Your Weekly dose of Legal, Technology and Risk Insights
TOP STORY OF THE WEEK
India opens listed equities to all overseas investors, doubles PIS investment limit to 10%
India has expanded access to its stock market for overseas individual investors by allowing all Persons Resident Outside India (PROIs) to invest in equity instruments of listed Indian companies through the Portfolio Investment Scheme (PIS). The move, announced in the Union Budget 2026-27 and notified through the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026, is aimed at attracting greater foreign capital and deepening domestic capital markets.
LEGAL & TECH
Supreme Court declares right to walk on footpath a fundamental right, wants law
The judgment came in a case of the death of a five-year-old boy who was crushed to death by a truck while walking to the neighbourhood school with his father.Justice Narasimha said walking safely and carefree along wide footpaths, without danger lurking at every turn, was the most basic of rights. It is the “simplest of the simple human activity, inextricably connected to life”, Justice Narasimha observed.The court said the Constitution recognised and guaranteed walking as a fundamental right in its words, “All citizens shall have the right…to move freely throughout the territory of India”.
Motor Accident Claim | Loss Of Right Leg Must Be Treated As 100% Functional Disability For Mason : Supreme Court
The Supreme Court, in an appeal against the Madras High Court judgment, enhanced motor accident compensation from Rs 23.86 lakh to Rs 40.29 lakh. The Court reiterated that in disability cases, compensation must be based on functional disability (loss of earning capacity) rather than just certified physical disability. It held that although the claimant had a 70% physical disability, his occupation as a mason meant he had effectively suffered 100% functional disability. This resulted in a higher compensation award, emphasizing the impact of injury on livelihood over medical assessment alone.
CORPORATE COMPLIANCE
Investment apps may have to abandon rewards-based customer acquisition under SEBI's proposed ad code
Investment platforms and stockbroking apps may have to rethink their customer acquisition strategies after the Securities and Exchange Board of India (SEBI) proposed banning incentives linked to account opening, reactivating dormant accounts and increasing trading activity. The proposal is part of SEBI's draft Common Advertisement Code (CAC), released for public consultation on June 23, which seeks to establish a uniform advertising framework for stock brokers, mutual funds, investment advisers, portfolio managers, research analysts and other regulated entities.
RBI issues draft guidelines on secondary market transactions in government securities
The central bank stated that secondary market transactions in government securities are currently conducted as per directions issued from time to time. The new draft aims to enhance clarity, streamline compliance, and provide a single point of reference for all stakeholders. This consolidation could make it easier for banks, investors, and other market participants to understand and comply with the rules. The government securities market is a key part of India's financial system, so such unified guidelines can bring greater stability to operational processes and regulatory compliance.
Risk Intelligence
CBI Launches 'Digital Arrest' Scam Operation Across 16 States, Including Assam
CBI launched Operation Chakra-VI, raiding over 80 locations across 16 states to crack down on digital arrest scams. Two individuals were arrested for allegedly operating shell companies and mule accounts used to launder nearly Rs 2 crore. The investigation linked the network to over 200 fraud cases and uncovered a fake website resembling the Supreme Court’s portal. Authorities seized key digital and financial evidence, with indications that the scam targeted victims in India and abroad.
Digital arrest and fear scams: Why educated users fall for cyber fraud
Digital arrest scams continue to evolve, targeting even educated and financially aware individuals by exploiting fear and trust in authority. Cybercriminals impersonate law enforcement officials, using fake legal notices, spoofed calls, and fabricated investigations to coerce victims into transferring money. India's I4C infrastructure, the 1930 helpline, and the CFCFRMS has helped save over Rs 7,130 crore across more than 2.3 million complaints, but the scale is sobering: Indians lost roughly Rs 22,495 crore to cyber fraud in 2025, with investment scams accounting for about 75–77% of the money stolen.
KNOWLEDGE BYTES
Why Modern Businesses Are Strengthening Risk Management With A Criminal History Check
Background verification has moved beyond a routine HR step into a core layer of enterprise risk management and due diligence. As legal scrutiny and third-party risk grow, organizations need early visibility into litigation-related exposure before hiring leaders, onboarding vendors, or filling high-trust roles. Traditional manual checks create blind spots like fragmented records, inconsistent reviews, time pressure, and false positives from common names. The shift is toward structured, centralized workflows that surface court-linked information, scale across high-volume hiring, and produce audit-ready documentation.