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Peer-to-peer lending, also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers. Peer-to-peer lending companies often offer their services online, and attempt to operate with lower overhead and provide their services more cheaply than traditional ...
RBI on 6 April 2023 proposed allowing credit on UPI through pre-approved bank lines which would help customers reduce their dependence on credit cards. [42] [43] On its point-of-sale devices, Razorpay introduced a quick refund feature for UPI in 2024. Compared to the industry average of five to six business days, the reimbursement will be ...
In December 2019, the RBI increased the lending limit on P2P platforms to Rs 50 lakh, up from the previous limit of Rs 10 lakh. [8] In 2021, LenDenClub was chosen to participate in the Microsoft for Startups program and its co-founders Bhavin Patel and Dipesh Karki were featured in the Businessworld's BW Disrupt 40 Under 40 list.
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2009: Received in-principle approval from RBI to set up as a credit information company amongst 13 applicants [20] 2010 : Received license from RBI to operate as a credit information company [ 4 ] 2011 : Launched India's first credit bureau services for microfinance industry (MFIs etc.) in March 2011 [ 16 ]
Payment and settlement systems are used for financial transactions in India. Covered by the Payment and Settlement Systems Act of 2007 (PSS Act), legislated in December 2007, they are regulated by the Reserve Bank of India (RBI) and the Board for Regulation and Supervision of Payment and Settlement Systems.