SAMACHAR - DECEMBER, 2025  
 
 

PCI, FCC Host Digital Payments and Fintech Panorama 2025

Two councils of the Internet and Mobile Association of India (IAMAI), The Payments Council of India (PCI) and the Fintech Convergence Council (FCC) jointly hosted the 5th Edition of the Digital Payments and Fintech Panorama from December 19-21, 2025, in Rishikesh. The two-day residential conference brought together the foremost minds in the fintech industry. Senior leaders from Reserve Bank of India’s (RBI) Department of Payment and Settlement Systems, and Fintech Department participated in it, engaging with more than 100 industry representatives on various issues over the two days.

Participants of the Digital Payments and Fintech Panorama 2025
 
 

IAMAI Digital Entertainment Committee Highlights Implementation Concerns Regarding MIB’s Draft Accessibility Guidelines

The Internet and Mobile Association of India (IAMAI) highlighted concerns about the retrospective application of the Draft Accessibility Guidelines issued by the Ministry of Information & Broadcasting (MIB) during a meeting on December 2, 2025, which was convened by the MIB to discuss issued related to the draft guidelines. Representatives of the IAMAI’s Digital Entertainment Committee, including several member platforms, pointed out that it would be difficult to implement the guidelines and they could place a disproportionate compliance burden on smaller OTT platforms, potentially affecting their commercial viability.

Following the meeting, the IAMAI on December 25, 2025, made an additional submission to the MIB. It outlined key concerns related to shared responsibility for compliance, prospective application of the guidelines, and implementation timelines. The submission also the highlighted the key differences between the present Draft Accessibility Guidelines issued by MIB and the Draft Accessibility Guidelines and IS 7802 issued by the Department of Empowerment of Persons with Disabilities (DePWD). The MIB acknowledged these concerns and indicated that the issue would be examined further.
 
 

Digital Entertainment Committee Submission Highlights Practical Challenges in Addressing Digital Piracy

The Digital Entertainment Committee of the IAMAI has submitted its comments on the public notice inviting inputs from stakeholders to address copyright infringement and strengthen anti-piracy strategies across the Media & Entertainment (M&E) sector. The submission noted the practical challenges in addressing digital piracy, particularly in the context of live content, where existing takedown timelines might not always align with the time-sensitive nature of broadcasts. The IAMAI suggested that exploring more responsive mechanisms for live content could help improve enforcement outcomes, while ensuring appropriate safeguards.  In addition, the submission emphasised the relevance of inter-ministerial coordination, as well as learning from international best practices. IAMAI also pointed out the value of continued capacity-building for law enforcement and judicial authorities to keep pace with evolving technological methods used in piracy.
 
 

Submission to MoEFCC Seeks Policy Clarification and Ease of Doing Business Measures with Respect to Compostable Plastics

The IAMAI made a submission to the Ministry of Environment, Forest & Climate Change (MoEFCC) regarding the use of compostable and biodegradable plastics. The submission noted that, although the Plastic Waste Management Rules allowed compostable and biodegradable plastics certified by the Central Pollution Control Board (CPCB), enforcement agencies often misidentified these products as banned single-use plastics during compliance inspections. Such misinterpretation has resulted in compliant businesses facing penalties, product seizures, financial losses, and reputational harm despite adhering to CPCB certification and regulatory requirements. The IAMAI requested a formal clarification to ensure uniform interpretation and enforcement of the Rules across jurisdictions and recommended the use of CPCB’s online database of certified compostable plastic manufacturers for real-time verification. Alternatively, IAMAI suggested, the Ministry could host a publicly accessible verification list to support enforcement authorities and industry stakeholders.
 
 

IAMAI Raises Concerns on Exclusion of Landing Page Viewership in the Proposed Amendments to Policy Guidelines for Television Rating

Responding to the Ministry of Information and Broadcasting’s (MIB) call for stakeholder inputs on the proposed amendments to the Policy Guidelines for Television Rating Agencies in India, 2014, the IAMAI submitted detailed comments on the guidelines. The submission expressed concerns with the proposed exclusion of landing page viewership, noting that viewing through the landing page represented legitimate content consumption and should be treated no differently from viewership through an allocated channel number. The submission highlighted that excluding such data would distort audience measurement and undermine the credibility of ratings. It further pointed out the lack of empirical evidence supporting the proposed change, its divergence from international practices, and potential adverse commercial impact on broadcasters. The IAMAI recommended that landing page viewership should continue to be included in television ratings and that any changes to measurement methodology be undertaken through evidence-based and consultative processes.
 
 

Meeting with MIB on Various Ongoing Notices and Amendments

The Ministry of Information and Broadcasting (MIB) convened a meeting on December 19, 2025, with industry stakeholders to discuss concerns relating to ongoing notices and proposed amendments. During the meeting, the MIB Additional Secretary acknowledged industry inputs on the role of Self-Regulatory Bodies, with IAMAI and IBDF highlighting their effectiveness in maintaining content standards and addressing user grievances, including through user awareness initiatives. On anti-piracy, stakeholders suggested industry representation in the proposed Anti-Piracy Task Force. The Ministry indicated that regular engagement with industry would continue.

Stakeholders also raised concerns regarding the Draft Synthetically Generated Information (SGI) Amendments, noting that the current definition could inadvertently cover routine good-faith editing practices across sectors. The Ministry flagged age-gating as an ongoing industry-wide challenge, particularly in app-based access, and noted that user awareness remained a key gap. Stakeholders suggested undertaking sensitisation campaigns on child accounts and parental controls.

