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Finance Law and Banking Law

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Finance law and banking law thought leadership, articles, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics such as capital adequacy, BASEL, acquisition finance, debt capital markets, fund finance, islamic finance, securitization and structured finance.

RBI Notifies Master Directions On Authorisation To Operate A Payment System

1. Applicability – Under the Payment and Settlement Systems Act, 2007 (“PSS Act”), no person can operate a payment system without an authorisation issued by RBI in accordance with the PSS Act. PS directions are applicable only on entities applying for authorisation or authorised to operate a payment system under the PSS Act. Such authorisation is based on an ‘on-tap basis’

Sagus Legal

SEBI Issues Updated Master Circular For AIFs

SEBI, through notification dated 03.06.2026, issued the updated Master Circular for Alternative Investment Funds (“AIF Master Circular”), consolidating the circulars released by SEBI with respect to Alternate Investment Funds (“AIFs”) after the previous master circular on AIFs was issued on 07.05.2024 (“Existing Master Circular”).

Sagus Legal

RBI's Revised Framework For Agency Business And Third-Party Product Distribution By NBFC's

The package comprises two parallel tracks: (a) amendments to the master directions in relation to the undertaking of financial services applicable to each regulated entity respectively; and (b) amendments to the master directions governing responsible business conduct (RBC) applicable to each regulated entity respectively, which introduce comprehensive requirements on advertising, marketing, sale, and conduct, including an express prohibition on compulsory bundling, a codified mis-selling framework with mandatory refunds, and regulation of dark patterns.

KC

Khaitan & Co LLP

インドにおけるオルタナティブ投資ファンド(AIF）市場の拡大

India's alternative investment fund (AIF) market has evolved dramatically, with sophisticated investors now seeking direct access to specific high-conviction deals rather than committing to entire fund portfolios.

A

Acuity Law

The Legal Architecture Of A Successful IPO: Lawyers, Merchant Bankers, Auditors And Promoters Working Together

AA

Agama Law Associates

MoF Notifies Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026

Sagus Legal

SEBI Master Circular For Alternative Investment Funds (AIFs): Consolidating The Regulatory Framework

A

Acuity Law

RBI Opens The Exit Door For Low-Risk NBFCs, But The Fine Print Demands Attention

AP

AZB & Partners

RBI Clarification On FCNR(B) Rebooking And Lending Against Deposits: Regulatory Flexibility In Foreign Currency Deposit Structures

LP

Legitpro Law

RBI’s Master Direction On Credit Derivatives, 2026: Strengthening India’s Regulatory Framework For Credit Risk Transfer

LP

Legitpro Law

Equity Capital Markets

KC

Khaitan & Co LLP

GIFT City & HFT Regulatory Disputes

AA

Agama Law Associates

新規株式公開（IPO）の準備：プロモーターのための体系的アプローチ

A

Acuity Law

Banking & Finance Updates - June 2026

KS

King, Stubb & Kasiva

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Webinars

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Recorded on 5 Feb 2026 | 9:00 AM

Decoding India’s Union Tax Budget 2026 – Global Implications for Businesses and Investors

AC

Aurtus Consulting LLP

Recorded on 20 Jan 2026 | 3:00 PM

2026 Canadian In-House Counsel Report: Unparalleled Insights into Canada's In-House Profession from CBA In-House Lawyers

TC

CBA In-House Lawyers

Recorded on 8 Oct 2025 | 7:30 AM

Decoding Global M&A: Legal Perspectives Across Borders

White And Brief Advocates And Solicitors

Recorded on 9 Jul 2025 | 2:00 PM

Digital Assets – Innovation vs Compliance: Emerging Offshore Jurisdictional Trends – How Legal Advisers' Roles Will Change

W

Walkers

Related Country Guides

Alternative Investment Funds

Secured Lending

Project Finance

Charges, Mortgages, Indemnities

Mandatory Compliance With Rule 9 Of SARFAESI Rules: Supreme Court Quashes Sixteen-Year-Old Auction Sale For Statutory Non-Compliance

The enforcement of security interests under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act)...

