RBI notifies P2P lending platforms as NBFCsSeptember 20 2017
While the impending regulations governing Peer-to-Peer (P2P) lending platforms are awaited, the Reserve Bank of India (RBI) has notified that such platforms will fall under the ambit of a Non-Banking Financial Company (NBFC).
The gazetted notification further defines what the business of P2P lending is,
“the business of providing under a contract, the service of loan facilitation, via online medium or otherwise, to the participants who have entered . . .
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