Fintech 2025

INDIA Trends and Developments Contributed by: Shilpa Mankar Ahluwalia, Himanshu Malhotra and Lidia K. Kharmih, Shardul Amarchand Mangaldas & Co

The National Blockchain Framework (NBF) was established by the Government of India in Sep - tember 2024, to encourage research and the development of applications while facilitating modern, transparent, secure, and reliable digital service delivery to the populace. Blockchain- as-a-Service is provided via the NBF technol - ogy stack, which is designed with distributed infrastructure, core framework functions, smart contracts and API gateways, which are secure and interoperable. The Ministry of Electronics and Information Tech - nology (MeitY) stated that the NBF will be crucial in facilitating security, trust and transparency for a range of citizen-centric applications, as part of the Government of India’s commitment to deliv - ering trusted digital services. Stakeholders have also been urged to use blockchain technology to establish India as a worldwide leader and spread the created solutions for use throughout the world, leveraging it to drive economic growth, social development and digital empowerment. Further, the Indian government introduced the Vishvasya-Blockchain Technology Stack and several blockchain-focused facilities, such as NBFLite, Praamaanik and the National Block - chain Portal. With its geographically dispersed infrastructure, the Vishvasya-Blockchain Technology Stack is intended to provide Blockchain-as-a-Service for a range of permissioned blockchain-based applications. NBFLite – Lightweight Blockchain Platform is a blockchain sandbox platform, which has been developed under the aegis of MeitY. It was cre - ated specifically for academic institutions and entrepreneurs to carry out research and capacity building as well as rapid application prototyping.

Praamaanik is an inventive blockchain-enabled method for confirming the origin of mobile appli - cations.

Data Protection and Privacy Draft data protection rules

At the beginning of 2025, the Indian government made the draft Digital Personal Data Protection Rules, 2025 (Draft Rules) available for pub - lic comment. The Draft Rules are intended to operationalise the provisions under the Digital Personal Data Protection Act, 2023 (DPDP Act), which received presidential assent in August 2023. The Draft Rules are an important step in the Indian government’s efforts to protect citizens’ rights and their personal data in an increasingly digital economy. The Draft Rules prioritise trans - parency and simplicity, in order to empower the public and build confidence in India’s flourishing digital ecosystem. One key tenet of the Draft Rules is the require - ment for “data fiduciaries” to give “data princi- pals” comprehensive and transparent notices. In addition to providing procedures for withdrawing consent and resolving grievances, these notices must describe the kinds of personal data that are collected, the reasons for processing and any related services. This strengthens the idea of informed consent by guaranteeing that people can make knowledgeable decisions regarding their data. “Consent managers” will be responsible for ena - bling the smooth administration of user consent via a transparent and secure platform, keeping records and protecting this data with strong security measures. These provisions signifi - cantly simplified consent management and aim to increase public trust in digital platforms.

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