IL

IndiaLaw LLP

Determination Of Financial Versus Operational Debt In Invoice Financing Transactions Under The Insolvency And Bankruptcy Code, 2016

The intersection of supply chain financing and insolvency law has increasingly become a fertile ground for jurisprudential debate, particularly concerning the classification of creditors and the validity...

India Insolvency

IL

IndiaLaw LLP

Mortgage Validity Under Scrutiny: DRAT Chennai Dismisses ICICI Bank’s SARFAESI Appeal Over Defective Title Deed Mortgage

The Debt Recovery Appellate Tribunal at Chennai, in its judgment dated 27 April 2026, delivered a significant ruling on the evidentiary burden required to establish a valid mortgage by deposit of title deeds...

IL

IndiaLaw LLP

National Company Law Appellate Tribunal Clarifies Financial Creditor Status In Third-party Mortgage Transactions Under The Insolvency And Bankruptcy Code, 2016

India Insolvency

J

JSA

When A Loan Takeover Triggers Statutory Arbitration: A Critical Analysis Of The Bombay High Court’s Decision In Aditya Birla Housing Finance Ltd. v. Axis Bank Ltd.

IL

IndiaLaw LLP

Restructured Debt And The Survival Of Registered Charges: NCLAT Affirms Secured Creditor Status In The Absence Of Post-Restructuring ROC Modification

India Insolvency

IL

IndiaLaw LLP

Resolution Professional’s Statutory Mandate Trumps Arbitral Award Execution: The NCLT Chandigarh Perspective On Asset Control During CIRP

India Litigation

IL

IndiaLaw LLP

Acknowledgment Of Debt And Limitation In SARFAESI Proceedings: DRAT Chennai Upholds Secured Creditor’s Enforcement Action

IL

IndiaLaw LLP

HDFC Bank Ltd. v. Rajsri Associates (HUF): DRAT Chennai On Attachment Before Judgment And Post-Order Conduct

India Insolvency

IL

IndiaLaw LLP

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Debt Capital Markets

MoF Notifies Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026

Ministry of Finance (“MoF”) through notification no. S.O. 3030(E) dated 12.06.2026, notified the Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2026 (“NDI Amendment Rules”) to amend the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (“NDI Rules”).

Sagus Legal

Recent Developments In India’s Corporate & Commercial Laws - June 2026

Welcome to the latest edition of Fox & Mandal's newsletter highlighting recent developments in India's corporate & commercial laws. In this edition, we examine key aspects of various legal and regulatory changes in the Corporate, Capital Markets, Insolvency, Competition and Real Estate sectors and their impact on the business ecosystem in the country.

India Commercial

Fox & Mandal

Mandatory Compliance With Rule 9 Of SARFAESI Rules: Supreme Court Quashes Sixteen-Year-Old Auction Sale For Statutory Non-Compliance

The enforcement of security interests under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act)...

IL

IndiaLaw LLP

How Section 45QA Of The Reserve Bank Of India Act, 1934, Can Bridge The NBFC Recovery Gap

CP

Corporate Professionals

Supreme Court Clarifies Interplay Between IBC Moratorium And Section 138 NI Act Proceedings

India Insolvency

KC

Khaitan & Co LLP

Procedural Non-Compliance And Limitation Defeat Bank’s SARFAESI Action: An Analysis Of The Gopu Bala Reddy V. Union Bank Of India Ruling

IL

IndiaLaw LLP

Securities And Exchange Board Of India Widens The Permissible End-use Of Fresh Borrowings By Highly Leveraged Infrastructure Investment Trusts

J

JSA

Mortgage Validity Under Scrutiny: DRAT Chennai Dismisses ICICI Bank’s SARFAESI Appeal Over Defective Title Deed Mortgage

IL

IndiaLaw LLP

Survival Of Personal Guarantors’ Liability Post-Corporate Resolution Plan: An Analysis Of The NCLAT Ruling In Amit Bhatnagar v. UCO Bank

India Insolvency

IL

IndiaLaw LLP

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Leasing

Aircraft Leasing In Gift City: India’s Bid To Become The Next Global Aviation Finance Hub

Aircraft leasing has emerged as the dominant mode of fleet acquisition in the global aviation industry, enabling airlines to access aircraft without committing significant capital to outright ownership.

