Category: Volume 6 and Issue 9 of 2026

THE EVOLUTION OF FINTECH REGULATION IN INDIA: FROM PAYMENT SYSTEMS TO DIGITAL FINANCIAL GOVERNANCE

AUTHOR – PRAVIN RAJ, LLM – CYBER SPACE LAW AND JUSTICE DEPARTMENT, SCHOOL OF EXCELLENCE IN LAW, TAMILNADU AMBEDKAR LAW UNIVERSITY CHENNAI PERUNGUDI CAMPUS

BEST CITATION – PRAVIN RAJ, THE EVOLUTION OF FINTECH REGULATION IN INDIA: FROM PAYMENT SYSTEMS TO DIGITAL FINANCIAL GOVERNANCE, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 654-667, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

Financial Technology (FinTech) has transformed the structure and delivery of financial services in India by integrating digital innovation with banking, payments, lending, insurance, and investment systems. The rapid expansion of digital payment platforms, Unified Payments Interface (UPI), prepaid payment instruments, neobanks, peer-to-peer lending platforms, digital lending applications, and algorithm-driven financial services has significantly altered the traditional financial ecosystem. This technological transition has simultaneously created new opportunities for financial inclusion, economic growth, and digital governance while also raising serious concerns relating to consumer protection, cybersecurity, data privacy, money laundering, regulatory arbitrage, and systemic financial risks.

This paper examines the evolution of FinTech regulation in India from a payment-system-centric model to a broader framework of digital financial governance. It analyses the regulatory role of institutions such as the Reserve Bank of India, Securities and Exchange Board of India, and Insurance Regulatory and Development Authority of India in shaping India’s FinTech ecosystem. The study traces the legislative and policy developments beginning with the Payment and Settlement Systems Act, 2007 and further evaluates subsequent regulatory frameworks governing payment aggregators, prepaid payment instruments, digital lending, peer-to-peer platforms, payment banks, and cybersecurity obligations within financial institutions. The paper also discusses the growing relevance of the Digital Personal Data Protection Act, 2023 and the Information Technology regulatory framework in addressing data governance and digital consent in financial transactions.

The research adopts a doctrinal and analytical methodology by examining statutes, RBI master directions, circulars, committee reports, judicial developments, and policy documents relating to FinTech regulation in India. It further evaluates how the Indian regulatory model attempts to balance technological innovation with financial stability and consumer welfare. Special attention is given to emerging regulatory concerns involving artificial intelligence-based credit scoring, embedded finance, digital frauds, cross-border financial data flows, and the increasing role of regulatory sandboxes in promoting responsible innovation.

The paper argues that although India has emerged as one of the world’s leading FinTech markets through initiatives such as Digital India and UPI-led payment infrastructure, the regulatory ecosystem remains fragmented due to overlapping jurisdictional powers and rapidly evolving technological risks. It concludes that India requires a more harmonized and adaptive regulatory architecture capable of integrating financial regulation, cybersecurity governance, and data protection standards into a unified digital financial governance framework. The study proposes stronger inter-regulatory coordination, enhanced consumer-centric safeguards, AI accountability mechanisms, and comprehensive digital risk management policies to ensure sustainable and secure FinTech growth in India.

CHILDREN IN THE RANKS: THE RECRUITMENT AND USE OF CHILD SOLDIERS BY NON-STATE ARMED GROUPS AND THE LIMITS OF INTERNATIONAL ACCOUNTABILITY

AUTHOR – SRISHTI GUPTA, STUDENT AT AMITY LAW SCHOOL, AMITY UNIVERSITY MADHYA PRADESH, GWALIOR

BEST CITATION – SRISHTI GUPTA, CHILDREN IN THE RANKS: THE RECRUITMENT AND USE OF CHILD SOLDIERS BY NON-STATE ARMED GROUPS AND THE LIMITS OF INTERNATIONAL ACCOUNTABILITY, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 647-653, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/IJLRV6I970

Abstract

Few practices of contemporary armed conflict trouble the conscience as much as the use of children to fight the wars of adults, and few are as closely associated with the conduct of non-State armed groups. This paper examines how international law has responded to the recruitment and use of child soldiers by such groups. It traces the prohibition from its treaty origins through its recognition as a war crime, and it argues that the decisive moment came not with the drafting of any treaty but with the first judgment of the International Criminal Court, which made the recruitment of children the centre of a completed prosecution. The paper then asks why, despite a prohibition that is now about as clear as international law ever becomes, children continue to be recruited; and it suggests that the answer lies less in any gap in the substantive law than in the familiar weakness of enforcement against actors who fight beyond the reach of the courts. It concludes that the prosecution of commanders, valuable as it is, must be combined with prevention, direct engagement of armed groups, and the patient work of reintegration if the law is to make a difference to the children it exists to protect.

