• Kaushik Prasad

India's growth in the Fintech industry is rapid and has opportunities and challenges. The business consequences of India's fragmented and convoluted regulatory structure on Fintech companies are discussed in this paper. The paper looks at key challenges such as data security and protection, loopholes in the consumer protection laws of the current structure, and regulatory complexity owing to multiple regulatory institutions (RBI, SEBI, IRDAI) sharing jurisdictions. Ambiguity and potential conflict between regulations can undermine innovation, increase the cost of compliance, and erode confidence. This paper emphasizes the necessity for enhanced coordination and transparency between regulations to enhance the business climate for Fintech development, but not at the expense of consumer protection and instability in the markets.

: Digital Payments, Regulatory Challenges, Fintech Start-ups, Payment and Settlement Systems Act, 2007, Digital Personal Data Protection Act, 2023, Consumer Protection Act, Data Privacy, Cybersecurity, Regulatory Fragmentation, Compliance Costs, Market Access, Innovation, Consumer Protection, Regulatory Reforms, Harmonized Framework, Regulatory Sandboxes, Financial Inclusion, Economic Growth.

"Legal Challenges and Operational Impacts on Fintech in India's Digital Payments Sector", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 3, page no.b41-b52, March-2025, Available :http://www.jetir.org/papers/JETIR2503106.pdf

"Legal Challenges and Operational Impacts on Fintech in India's Digital Payments Sector", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 3, page no. ppb41-b52, March-2025, Available at : http://www.jetir.org/papers/JETIR2503106.pdf