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BRIEF-India cenbank issues guidelines for peer-to-peer lending platform
October 4, 2017 / 1:38 PM / 2 months ago

BRIEF-India cenbank issues guidelines for peer-to-peer lending platform

Oct 4 (Reuters) - Reserve Bank of India:

* Master Directions - Non-Banking Financial Company – Peer to Peer lending platform (reserve bank) directions, 2017

* Non-banking financial company – peer to peer lending platform directions shall come into force with immediate effect‍​

* No non-banking institution other than a company shall undertake the business of peer to peer lending platform

* Every company seeking registration as nbfc-p2p to have a minimum net owned fund of twenty million rupees Source text - bit.ly/2fJbc2l

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