Keywords: child soldiers; non-State armed groups; international humanitarian law; war crimes; Lubanga; reintegration.

INTERNATIONAL ANTI-CORRUPTION REGIMES: A STUDY OF UNITED NATIONS CONVENTION AGAINST CORRUPTION

AUTHOR – SHUBHAM KUMAR* & DR. DEO NARAYAN SINGH**

* LL.M., (2025 – 2026), CENTRAL UNIVERSITY OF SOUTH BIHAR, GAYA JI

** ASSISTANT PROFESSOR, SCHOOL OF LAW AND GOVERNANCE, CENTRAL UNIVERSITY OF SOUTH BIHAR, GAYA JI.

BEST CITATION – SHUBHAM KUMAR & DR. DEO NARAYAN SINGH, INTERNATIONAL ANTI-CORRUPTION REGIMES: A STUDY OF UNITED NATIONS CONVENTION AGAINST CORRUPTION, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 635-646, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/IJLRV6I969

Abstract

Corruption is a world wide problem that erodes governance, economic progress and human rights. This paper has a critical look at the United Nations Convention against Corruption as a universal tool in fighting corruption. It examines its main pillars, which are the preventive measures, criminalization, international cooperation and recovery of assets. The paper also discusses the implementation issues, the inter-jurisdictional differences and the impact of political will and institutional capacity. Through a doctrinal and comparative method, the article identifies the strong and weak points of UNCAC and proposes reforms to make it effective in combating corruption both at the national and international levels.

Keywords – Corruption; United Nations Convention against Corruption; Asset Recovery; Criminalization Anti-Corruption Law; Financial; Crimes International Law; Governance; Transparency; Preventive Measures; International Cooperation; Rule of Law; Sustainable Development.

WTO DISPUTE SETTLEMENT AND INDIA–CHINA TRADE CONFLICTS: A CRITICAL LEGAL ANALYSIS

AUTHOR – NITISH HANSDA* & DR. RATNESH KUMAR SRIVASTAVA**

* LAW COLLEGE DEHRADUN, UTTARANCHAL UNIVERSITY, DEHRADUN, UTTARAKHAND, INDIA

** ASSISTANT PROFESSOR, LAW COLLEGE DEHRADUN, UTTARANCHAL UNIVERSITY, DEHRADUN, UTTARAKHAND, INDIA

BEST CITATION – NITISH HANSDA & DR. RATNESH KUMAR SRIVASTAVA, WTO DISPUTE SETTLEMENT AND INDIA–CHINA TRADE CONFLICTS: A CRITICAL LEGAL ANALYSIS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 628-634, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/IJLRV6I968

Abstract

 The dispute settlement mechanism of the World Trade Organization (WTO) is regarded as a fundamental component of the multilateral trading system, as it resolves trade disputes based on established rules. The given mechanism gains specific significance in the context of–India–China trade relations through the increasing amount of bilateral trade and the increasing number of conflicts related to anti-dumping policies, subsidies, and limitations to access the market. This paper critically analyses how WTO dispute settlement has been effective in resolving trade disputes between India and China. It assesses the level of adherence to WTO decisions, the procedural and structural constraints of the dispute settlement mechanism, and the strategic actions of both nations in this context. The paper also looks into the question of whether the existing WTO system suffices the problems of economic coercion and asymmetry in trade relations. It ends by mentioning that reforms are necessary to make the dispute-solving process more robust and promote fair decisions. 

ARTIFICIAL INTELLIGENCE AND THE FUTURE OF CRIMINAL LIABILITY: A CRITICAL LEGAL ANALYSIS

AUTHOR – DAMINI YADAV, STUDENT AT KES LAW COLLEGE

BEST CITATION – DAMINI YADAV, ARTIFICIAL INTELLIGENCE AND THE FUTURE OF CRIMINAL LIABILITY: A CRITICAL LEGAL ANALYSIS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 625-627, APIS – 3920 – 0001 & ISSN – 2583-2344.

