transformed Indian financial services by delivering improved efficiency and customized customer relationships together with creative solutions. However, the fast spread of AI technology throughout the fintech sector and the slowly developing AI and fintech regulatory frameworks in India pose substantial legal, regulatory, and ethical compliance difficulties. This paper focuses on issues involving the protection of digital personal data together with managing algorithmic discrimination and requiring transparency and accountability while safeguarding consumer rights. It critically examines the gaps in the existing frameworks including the Digital Personal Data Protection Act, of 2023, the Companies Act, of 2013, and the guidelines issued by RBI, SEBI, and IRDAI which remain unclear in addressing AI-related challenges. It compares the Indian regulatory frameworks with the foreign AI regulatory frameworks to analyze the shortcomings in our legal framework and to give recommendations to address these issues including the challenges faced by fintech startups, and corporations and concerns of maintaining fairness, transparency, and accountability. This paper (AI in Fintech- Legal and Regulatory Challenges in India) highlights the importance and the need for a comprehensive regulatory framework to address the legal and regulatory issues and achieve a balance between promoting AI-driven growth and reducing related dangers as AI continues to transform India's Fintech sector.
Keywords Artificial Intelligence (AI), Financial Technology (Fintech), AI Regulatory Framework, Data Privacy and AI Governance.
Published In Volume 7, Issue 1, January-February 2025
Published On 2025-02-21
Cite This Legal and Regulatory Problems for AI in Fintech in India - Danish Husain, Mishbah Masood, Sonali Singh - IJFMR Volume 7, Issue 1, January-February 2025. DOI 10.36948/ijfmr.2025.v07i01.37447
DOI https://doi.org/10.36948/ijfmr.2025.v07i01.37447
Short DOI https://doi.org/g85sx5
View / Download PDF File

Share this



E-ISSN 2582-2160
CrossRef

CrossRef DOI is assigned to each research paper published in our journal.

IJFMR DOI prefix is
10.36948/ijfmr

Downloads
Research Paper Format Copyright Permission Form and Undertaking Form Cover Page Vol 7 Isu 1Cover Page Vol 6 Isu 6Cover Page Vol 6 Isu 5

All research papers published on this website are licensed under Creative Commons Attribution-ShareAlike 4.0 International License, and all rights belong to their respective authors/researchers.

CC-BY-SA Open Access

About IJFMR
Fees & Payment
Current Issue
Publication Archive 		Submit Research Paper
Track Submission Status
Publication Guidelines
Publication Ethics
Peer Review & Plagiarism 		Join as a Reviewer
Editors & Reviewers
Reviewer Referral Program
Get Reviewer Membership Certi. 		Website/Journal Policies
Usage Policy
Content Policies
Privacy Policy
Contact Us +91-9687-828-838 editor@ijfmr.com