P2P Lending Firms to Get Boost as RBI May Raise Investment Limit of Individuals
19 April 2019 10:55 AM GMT
Peer-to-Peer (P2P) lending firms are likely to get some breather from the Reserve Bank of India (RBI), as the central bank is likely to raise the ceiling
- Peer-to-Peer (P2P) lending firms are likely to get some breather from the Reserve Bank of India (RBI), as the central bank is likely to raise the ceiling on fund infusion from individual investors into these platforms to around Rs 25 lakh from Rs 10 lakh currently, reported Business Standard .
- According to existing P2P lending guidelines, an individual's total exposure to P2P lending can not be more than Rs 10 lakh, across all the platforms combined.
- Currently, through all existing P2P lending platforms, a lender can lend a maximum of Rs 50,000 to a single borrower and the total money lent across all the platforms combined can not be more than Rs 10 lakh.
- It was in October 2017 when RBI, to limit the risk exposure of individuals, imposed limits on how much can be lent and how much can be borrowed by individuals from P2P lending platforms.
Next Story