INTRODUCTION

The unprecedented advancement of Artificial Intelligence in the contemporary technological era has fundamentally transformed the structure of modern society, redefining the boundaries of human capability, decision-making, and automation. Artificial Intelligence, once perceived as a mere theoretical concept confined to scientific imagination, has now emerged as a dominant force influencing critical sectors including healthcare, finance, defence, governance, transportation, and criminal justice systems. The rapid integration of intelligent autonomous systems into everyday human activities has undoubtedly generated immense societal benefits; however, it has simultaneously produced profound legal, ethical, and jurisprudential challenges that demand immediate scholarly and legislative attention. Furthermore, the increasing sophistication of Artificial Intelligence has intensified fears relating to algorithmic bias, autonomous weaponry, cyber manipulation, deep fake technology, digital surveillance, and transnational cybercrime. In the absence of effective regulatory frameworks, Artificial Intelligence possesses the potential to undermine legal certainty, individual rights, and public safety on an unprecedented scale. Consequently, legal systems across the world are confronted with the urgent necessity of re-evaluating traditional concepts of criminal liability in order to accommodate the rapidly evolving dimensions of technological autonomy.

COMMISSION OF INQUIRY ACT, 1952: A CRITICAL ANALYSIS OF POWERS, SAFEGUARDS AND GAPS IN INDIA’S INQUIRY FRAMEWORK

AUTHOR – KEERTHANA PREETHI A, STUDENT AT THE TAMILNADU DR B R AMBEDKAR LAW UNIVERSITY, PERUNGUDI

BEST CITATION – KEERTHANA PREETHI A, COMMISSION OF INQUIRY ACT, 1952: A CRITICAL ANALYSIS OF POWERS, SAFEGUARDS AND GAPS IN INDIA’S INQUIRY FRAMEWORK, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 616-624, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

The Commissions of Inquiry Act, 1952 (Act No. 60 of 1952) represents a pivotal legislative framework in India’s administrative law, establishing mechanisms for appointing commissions to investigate matters of public importance. This article provides a comprehensive critical analysis of the Act’s legislative framework, procedural safeguards, judicial powers, and constitutional implications. Through a systematic examination of all twelve sections, relevant judicial precedents, and comparative analysis with international inquiry mechanisms, this research identifies significant gaps in enforcement authority, transparency concerns, and potential constitutional conflicts regarding separation of powers. The article argues that while the Act serves essential fact-finding functions, it requires substantial amendments to address modern democratic concerns, enhance transparency, and strengthen procedural fairness for affected persons. This research contributes to ongoing scholarly discourse on administrative inquiry mechanisms and proposes specific reform recommendations for legislative consideration.

Keywords: Commissions of Inquiry Act, 1952; Administrative Law; Fact-Finding Mechanisms; Judicial Review; Constitutional Concerns; Procedural Safeguards.

ASSESING THE ENFORCEABILITY AND REFORM OF THE FRBM ACT IN THE CONTEXT OF FISCAL DISCIPLINE IN INDIAN STATES

AUTHOR – HRADYESH CHATURVEDI* & DR. SANJAY KULSHRESTHA**

* SCHOLAR AT INSTITUTE OF LAW, JIWAJI UNIVERSITY GWALIOR

** PROFESSOR AT INSTITUTE OF LAW, JIWAJI UNIVERSITY GWALIOR

BEST CITATION – HRADYESH CHATURVEDI & DR. SANJAY KULSHRESTHA, ASSESING THE ENFORCEABILITY AND REFORM OF THE FRBM ACT IN THE CONTEXT OF FISCAL DISCIPLINE IN INDIAN STATES, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 608-615, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/IJLRV6I965

ABSTRACT

Can a legislation truly enforce fiscal discipline if it carries no mechanism to punish its violation? Can a statutory framework designed to bind government to financial prudence remain credible when its targets are routinely revised, suspended, and abandoned without the consequence? Can a federal nation like India afford to impose fiscal responsibility obligations asymmetrically, holding it’s stated to standards that the union itself is not genuinely compelled to observe?

This paper delves into these fundamental questions. The Fiscal Responsibility and Budget Management Act, 2003 was enacted with the ambitious objective of institutionalizing fiscal discipline across all levels of government in India. Two decades since its enactment, however, the Act stands exposed as a largely symbolic instrument, one that articulates fiscal ideals without providing the institutional machinery to enforce them. The Act’s broadly worded escape clauses, the absence of an independent oversight body, and the pattern of repeated target revision have collectively reduced it to a statement of intent rather than a binding legal commitment.

