Regtech for India's Growth: Transforming Regulatory Compliance

Regtech for India’s Growth: Transforming Regulatory Compliance

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Author: Dr. R. Raghavendra Rao

Abstract
The Indian economy holds significant relevance for research, particularly in the financial sector, due to its unique challenges such as a large unbanked population, rapid digital expansion, and a complex regulatory environment. The notable growth of the fintech sector necessitates strong regulatory compliance mechanisms to ensure stability, efficiency, and consumer protection. Financial regulations in India are governed by multiple apex bodies, including SEBI, RBI, and IRDAI, making compliance a demanding and resource-intensive task for fintech companies. Regulatory Technology (RegTech) has emerged as a transformative solution to simplify these complexities by offering automated, technology driven compliance support. Leveraging tools such as Artificial Intelligence, Machine Learning, Automation, and Data Analytics, RegTech solutions help institutions meet the requirements of regulatory frameworks, including sandbox guidelines. In India, the RegTech ecosystem is rapidly evolving, with an increasing number of startups and established players entering the digital compliance space. Globally, the RegTech market is projected to grow at a
compound annual growth rate of 20.30% between 2023 and 2028. This study adopts a qualitative, conceptual and review-based methodology grounded entirely in secondary data, drawing from journal articles, regulatory reports, policy documents, and market analyses. The paper examines the structure and evolution of the RegTech ecosystem in India and evaluates its contribution to economic growth. It further analyses successful case examples, identifies existing challenges, and outlines future directions for strengthening regulatory technology solutions in the Indian context.
JEL Classification Codes: G20, G21, L86

Published in: Journal of Global Information and Business Strategy (JGIBS), January-December 2025 (Volume-17, Number-1, 2025)

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