Digital Healthcare

The development in science and technology has scaled multiple heights and reached unprecedented levels of sophistication. Advanced methods are being used in all branches of research and technology, including medical diagnosis. Given that diagnosis is done either voluntarily or pursuant to a prescription, the field of medical testing is broad and encompasses a variety of situations. The process of diagnosis depends upon a range of variables, which includes diversified procedures, competent personnel, functional instruments, suitable facility or lab, reagent, etc. Each factor is as important as the other. Further, medical devices include a gamut of instruments ranging from a miniscule syringe used to collect blood samples, to sophisticated CT scanners. Both have the capacity to grossly impact a diagnosis. Hence, arises the need to minimise the variables and ensure uniformity in quality and standards. And, while the monitoring of medical devices, facilities and competent personnel are largely regulated, it is important to ensure that the diagnostic procedures are standardised.

Continue Reading Evolving Landscape of Diagnostics’ Regulation in India & Digital Healthcare

Financial institutions have invested heavily into artificial intelligence (“AI”) and machine learning (“ML”) techniques globally, and in India, over the past decade. There are estimates that AI technologies could potentially contribute towards US$ 1 trillion in additional value for the global banking sector, and a World Economic Forum survey indicated that seventy seven per cent of all respondents (151 fintechs and financial institutions from thirty three countries) anticipated AI to possess a high or a very high overall importance in their businesses in the near future. Tangible use-cases in the financial sector have resultantly sprung, benefitting both customers and investors through robo advisors, portfolio optimisation, and algorithmic trading bots. Financial institutions on their part have benefitted greatly through chat bots handling consumer interactions and grievances, identity verification (including video KYC), predictive analytics to mitigate and minimise frauds, etc.

Continue Reading FIG Paper (No. 19 – Series 1)- AI/ ML, ChatGPT: Legal and regulatory considerations for financial service use-cases

The last few years have seen an unprecedented rise in digital payment transactions via Payment Aggregators (“PA”), Payment Gateways (“PG”), and Unified Payments Interface (“UPI”), via third-party application providers (TPAPs), with PAs undergoing licensing by the Reserve Bank of India (“RBI”), under the March 17, 2020, RBI PA/PG Guidelines. Retail payments historically would flow via NEFT/ RTGS/ IMPS, etc. However, UPI has now become the preferred payment mode for online payments, constituting a significant volume of small ticket retail payments in India, which is mostly via PAs. The payment architecture, which was earlier ‘card network’ driven via entities licensed under the Payment and Settlement Systems Act, 2007 (as a ‘payment system operator’), is increasingly moving towards PA/PGs, including for digital asset exchanges, online shopping, check-out financing and digital lending (where significant changes have been implemented by the RBI recently, including via the September 2022 Digital Lending Guidelines).

Continue Reading FIG Paper (No. 18 – Series 1)- Technology/ Financial Services – Recent Law Enforcement Trends

Gaming Rules

Days after “online gaming” was formally brought under the purview of the Ministry of Electronics and Information Technology (“MEITY”) through the Government of India (Allocation of Business) Rules, 1961[1], MEITY has proposed amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“2021 Rules”), to create a novel co-regulatory framework to govern the operations of online gaming intermediaries (“Draft Gaming Rules”). The Ministry has invited public comments on the Draft Gaming Rules till January 17, 2023.[2]

Continue Reading Draft Rules for Online Gaming: The Beginning of an Enabling Framework?

Data Protection Bill 2022

The Ministry of Electronics and Information Technology (“MEITY”) has released a draft of the Digital Personal Data Protection Bill, 2022 (“The Bill”) for public consultations along with an explanatory note for each provision and the underlying principles that guide the drafting[1]. The public consultations are open till December 17, 2022[2].  This is Part II of our analysis on the Bill.  Click here to read Part I of this post

Continue Reading The Digital Personal Data Protection Bill, 2022 – Part II

Data Protection Bill

The Ministry of Electronics and Information Technology (“MEITY”) has released a draft of the Digital Personal Data Protection Bill, 2022 (“The Bill”) for public consultations along with an explanatory note for each provision and the underlying principles that guide the drafting[1]. The public consultations are open till December 17, 2022[2].

Continue Reading The Digital Personal Data Protection Bill, 2022 – Part I

FIG Paper

Pursuant to the Report of the Reserve Bank of India (“RBI”) Working Group on Digital Lending, issued on November 18, 2021, and the RBI Press Release on ‘Recommendations of the Working Group on Digital Lending – Implementation’, dated August 10, 2022 (“August Press Release”), the RBI released the Guidelines on Digital Lending on September 2, 2022 (“Guidelines”). Our Alert examines the key changes introduced and industry implications.

Continue Reading FIG Paper (No. 17 – Series 2) – New Digital Lending Guidelines – Industry Implications

The RBI’s Digital Lending Recommendations A Sign of the Road Ahead

The journey to a new general data protection law in India is more than a decade long and has seen several milestones ranging from the reports of Committees headed by Justice A.P. Shah[1], Justice B.N. Srikrishna[2], and a Joint Parliamentary Committee (“JPC”) to draft legislation in 2018[3], 2019 (“PDP Bill”)[4] and 2021 (“DPB”)[5].

While the recent withdrawal of the PDP Bill[6] is seen as a sign of a long and twisted road ahead, regulators in sectors such as banking, financial services and insurance have not had the luxury of taking the scenic route.

Continue Reading The RBI’s Digital Lending Recommendations: A Sign of the Road Ahead?

Policyholder Data Sharing in India

Introduction

With a vision to transform India into a digitally empowered society and knowledge economy, the Indian government[1] launched the Digital India initiative and mindful of its impact, it has been taking several steps to ensure greater accessibility as well as greater safety around internet based services. This, coupled with heightened internet based services and digital connectivity,[2] led the government to launch several digital services[3] and some are remarkably successful – these range from unified payments interface (UPIs) to DigiLocker[4]. According to India Brand Equity Foundation, the rising use of UPIs strongly indicate that more and more people in India are adopting a digital lifestyle[5] – UPI saw its highest ever number of transactions in April 2022 at 5.58 billon, amounting to INR 9.83 trillion. DigiLocker hit the mark of 101 million users on March 19, 2022, evidencing the adoption and success of this initiative[6].

Continue Reading Policyholder – Data Sharing in India – Time for Consent – Based Regime?