In March 2020, the Reserve Bank of India's guidelines on Payment Aggregators and Payment Gateways prohibited merchants from storing data on cards used by customers. This paper argues that a total prohibition on card data storage is problematic as it affects the ease of transactions for...

This paper studies how courts in India have dealt with consumer finance disputes. It presents the organisation of the courts that hear consumer finance cases. It reviews the 60 most cited cases to study the position that courts have taken in banking and insurance disputes. For the cases studied,...

International norms mandate customer identification as an essential step in accessing the formal finance. However, poor design of identification processes can lead to unwanted outcomes such as promoting exclusions from financial markets. In this context, this paper examines the ``know your...

We present results from a first ever representative phone survey that measures consumer grievances in Indian retail financial markets. We find that for every com- plaint on banking and payments that makes it to the regulatory system, there are 60 grievances that do not get voiced. In insurance...