Artificial Intelligence is quietly reshaping the financial world. When you apply for a loan and receive a decision in seconds, when your bank flags a suspicious transaction, or when an app recommends where to invest, AI is working in the background. But what happens to fairness, transparency, and accountability when machines make decisions that affect your money, your credit, and your future?
The book maps India's evolving legal landscape, from the Digital Personal Data Protection Act 2023 and RBI guidelines on digital lending, to SEBI's regulation of algorithmic trading and the constitutional right to privacy. It also examines what India can learn from the EU AI Act, Singapore's FEAT principles, and the United States' approach to algorithmic fairness.
This book covers:
• What AI in finance actually does, and what can go wrong
• Constitutional protections, consumer rights, and data privacy in the AI age
• Accountability and liability when algorithms cause harm
• The Digital Personal Data Protection Act and its limits
• Algorithmic bias, explainability, and the case for fairness audits
• How India compares to the EU, US, and Singapore on AI regulation
• Risk classification frameworks and regulatory sandboxes
• A practical roadmap for India's AI law in financial services
Written in an accessible style, this book is for law students, fintech professionals, policy thinkers, regulators and citizens who wants to understand and shape the future of AI in Indian finance.
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Joy Bose
Joy Bose is a technology professional and legal researcher with an LLM from Golden Gate University, San Francisco, where his dissertation examined AI governance in financial services across India and international jurisdictions. He writes on artificial intelligence, data protection, and the future of financial regulation in India.
