SAMACHAR - JUNE, 2025  
 
 

SEPC and IAMAI Sign MoU to Advance India’s Digital Services Exports

The Services Export Promotion Council (SEPC), set up by the Ministry of Commerce and Industry, Government of India, and the Internet and Mobile Association of India (IAMAI) signed a Memorandum of Understanding (MoU) in June 2025 to advance India’s digital services exports and strengthen the global presence of Indian digital businesses.

The partnership will promote international market access, address trade-related policy challenges, and build export readiness for India’s emerging digital sectors. The collaboration aims to align institutional efforts in shaping India’s leadership in global digital trade. The MoU envisions structured collaboration across multiple fronts including the establishment of joint working groups with relevant government ministries and regulators to address trade-related bottlenecks faced by digital services exporters.


Dr. Abhay Sinha, Director General, SEPC (Left) and Dr. Subho Ray, President, IAMAI, signing an MoU between the SEPC and the IAMAI
 
 
Submission to DoT on Use of Low Power and Very Low Power Wireless Access System
The Internet and Mobile Association of India (IAMAI) made a submission to the Department of Telecommunications (DoT) on its draft ‘Use of Low Power and Very Low Power Wireless Access System including Radio Local Area Network in Lower 6 GHz band (Exemption from Licensing Requirement) Rules, 2025. The IAMAI emphasised the need for a higher Power Spectral Density (PSD) limit for Low Power Indoor and Very Low Power devices in the 6 GHz band. It highlighted that higher PSD limits could allow for more signal strength per unit bandwidth as well as unlock a range of other benefits without compromising on interference protection when appropriate safeguards are maintained.

The IAMAI also recommended a higher equivalent of isotropic radiated power (EIRP) limits for outdoor use of the 6 GHz band. The submission suggested that higher EIRP limits would not only enhance Wi-Fi coverage and capacity but also unlock significant socio-economic benefits by bridging access gaps.
 
 
Submission to Karnataka Government Recommending a Sunset Provision for Aggregators
The IAMAI made a submission to the Government of Karnataka pertaining to the Karnataka Platform-Based Gig Workers (Social Security and Welfare) Ordinance, 2025. The submission recommended the inclusion of a sunset provision to ensure that there was no duplication of obligations on aggregators or platforms under the Ordinance upon the implementation of the Code on Social Security, 2020.

The IAMAI also raised concerns regarding the requirement for aggregators to disclose details about automated decision-making systems used by them where such systems might have an impact on the working conditions of gig workers. The submission underlined that such systems were often proprietary, and compulsory disclosure could risk exposing sensitive intellectual property, undermine competitive advantage, and potentially lead to security risks. The IAMAI pointed out that any individual grievances of gig workers could be addressed via a robust grievance redressal system instead of mandating disclosure of any proprietary system.
 
 
IAMAI’s Digital Entertainment Committee Briefs MIB Secretary on Concerns About COPTA Rules
Members of IAMAI’s Digital Entertainment Committee (DEC), met with the Secretary, Ministry of Information & Broadcasting (MIB), Shri Sanjay Jaju, on June 20, 2025, to inform him that the Ministry of Health & Family Welfare’s (MoHFW) National Tobacco Control Cell had convened a meeting on June 9, 2025 to discuss stakeholder representations on the Draft COTPA Amendment Rules, 2024, but key stakeholder associations and OCCPs were not invited to the meeting by the MoHFW. During the meeting with Shri Jaju, the DEC members highlighted the concerns about the COTPA Amendment Rules, 2023 and the Draft 2024 Rules. They requested him to take up the matter with the MoHFW Secretary, to ensure that all rules were based on comprehensive consultation and grounded in practical realities. Shri Jaju assured DEC members that he would discuss the issues with the MoHFW Secretary.
 
 
PCI-FCC Joint Representation to RBI Suggests How Fintechs May Participate More Effectively in KYC Operations 
The Payments Council of India (PCI) and the Fintech Convergence Council submitted a joint representation on the Reserve Bank of India’s (RBI) Draft Circular (dated May 23, 2025) regarding revised instructions for periodic KYC updation. The councils welcomed the regulatory initiative aimed at simplifying and digitizing KYC processes and provided some recommendations on how fintechs and other financial entities might participate more effectively in KYC operations, ensuring operational efficiency and deeper financial inclusion.

The submission recommended expanding ‘Business Correspondents’ to ‘Authorised Representatives’ for KYC support, covering onboarding and periodic updation for all Regulated Entities (REs), including fintechs. It also sought clarification on physical KYC intimation, suggesting digital alternatives. The RBI released final guidelines following the representation.
 
 
PCI Participation in Global Policy Working Groups
The IAMAI’s Payments Council of India participated in two working groups in June 2025: the Legal Regulatory and Supervisory (LRS) Taskforce under the Financial Stability Board (FSB) and PIE taskforce under CPMI BIS. The PCI was represented by Mr. Nath Parameshwaran. Both were held in Basil, Switzerland, on June 30, 2025.

The workshop, organised by the LRS Taskforce convened public and private sector stakeholders to examine current trends, risks, and initiatives related to fraud in cross-border payments. The PIE Taskforce was convened to review its renewed mandate and discuss future priorities for enhancing cross-border payment interoperability. Members also explored potential contributions to the G20 South Africa Presidency and aligned on next steps for collaborative work.
 
