RBI will be regulating peer-to-peer platforms

Q.  RBI will be proposing rules for what type of lending?
- Published on 29 Apr 16

a. Peer to peer
b. Social sector
c. Both of the above
d. None of the above

ANSWER: Peer to peer
 
RBI for the first time has proposed rules for peer to peer lending to regulate the growing sector with numerous measures. This includes a minimum capital of INR 20 million and prohibition from promising extraordinary returns.
  • RBI also proposed that those defined as companies should be able to engage in peer to peer lending and firms may be categorised in the growing sector as NBFC in this sector
  • Peer-to-peer lending has grown in many countries including India where only a limited portion of the population can access bank finance.

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