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Rohan Saha

Stealth • 3d

We reached out to many P2P platforms from January to July this year regarding their incorrect business models where they were not following P2P lending rules. They kept telling us that they were not doing anything wrong and were operating according to RBI rules. However, now that RBI has taken action, these same platforms are adopting the business model we suggested, which is the core of the P2P lending business. These P2P platforms had turned lending into an investment scheme: you give us money, we will lend it out, and if there is a loss, it’s yours, but if there is a profit, we will give you 10% and keep 15% for ourselves. In reality, they were giving loans at 20-25% interest rates normally, but investors were only getting returns of 10-12%. It feels good to see what is happening now. The industry might slow down for some time, but in the long run, it will be very beneficial.

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