RBI has introduced a new framework for licensed payment aggregators and payment gateways for cross-border merchant payments, making them fully responsible for PMLA compliance and suspicious transaction reporting. The regulator aims to bring clarity and clearer ownership to merchant payments, while also allowing UPI to be used—raising hopes for a true India cross-border payments upgrade.
The Supreme Court has reiterated the principle that bail is the norm and jail the exception, grounding the approach in Article 21’s protection of personal liberty. The rulings also question how Section 45 of the Prevention of Money Laundering Act operates, arguing it can undermine the presumption of innocence. The focus shifts to balancing enforcement with constitutional rights.
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