RBI’s Consultation Paper on Peer to Peer Lending

March 15, 2017
Knowledge Center

Good News for P2P (Peer-to-Peer) lending industry in India..!!!

The much-awaited consultation paper from RBI on P2P lending has been released recently and will play an instrumental role in deciding the contours of P2P (Peer to Peer) lending in India. It looks like a sector and lender confidence-boosting step by RBI.

In our endeavor to promote adequate transparency in the P2P Lending space, we are pleased to share some of the key highlights of this consultation paper: –

To read the complete consultation paper, please click on the below link: – https://rbidocs.rbi.org.in/rdocs/content/pdfs/CPERR280416.pdf

We at Lendenclub are actively collecting feedback from lenders and will share it with regulators to draft progressive and beneficial regulations.

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LenDenClub is an Intermediary under the provisions of the Information Technology Act, 2000 and virtually connects lenders and borrowers through its electronic platform via the website and/or mobile app.

The lending transaction is purely between lenders and borrowers at their own discretion, and LenDenClub does not assure loan fulfilment and/or investment returns. Also, the information provided on the platform is verified or checked on the best efforts basis without guaranteeing any accuracy of the data/information verification. Any investment decision taken by a lender on the basis of this information is at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower, fully or partially. The risk is entirely on the lender. LenDenClub will not be responsible for the full or partial loss of the principal and/or interest of lenders’ investment amounts.

 

*P2P investment is subject to risks. And investment decisions taken by a lender on the basis of this information are at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower.

** Average value mentioned is the weighted average of returns received by investors

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