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India’s Market Regulator Aims to Tighten Rules for Fintech Firms

  • Regulator says business model cannot be a black box, unaudited
  • SEBI to narrow the regulatory gap in governing start-ups

India’s capital market regulator has increased vigil over new age fintech companies amid exponential growth in that sector and pledged to tighten scrutiny of their business models after some large initial public offerings left retail investors with significant losses.

“In past we have been little late to the party but now it is our intention to narrow that gap as much as possible.” Madhabi Puri Buch, chairperson of Securities and Exchange Board of India, said at an event in Mumbai on Wednesday.