Peer-to-peer lending NPAs surge over 2X to Rs 1,163 Cr in FY24

Quick Summary:

Capitalmind Financial Services said the total quantum of sour loans stood at Rs 472.1 crore at the end of FY23, citing RBI data.

"The current crisis underscores the need for a balanced approach to regulation—one that protects stakeholders without stifling the industry's potential to bridge India's vast credit gap," it added.

P2P entities say the new guidelines are a body blow to the sector.

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Article Details

Author / Journalist: Sayan Sen

Category: StartupsEconomyBusiness

Markets: India

Topics: Services Total Policy Peer-to-peer Lending Lenders Information Data Entities Privacy Crore

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-17 @ 07:33:21 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 273 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 17 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 24496066

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