MC

MAHESHWARI & CO. Advocates & Legal Consultants

GIFT City Newsletter | May 2026

India's GIFT IFSC continues its transformation into a global financial hub through strategic regulatory reforms, institutional expansion, and international partnerships. From high-frequency trading approvals to aircraft leasing frameworks and treasury centre establishments, the jurisdiction is rapidly evolving its capabilities across banking, capital markets, insurance, and fintech sectors.

DL

Dentons Link Legal

GIFT City’s Next Phase: How India’s IFSC Is Becoming A Global Financial Hub

For years, India-linked international financing transactions were routinely structured through offshore jurisdictions such as Singapore, Dubai, Mauritius or London. Whether it involved fund management, aircraft leasing, offshore debt, private credit or cross-border investment platforms, global capital often flowed into India through foreign financial centres rather than through India itself.

KS

King, Stubb & Kasiva

Aircraft Leasing Business In GIFT City: Implementation Of The TCSP And SPV Framework

India Commercial

TC

Tuli & Co

Inclusion Of Lease Of Oilfield Equipment As A Financial Product In GIFT-City

AP

AZB & Partners

Understanding The Proposed TCSP And SPV Framework For Aircraft Leasing: Next Step In GIFT City's Aviation Ecosystem

TC

Tuli & Co

Should You Set Up An Entity In GIFT City

KS

King, Stubb & Kasiva

Leasing Insights: Navigating IBC Classifications For Lessors | IndiaLaw LLP (Video)

IL

IndiaLaw LLP

International Financial Services Centres Authority (Techfin And Ancillary Services) Regulations 2025

AC

Aurtus Consulting LLP

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Fund Management/ REITs

SEBI Issues Updated Master Circular For AIFs

SEBI, through notification dated 03.06.2026, issued the updated Master Circular for Alternative Investment Funds (“AIF Master Circular”), consolidating the circulars released by SEBI with respect to Alternate Investment Funds (“AIFs”) after the previous master circular on AIFs was issued on 07.05.2024 (“Existing Master Circular”).

Sagus Legal

インドにおけるオルタナティブ投資ファンド(AIF）市場の拡大

India's alternative investment fund (AIF) market has evolved dramatically, with sophisticated investors now seeking direct access to specific high-conviction deals rather than committing to entire fund portfolios.

A

Acuity Law

SEBI Master Circular For Alternative Investment Funds (AIFs): Consolidating The Regulatory Framework

SEBI has consolidated its regulatory framework for Alternative Investment Funds through a comprehensive Master Circular that brings together 31 previously dispersed circulars and operational guidelines into a single authoritative document. This consolidation addresses years of fragmented regulatory guidance, creating a unified compliance reference for fund managers, investment managers, trustees, and other market participants.

A

Acuity Law

Equity Capital Markets

KC

Khaitan & Co LLP

Corporate Social Responsibility Funds Vs Foreign Contribution: Legal Distinction And Compliance Implications In India

India Commercial

LegaLogic

Banking & Finance Updates - June 2026

KS

King, Stubb & Kasiva

SEBI Introduces 'Inoperative Fund' Framework To Facilitate Orderly Winding Up Of AIFS And VCFs

India Commercial

KC

Khaitan & Co LLP

Legalaxy - Monthly Newsletter Series – Vol XXXVII – June, 2026

VA

Vaish Associates Advocates

GIFT City Newsletter | May 2026

DL

Dentons Link Legal

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Latest Videos

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Rise Of Indian Private Credit (Video)

J

JSA

RBI Monetary Penalty Report 2024 - Most Repetitive Violations (Video)

AP

AK & Partners

JSA Partner Vikram Raghani Featured On NDTV Profit To Discuss M&A Trends In Indian Banking Sector (Video)

J

JSA

The Invisible Shield: How RBI's Nodal Account Protects Your Money In Every Online Transaction (Video)

IL

IndiaLaw LLP

26 Ind AS 2025 Amendments: Supplier Finance, Liability Shifts & Global Tax Rules (Podcast)

AP

AK & Partners

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