P2P(Peer to Peer) Lending Platform
P2P lending is a form of crowd-funding which enables individuals to borrow and lend money without any financial institution as an intermediary. The borrower can either be an individual or a legal person.
- Some leading examples of the P2P lending platforms are Faircent, Lenden club, Finzy, Rupeecircle,Lend box, etc.
- All P2P platforms are considered non banking financial companies and are regulated by the RBI.
Impact
- Accessibility: Surveys of P2P borrowers reveal that the convenience of using a web-base to get credit is the highest ranked benefit of P2P-lending.
- Lower administration cost and enhanced efficiency: The advantages are seen mainly as lower transaction costs ....
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