While P2P lending firms panic over RBI's crackdown, this NBFC-P2P sees a silver lining

Quick Summary:

LenDenClub CEO Bhavin Patel remains optimistic about P2P lending despite stricter RBI regulations, viewing increased transparency as beneficial for the long-term growth of the sector.

RBI has now required NBFC-P2Ps to make an explicit declaration clarifying that lenders shall bear the entire loss of principal or interest, or both, if any, lent to borrowers on the platforms.

So, will the new provisions make these products slightly less attractive? Bhavin thinks not.“P2P platforms will be more attractive for the user in a much longer term because any instrument becomes better when there is more transparency,” Bhavin notes.

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Article Details

Author / Journalist: Sayan Sen

Category: StartupsEconomyBusiness

Markets: India

Topics: Bhavin Customers Patel Investment Platform Settlement Platforms Lendenclub Lending Products Lenders

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 12:28:16 (2 days ago)

News Timezone: GMT +8:00

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Language: English

Article Length: 934 words

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