Welcome to rizingBharat! Today we're diving into the world of fintech. This video is for aspiring entrepreneurs who want to start their fintech startup but are overwhelmed by the legal requirements and compliances. Don’t worry, I'll break it down in simple terms.
In this video, we'll cover:
1. What is Fintech?
- Definition and examples like online payments (Paytm, Google Pay), digital banking, lending platforms (KreditBee), and investment apps (Groww, Zerodha).
2. Starting Your Fintech Company:
- Deciding your company structure (Private Limited Company, LLP).
- Steps for company registration with the Ministry of Corporate Affairs (DSC, DIN, necessary forms).
3. Licensing and Regulatory Approvals:
- Licenses from RBI for payment systems, wallets, and lending services.
- SEBI approval for investment-related services.
4. Data Protection and Privacy:
- Implementing measures as per the Personal Data Protection Bill and IT Act, 2000.
5. KYC Compliance:
- Verifying customer identities to prevent money laundering and fraud.
6. Anti-Money Laundering (AML) Policies:
- Monitoring and reporting suspicious transactions to the Financial Intelligence Unit (FIU-IND).
7. Taxation:
- GST registration and income tax compliance. mo
8. Employment Laws:
- Adhering to minimum wage, employee benefits, and workplace safety regulations.
9. Consumer Protection:
- Ensuring transparent and fair services under the Consumer Protection Act.
10. Intellectual Property (IP):
- Registering trademarks, patents, and copyrights to protect your brand and technology.
11. Practical Steps:
- Consulting legal experts, developing internal policies, and conducting regular audits.
By the end of this video, you'll have a clear understanding of how to navigate the complexities of starting a fintech company. If you have any questions, connect with us on social media. If you found this video helpful, like, share, and comment below on what topic you want us to cover next.
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Written & Narrated by: Avi Raj
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