Prudential Norms :-
- NBFC-P2P shall maintain a Leverage Ratio not exceeding 2.
- The aggregate exposure of a lender to all borrowers at any point of time, across all P2Ps, shall be subject to a cap of 10,00,000/-.
- The aggregate loans taken by a borrower at any point of time, across all P2Ps, shall be subject to a cap of 10,00,000/-.
- The exposure of a single lender to the same borrower, across all P2Ps, shall not exceed 50,000/-.
- The maturity of the loans shall not exceed 36 months.
- P2Ps shall obtain a certificate from the borrower or lender, as applicable, that the limits prescribed above are being adhered to.
(1) NBFC-P2P shall have a Board approved policy in place –
- Setting out the eligibility criteria for participants on it.
- Determining the pricing of services provided by it.
- Setting out the rules for matching lenders with borrowers in an equitable and non-discriminatory manner.
(2) The outsourcing of any activity by NBFC-P2P does not diminish its obligations and it shall be responsible for the actions of its service providers including recovery agents and the confidentiality of information pertaining to the participant that is available with the service providers.
(3) No loan shall be disbursed unless the individual lender/s have approved the individual recipient/s of the loan and all concerned participants have signed the loan contract.
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