P2P lenders may be allowed to operate offline

In a bid to impart vibrancy to the fledgling peer-to-peer (P2P) lending space and also further the cause of financial inclusion, the Reserve Bank of India is believed to be looking at allowing players in the sector to have an offline presence besides an online one.

Further, to attract more players into the P2P space, entities (such as societies) other than those registered under the Companies Act may be allowed entry, say industry insiders.

The consultation paper on P2P lending, which was released in April 2016, had recommended that no entity other than a company should undertake P2P lending activity.................Read more


Source: Business Line

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