Industry stakeholders also sought clarity on the Ministry’s affidavit in the Cure SMA (Samay Raina) matter pending before the Supreme Court, with a suggestion that self-regulatory bodies consider intervention and impleading themselves before the Supreme Court.
 
 

PCI Submission Seeks Clarification on Dynamic Authentication Factor Under AFA Requirements

The IAMAI’s Payment’s Council of India (PCI) made a submission to the National Payments Corporation of India (NPCI) seeking clarification on the dynamic form factor for authentication under the Reserve Bank of India’s Additional Factor of Authentication (AFA) dynamic requirements, in the context of biometric and face-based authentication for UPI transactions. The submission highlights the need for clarity on biometric authentication flows, applicability for users who have not enabled biometrics, and the delineation of roles and responsibilities of issuer banks and PSPs to ensure uniform and compliant implementation across the UPI ecosystem.
 
 

FCC Submission to TRAI on RBI Mandate on Formalising the Means of Communications

The IAMAI’s Fintech Convergence Council (FCC) made a submission to the Telecom Regulatory Authority of India (TRAI) on December 9, 2025, regarding the RBI Mandate on ‘Formalising the Means of Communications’. The submission sought clarity on the use of the 1600 series for repayment and recovery-related calls.
 
 

FCC Obtains Clarity Regarding Applicability of SEBI’s Circular on Standardised and Validated UPI Handles for REs, to MFDs

The FCC sought and obtained clarity on the applicability of the circular issued by the Securities and Exchange Board of India (SEBI), titled ‘Adoption of Standardised, Validated and Exclusive UPI IDs for Payment Collection by SEBI-Registered Intermediaries (REs) from Investors’, specifically for Mutual Fund Distributors (MFDs) in the industry. After multiple rounds of discussions with the SEBI, the Association of Mutual Funds of India (AMFI), and the National Payments Corporation of India (NPCI), the FCC received the clarification that adoption of the circular by Mutual Fund Distributors (MFDs) and Asset Management Companies (AMCs) was optional and such entities were free to use alternative options that they believed were better suited to their business needs.
 
 

PCI Letter to NPCI on Implementation of UPI–PPI Interchange

The PCI has written a letter to the NPCI requesting an update on the implementation of the UPI-PPI interchange. The letter reiterated the importance of timely implementation due to the excess costs the ecosystem was facing.
 
 

PCI Hosts Payments Banks CEOs’ Quarterly Meeting

The PCI convened the quarterly Payments Banks Committee meeting with CEOs to deliberate on key regulatory and operational issues impacting payments banks. Discussions included the need for structured engagement with regulators, prioritization of representations on the payments bank business model and operational framework, UPI switch charges, I4C-related fraud issues, and compliance implications arising from recent RBI guidance. The Committee agreed on adopting a phased, data-driven approach for coordinated engagement with relevant authorities, including the RBI and the NPCI, to seek clarity and policy support on payments bank specific matters.
 
 

FCC Hosts RegTech Quarterly Committee Meeting

The FCC organized the quarterly meeting of its RegTech Committee on December 12, 2025. Discussions focused on regulatory clarity around the Sub-AUA/KUA mandate under DigiLocker, implementation of the DPDP Rules, and standardisation of STR filing and data access responsibilities. More than 60 industry leaders attended the meeting.
 
 

WealthTech Committee Quarterly Committee Meeting

The FCC hosted the quarterly meeting of its WealthTech Committee on December 11, 2025. Members deliberated on pressing regulatory challenges relevant to portfolio managers, accredited investors, mutual fund distributors, and the overall wealthtech ecosystem. Members guided the FCC on proposed action points, while also discussing long-term opportunities such as the use of AI in wealthtech and advancing financial inclusion in the securities market. Over 50 members participated in the meeting.
 
 

Webinar on DPDP Act and Marketing Implications

The Digital Advertising Council of the IAMAI hosted a webinar titled “Why Marketers Need to Rethink Data in a Post-DPDP World” to help marketers understand the implications of DPDP Act regarding data usage and compliance obligations. Led by Harini Sudersan, Partner at Poovayya & Co., the session covered key aspects of the Act such as personal data, cookies, consent, and next steps for compliance. Over 70 industry professionals attended the webinar.
 
 

Knowledge Session on Compliance with DPDP Rules for the Digital Lending Industry

The FCC organised a knowledge session on December 16, 2025, on compliance with the DPDP Rules for the Digital Lending Industry. The session was led by Mr. Rohan Bagai, Senior Partner, AZB & Partners, and Mr. Nipun Sawhney, Partner, AZB & Partners. They discussed practical compliance considerations for industry participants. The session was attended by more than 120 participants.
 
 

FCC Knowledge Session on Online Bond Platforms: Market Liquidity and Investor Education

The FCC hosted a knowledge session on December 16, 2025, on Online Bond Platforms. Mr. Suresh Darak, Founder, Bondbazaar, and Mr. Nikhil Aggarwal, Founder, Grip Invest, addressed the session with Ms. Smita Jha, Partner, Khaitan & Co., as the moderator. The discussed the emerging opportunities and challenges for the bond market in India. The session saw participation from 30 players from the bond market.
 
 

FCC Knowledge Session on Do’s and Don’ts for OBPPs

The FCC organised a knowledge session on December 18, 2025, on ‘Do’s and Don’ts for OBPPs: An Ex-Regulator’s View on Marketing, Distribution, and Product Placement’. Mr. Pramod Rao, Former Executive Director, SEBI, addressed the session. He provided regulatory insights on marketing, distribution, and product placement for OBPPs. The session was attended by over 60 participants.