India is keeping up to date with new forms of finance. Following last month’s statement from the Securities and Exchange Board of India that it will release crowdfunding regulations “soon”, we now learn that the Reserve Bank of India (RBI), disclosed it is researching peer to peer lending and will publish a document regarding online lending soon.RBI deputy governor, Gandhi, stated: “RBI is actively studying the peer-to-peer lending arrangements that are slowly gaining traction. While recognising the need for innovative products and services, we should be conscious of the risk emanating from such services. Based on a detail study we intend to bring out a discussion paper for public consultation. RBI is aligned to the developmental needs of the economy and therefore will continue to approve of new types of NBFCs if the economy so requires them.”
India is keeping up to date with new forms of finance. Following last month’s statement from the Securities and Exchange Board of India that it will release crowdfunding regulations “soon”, we now learn that the Reserve Bank of India (RBI), disclosed it is researching peer to peer lending and will publish a document regarding online lending soon.RBI deputy governor, R. Gandhi, stated: “RBI is actively studying the peer-to-peer lending arrangements that are slowly gaining traction. While recognising the need for innovative products and services, we should be conscious of the risk emanating from such services. Based on a detail study we intend to bring out a discussion paper for public consultation. RBI is aligned to the developmental needs of the economy and therefore will continue to approve of new types of NBFCs if the economy so requires them.”