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Financial Services

Financial Services law firm in India

India has a broad financial industry that is rapidly growing due to both the development of already-existing financial services companies and the entry of new players. Commercial banks, insurance firms, non-banking financial institutions, co-ops, pension funds, mutual funds, and other smaller financial organisations make up the sector. The banking regulator has permitted the creation of new organisations, such as payment banks, expanding the variety of organisations functioning in the market. Further, India's economy is currently among the most dynamic in the world because of its thriving banking and insurance industries.

The insurance industry has responded favourably to the loosening of foreign investment regulations, with several corporations declaring plans to raise their interests in joint ventures with Indian firms. Several joint venture agreements between major international insurance companies and regional firms may be struck throughout the ensuing quarters. By 2028, India is expected to be the fourth largest global private wealth sector.

Services Offered as Financial Services law firm :

Financial sector is the backbone of India. A lot of developments keep taking place on a regular basis, to improve the working mechanism of this sector, which will make the country a global leader. At KSK, our dedicated team has been routinely assisting the clients with the following broad services:

  1. Assistance in bankruptcy and insolvency proceedings
  2. Structuring and documentation of project finance deals
  3. Assistance in real estate financing
  4. Drafting term sheets and transactional documents
  5. Advising on the regulatory framework
  6. Assistance in debt and capital markets
  7. Advisory in setting up an NBFC
  8. Advisory in deals related to green bonds and carbon credit


Government-approved financial entities, banks aim to offer their clients banking services. Conversely, NBFCs are businesses that provide banking services to the general public without holding a bank licence. They are essentially privately held businesses that the RBI and other governmental bodies like the Ministry of Corporate Affairs and IRDAI regulate and oversee. The performance of banks and NBFCs in their respective domains is extraordinary. The Companies Act of 1956 governs the registration of NBFCs. Banks, on the other hand, must register under the 1949 Banking Regulation Act. Unlike banks, the majority of NBFCs do not offer transaction services. A traveller's check issuing facility, fund transfers, and overdraft facilities are a few of these transaction services.

Following are some of the key sets of regulations:

  • The Banking Regulation Act of 1949 serves as the primary regulatory framework for banking and associated financial services (Banking Regulation Act).
  • The Reserve Bank of India (RBI) has the authority to establish rules, regulations, instructions, and guidelines on a variety of topics relevant to the banking and the financial sector under the Reserve Bank of India Act, 1934 (RBI Act). The RBI is the country's central bank and the main body in charge of banking regulation.
  • The Foreign Exchange Management Act of 1999 regulates international trade and associated activities. This enables, among other things, the licensing of specific banking and other organizations as authorized dealers in foreign exchange.

The Reserve Bank of India is the country's main banking regulator (RBI). The RBI has extensive authority to oversee the financial industry. These include establishing standards for establishing and regulating banks (including foreign bank branches in India), corporate governance, prudential standards, and requirements for product and service structure.

Other financial sector authorities in India include the Securities Exchange Board of India (SEBI), which is in charge of overseeing the country's stock market.

The insurance industry is governed by the Insurance Regulatory and Development Authority of India (IRDAI).

The Bankruptcy and Bankruptcy Board of India (IBBI), oversees how insolvency procedures under the Insolvency and Bankruptcy Code are carried out (IBC).

Any organization wishing to conduct banking operations in India must apply for a license with the RBI.

A banking corporation with a license may additionally engage in a variety of auxiliary activities, including borrowing and lending, trade financing, guarantee and indemnification transactions, financial leasing and hire-purchase transactions, and securitization.

An organisation that wants to trade in foreign exchange must additionally apply for and receive a second RBI licence as an authorised dealer. According to the Foreign Exchange Management Act, this licence has been granted. Authorized dealers are given extensive authority to oversee and coordinate international and foreign exchange operations. All international money transfers to or from India go through these authorised dealers.

Not at all. Although NBFCs, Housing Finance Companies, Merchant Banking Companies, Stock Exchanges, Companies Engaged in the Business of Stock-Broking/Sub-Broking, Venture Capital Fund Companies, Nidhi Companies, Insurance Companies, and Chit Fund Companies are exempt from the requirement of registration under Section 45-IA of the RBI Act, 1934 subject to certain conditions, they are not required to register.

National Housing Bank regulates housing finance firms, the Securities and Exchange Board of India (SEBI) regulates merchant bankers, venture capital fund companies, stock exchanges, stock brokers, and sub-brokers, and Insurance Regulatory and Development Authority regulates insurance companies. Similar to how Nidhi Companies are governed by the Ministry of Corporate Affairs, the Government of India, and Chit Fund Companies are, and so too, are the respective State Governments. To prevent duality of regulation, the Reserve Bank specifically exempts companies that do financial operations but are also subject to the jurisdiction of other authorities from its regulatory obligations.




The Firm has a team of lawyers who hold expertise in financial sector and is in position to provide you with unrivalled expertise on your finance related legal assistance needs.
The Litigation Team of the firm predominantly involves catering to the needs of Indian and Multinational clients
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We regularly represent corporate and individual clients before state and central administrative agencies

King Stubb & Kasiva

Offices In - New Delhi | Bangalore | Mumbai
Chennai | Hyderabad | Kochi | Pune | Mangalore

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