Founder - Burn Inves... • 7m
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.
Founder - Burn Inves... • 1y
why the RBI isn't taking any action against P2P platforms for accepting lenders' money on their own balance sheets. According to RBI guidelines, P2P platforms cannot accept money on their own balance sheet or provide rapid liquidity to any lender, ye
See MoreFounder - Burn Inves... • 18d
P2P Lending in India Is Broken and No One Wants to Admit It 😔 The NPA rate in India’s P2P lending space has gone up a lot recently but strangely, many companies and investors are still turning a blind eye. Some platforms have even built their own
See MoreBeing innovative • 6m
i have idea of creating an online platform that connects lenders directly with borrowers is similar to peer-to-peer lending (P2P lending). P2P lending has become popular in recent years as an alternative to traditional banking and NBFC loans. To mak
See MoreFounder at Stockware • 8m
Navi Finserv Ordered to Cease Loan Disbursement by RBI 🚨 In a recent development, Navi Finserv, the NBFC arm of Sachin Bansal’s Navi Technologies, has been ordered by the Reserve Bank of India to cease and desist from sanctioning and disbursing loa
See MoreBelieve in change • 4m
Hi Friends, Please upvote my idea “Hey Buddy” on startup showcase Hey Buddy is a peer-to-peer (P2P) general lending platform that will enable you to connect with the peers in your nearby area or across cities for lending and borrowing of items for d
See MoreDownload the medial app to read full posts, comements and news.