Peer-to-peer lending Current Affairs, GK & News
To promote innovation in FinTech space, the Reserve Bank of India (RBI) has decided to set up a Regulatory Sandbox for Fintech Startups. The central bank will issue guidelines within two months for fintech companies to test their new products on a small group of users before scaling up. The sandbox will enable fintech companies ..
The Union Government has issued gazette notification, notifying that Peer-to-peer lending (P2P) platforms will be treated as non-banking financial companies (NBFCs) and thus regulated by Reserve Bank of India (RBI). The notification will help P2P lenders to gain official recognition and opens new avenues for fund-raising and business expansion. It also ends the regulatory vacuum ..