Peer to Peer (P2P) lending, also known as social lending/cloud lending is a method to finance debt which enables individuals to lend and borrow money without the involvement of an official financial institution as an intermediary. Basically, it eliminates the need of middlemen involved in the process but is time-consuming. In P2P lending, lenders are free to choose whom to lend and can diversify their options among different borrowers.
Every existing and prospective P2P needs to make an application for registration to the following Address ‘ the Department of Non-Banking Regulation, Mumbai of the Bank’, in the form specified by the Bank along with additional documents. Whereas existing P2P can apply for the peer to peer lending registration within three months from the date these documents were issued.
Platform for p2b lending is a kind of device which connects the participants to interact with each other.
The validity of the in-principle approval by RBI would be 12 months from the date of granting such approvals.
As per the directions, only bank transfers are allowed to transfer the funds.In other words,no cash transfers can take place.
Thanks Muds Team for their all round support in successful delivery of services. Their approach is Client Centric and they possess the deep understanding of the Subject
Their Professional Approach blended with personal touch eases out all hassals in the Transaction.
We have been working with Muds since 4 years and their service is dependable. I highly recommend Muds in every facets of Business for the hassal free sleep.