This paper critically examines the structural Infirmities of the FRBM Act by analysing the gap between its stated objectives and actual fiscal outcomes at both the Union and the State levels. It interrogates that asymmetric burden placed on states vis-s-vis the Centre, and evaluates the NK Singh Committee recommendations of 2017 for their adequacy and the reasons for their non-implementation. Drawing upon comparative models from Australia’s Charter of Budget Honesty, the United Kingdom’s Office for Budget Responsibility, and Canada’s Parliamentary Budget Officer, the paper argues that meaningful fiscal reform in India demands not merely statutory revision but the creation of a genuinely independent fiscal council with constitutional backing. Without such reforms, fiscal discipline in India will remain aspirational rather tha  enforceable and the promise of the FRBM Act will continue to fall short of its foundational purpose.

Keywords: Fiscal Responsibility, Budget Management, FRBM Act, Fiscal Discipline, Fiscal Deficit, Fiscal Federalism, Enforceability, Escape Clauses, Fiscal Council, NK Singh Committee, State Finances

THE SHRINKING SHADOW OF THE PREDICATE OFFENCE: TRACKING THE EVOLVING BOUNDARIES OF ‘PROCEEDS OF CRIME

AUTHOR – HRISHABH SHARMA, STUDENT AT AMITY UNIVERSITY MADHYA PRADESH

BEST CITATION – HRISHABH SHARMA, THE SHRINKING SHADOW OF THE PREDICATE OFFENCE: TRACKING THE EVOLVING BOUNDARIES OF ‘PROCEEDS OF CRIME, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 597-607, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

The foundational architecture of anti-money laundering (AML) jurisprudence has traditionally rested on a symbiotic, derivative relationship between a ‘predicate offence’ (the underlying criminal activity) and the resulting ‘proceeds of crime’. Historically, money laundering was treated as an accessory crime—a consequential act inherently dependent upon the establishment of a primary illegal act. However, driven by the escalating sophistication of transnational financial networks and the aggressive standard-setting of global watchdogs like the Financial Action Task Force (FATF), recent legislative amendments and sweeping judicial pronouncements have triggered a paradigm shift. This paper, titled “The Shrinking Shadow of the Predicate Offence: Tracking the Evolving Boundaries of ‘Proceeds of Crime’,”, critically examines the jurisprudential transition of money laundering from an ancillary violation into a formidable, increasingly autonomous offence.

By tracing the statutory expansion of what constitutes ‘proceeds of crime’, the research highlights how modern AML frameworks have systematically decoupled money laundering from its predicate roots. The legal definition of “tainted property” has been aggressively widened to encompass not only the direct fruits of a crime but also properties of equivalent value, commingled assets, and assets held by bona fide third parties. Consequently, regulatory authorities now wield unprecedented, quasi-judicial powers to provisionally attach properties, freeze accounts, and prosecute individuals entirely independent of the outcome—or even the initiation—of a formal criminal trial for the foundational predicate offence. The shadow of the predicate crime has shrunk to the extent that an acquittal in the primary offence no longer guarantees a discharge from the corresponding money laundering prosecution in several jurisdictions.

The paper systematically analyzes the practical and legal implications of this decoupling, evaluating the acute tension between the State’s compelling interest in preemptively combatting systemic financial crimes and the steady erosion of fundamental constitutional safeguards. Through a critical appraisal of recent case law, the research explores how the creation of a “standalone offence” fundamentally alters traditional criminal law doctrines.

   Key words – Predicate Offence, Standalone Offence, Proceeds of Crime, Reverse Burden of Proof

ADVERTISING AND PROGRAMMATIC BIDDING: WHERE FREE SPEECH MEETS TRADEMARK INFRINGEMENT

AUTHOR – VIKASH VERMA, STUDENT AMITY UNIVERSITY, GWALIOR, MADHYA PRADESH

BEST CITATION – VIKASH VERMA, ADVERTISING AND PROGRAMMATIC BIDDING: WHERE FREE SPEECH MEETS TRADEMARK INFRINGEMENT, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 589-596, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

In the contemporary digital economy, algorithmic search visibility has largely replaced traditional storefronts, rendering search engine keywords prime commercial real estate. Through programmatic platforms like Google Ads, businesses frequently bid on competitors’ trademarked names to trigger sponsored advertisements^[1]. While a triumph of targeted marketing, this invisible, backend auction mechanism has precipitated a profound doctrinal collision between modern internet architecture and traditional trademark law. This paper argues that the uncritical application of the Initial Interest Confusion (IIC) doctrine—a framework originally formulated for physical misdirection and early internet illiteracy—to algorithmic keyword bidding is fundamentally flawed.^[2] IIC is ill-equipped to govern sophisticated digital marketplaces where digitally literate consumers actively rely on search engines to present multiple, competitive options.