 
PCI Meeting with the FED of Reserve Bank of India
On behalf of the PCI’s International Remittances and Trade Committee Mr Nath Parameshwaran and Mr Partha Sinha took part in a meeting with Smt. Latha Radhakrishnan, General Manager, Foreign Exchange Department (FED) of the Reserve Bank of India (RBI). The discussion was focussed on the remittances space of India and how it could be further supported for growth and development.
 
 
PCI Feedback to RBI on Device Token Management Enhanced Security Measures
The PCI’s Card Networks Committee conducted a discussion around RBI’s recommended measures to strengthen security in device tokenization, including reducing OTP validity, limiting device registration, and enhancing transaction and alert controls. The Committee is working with IBA to address the rising fraud risks involving device tokens, especially through social engineering tactics like multiple relay attacks. The consolidated feedback on behalf of the members was submitted to the RBI on June 23, 2025.
 
 
FCC Representation to SEBI on Addressing Signature Mismatch in Non-Commercial Transactions (NCTs) for Mutual Funds
FCC members made a representation to the Securities and Exchange Board of India (SEBI) on June 6, 2025, to address the procedural complications arising from Signature Mismatch in Non-Commercial Transactions (NCTs) for mutual funds. They recommended an Aadhar-based e-signing in case of signature mismatches being detected in non-financial transactions.

FCC members, along with industry stakeholders, also met with SEBI officials on June 24, 2025, to seek feedback and inputs on the same. A follow-up document with detailed recommendations for integration of these Non-Financial Transactions in MF Central was shared on June 30, 2025.
 
 
FCC Seeks Clarifications Regarding NeGD Circular on AUA Application Under UIDAI
In June 2025 the National e-Governance Division (NeGD) issued a circular regarding its Authentication User Agency (AUA) application, under the UIDAI, which mandated its Partners/Requesting Entities to be onboarded as sub-AUAs under NeGD. In view of the circular the FCC sought various clarifications, particularly around the applicability, scope, and licensing of this revised framework.
 
 
FCC Submission on Enhanced Due Diligence Measures under RBI’s KYC Directions
The FCC made a submission to the Reserve Bank of India (RBI) in June 2025, raising concerns about challenges faced by digital lenders in implementing Enhanced Due Diligence (EDD) measures under existing KYC rules. The submission suggested certain relief measures to make compliance more practical while maintaining regulatory standards.
 
 
FCC-UIDAI Joint Knowledge Session on Aadhaar App: Next-Gen Digital Identity for Bharat
The FCC conducted a knowledge session on “Aadhaar App: Next-Gen Digital Identity for Bharat” in collaboration with the UIDAI to discuss the new Aadhar app, which is soon to be launched. The session highlighted the features of the app, which was followed by a question-and-answer session regarding the implementation of the initiative.
 
 
FCC Recommendations on SEBI Draft Circular on FAQs for RAs
The FCC organised a virtual meeting in June 2025 with the Investment Committee members to discuss SEBI’s draft circular containing FAQs for Research Analysts (RAs). In consultation with the industry, the FCC shared feedback and recommendations with SEBI on June 30, 2025, pertaining to the regulatory provisions and operational feasibility.
 
 
FCC Working Group Meeting on Regulation of Digital Gold in India
The FCC organised a working group virtual meeting in June 2025 on regulations of the Digital Gold in India. The call explored possibilities of regulatory recognition for digital gold. With custodians and distributors of the digital gold ecosystem in attendance, the call concluded with preparation of a working note on the subject for a submission to the Reserve Bank of India.
 
 
Key International Audience Apprised of GFF 2025 Through Roadshow Series


Over the past few months Global Fintech Fest (GFF2025) Dialogues were held at key international fintech and financial policy hubs across the world and in India. These curtain raiser roadshows gave the international audience a glimpse of the upcoming Global Fintech Fest (GFF) 2025, to be organised at a significantly larger scale than previous years, from October 7 -9, at Jio World Centre, Mumbai. The dialogues were organised at San Francisco, New York, Singapore, Tokyo, Bangkok, Bengaluru, Delhi, and Mumbai. Each edition served as a platform for focused, high-level conversations among regulators, central bankers, founders, investors, and ecosystem leaders committed to shaping the future of finance.

Main contributors to the dialogues included, senior officials from the Bank of Thailand, Bank of Japan, Monetary Authority of Singapore, and the Financial Services Agency (Japan). Global leaders from MUFG Innovation Partners, Visa, QED Investors, Google Pay, Paytm, PhonePe, and OneCard took part in these. On the forefront of these dialogues was India's diplomatic leadership, including Ambassadors and Consul Generals in New York, San Francisco, Singapore, Bangkok, and Tokyo.

Ecosystem leaders including Mr. Dilip Asbe, MD & CEO of NPCI; Ms. Sohini Rajola, Executive Director – Growth, NPCI, and Mr. G. Padmanabhan, Member of the GFF Advisory Board and former Executive Director of the Reserve Bank of India shared their invaluable insights on issues such as AI-powered compliance, cross-border payments, open banking, digital public infrastructure, and fintech–regulator collaboration. The Dialogues also created space for startups to share what they need from GFF2025 to make it truly founder-first and future-focused.