Photo of Anirban Mohapatra

Partner in the General Corporate Practice at the Bengaluru office of Cyril Amarchand Mangaldas, and is part of the Technology, Media and Telecommunications practice of the Firm. Anirban regularly advises clients across diverse sectors including healthcare, manufacturing, banking, information technology, automobile, financial services media and broadcasting on transactional as well as advisory matters. Anirban supports transactions by handling the entire documentation process for large scale technology transactions and advice on emerging trends in the data protection and privacy space. Anirban works with the business teams of clients closely to ideate and evolve legal documentation, policies and best practices based on commercial requirements of clients and interactions with regulators such as the Telecom Regulatory Authority of India (“TRAI”). He graduated from West Bengal National University of Juridical Sciences, and first joined the firm in 2012. He can be reached at anirban.mohapatra@cyrilshroff.com.

The increasing adoption and deployment of artificial intelligence (“AI”) enabled tools, platforms, and solutions by market participants in the financial sector, including the securities markets, is now widely recognised, both in India[1] and globally[2].Continue Reading The Consultation Paper on AI Regulation : A Case for Nuance?

Introduction:

Technology has fundamentally transformed the financial services industry, with many contemporary financial institutions (“FI”) adopting a digital-first or exclusively online business model. With third-party technology service providers handling critical functions for FIs, as outsourced partners, regulators such as the Reserve Bank of India (“RBI”), Securities and Exchange Board of India (“SEBI”) and the Insurance Regulatory and Development Authority of India (“IRDAI”) have issued their respective guidelines on outsourcing/ adoption of cloud services.[i] Additionally, FIs are also required to comply with general data protection laws.[ii]Continue Reading FIG Paper (No. 46 – Series 3): Contracting Considerations for Financial Institutions

FIG Paper (No. 44 - Series 3): RBI Consolidates Directions on Digital Lending: Implications for REs & LSPs

Background:

The Reserve Bank of India (“RBI”) on May 8, 2025, issued the Reserve Bank of India (Digital Lending) Directions, 2025 (“DL Directions”).

The idea of these new directions was to consolidate the various directions and circulars on digital lending by Regulated Entities (“RE”), previously issued by the RBI[1], provide greater clarity on consumer/ customer centric rights from a customer protection point of view and create a repository with the RBI of all digital lending apps/ platforms (“DLA”) provided by REs/ lending service providers (“LSP”).Continue Reading FIG Paper (No. 44 – Series 3): RBI Consolidates Directions on Digital Lending: Implications for REs & LSPs