By conducting a comparative jurisdictional analysis, this paper highlights a fractured global legal landscape. It contrasts India’s strict scrutiny, which often interprets backend algorithmic triggers as actionable statutory “use” under the Trade Marks Act, 1999, with the United States’ highly permissive “sophisticated consumer” standard, and the European Union’s pragmatic “Ad Clarity” middle ground. Furthermore, the paper contextualizes this friction within a broader constitutional framework, arguing that algorithmic keyword advertising serves as a digital form of comparative advertising, protected as commercial speech under Article 19(1)(a) of the Indian Constitution. When courts issue blanket injunctions based on backend keyword overlap, they risk transforming trademark law into an anti-competitive sword that stifles the free flow of commercial information and restricts consumer choice.

Empirically, considering the massive volume of registered trademarks globally, linguistic overlap in programmatic algorithms is mathematically inevitable. Consequently, this paper proposes a paradigm shift toward a novel “Deceptive Diversion” framework. This harmonized legal standard shifts the evaluative focus away from the invisible backend bidding of a trademark and places it strictly on the visible, front-end clarity of the resulting advertisement. By enforcing a three-pronged test—comprising an Ad Clarity Threshold, a Cloning Prohibition, and Landing Page Continuity—the proposed framework ensures that liability attaches only in instances of active deception, thereby restoring the critical balance between brand equity protection and healthy free-market competition.

Keywords: Keyword Advertising, Programmatic Bidding, Trademark Infringement, Commercial Speech, Initial Interest Confusion, Deceptive Diversion, Algorithmic Use, Comparative Jurisprudence

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[1] See Google Ads Help, How Keyword Auctions Work.

[2] Brookfield Communications, Inc. v. West Coast Entertainment Corp., 174 F.3d 1036 (9th Cir. 1999).

“NARCO ANALYSIS LIE DETECTOR TEST AND FUNDAMENTAL RIGHTS: A STUDY WITH SPECIAL REFERENCE TO INDIAN CRIMINAL JUSTICE SYSTEM”

AUTHOR – PRANJAL KUKRETI* & ASST PROF. UJJAWAL KUMAR SINGH**

* LAW COLLEGE DEHRADUN, UTTARANCHAL UNIVERSITY, DEHRADUN, UTTARAKHAND, INDIA

** ASSISTANT PROFESSOR, LAW COLLEGE DEHRADUN, UTTARANCHAL UNIVERSITY, DEHRADUN, UTTARAKHAND, INDIA

BEST CITATION – PRANJAL KUKRETI & ASST PROF. UJJAWAL KUMAR SINGH, “NARCO ANALYSIS LIE DETECTOR TEST AND FUNDAMENTAL RIGHTS: A STUDY WITH SPECIAL REFERENCE TO INDIAN CRIMINAL JUSTICE SYSTEM”, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (9) OF 2026, PG. 581-588, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

Narco analysis and lie detector tests have emerged as controversial investigative techniques within the Indian criminal justice system. These scientific methods are primarily used to extract information from suspects and accused persons during criminal investigations. However, their application raises significant constitutional and human rights concerns, particularly regarding the protection of fundamental rights guaranteed under the Constitution of India. The involuntary administration of narco analysis, polygraph tests, and brain mapping has been criticized for violating the right against self-incrimination under Article 20(3), the right to life and personal liberty under Article 21, and the right to privacy. The landmark judgment of the Supreme Court in Selvi v. State of Karnataka significantly restricted the compulsory use of such techniques. This study examines the legal validity, constitutional implications, judicial approach, evidentiary value, and ethical dimensions of narco analysis and lie detector tests within the framework of the Indian criminal justice system and fundamental rights jurisprudence.

KEYWORDS: Narco Analysis, Lie Detector Test, Polygraph Examination, Brain Mapping, Fundamental Rights