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RBI guidelines on P2P lending platform likely by June-July

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The Reserve Bank of India (RBI) is expected to come out by June-July with guidelines to regulate the Indian peer-to-peer (P2P) lending market. The RBI had floated  a consultation paper in April 2016 on the Indian P2P lending that has been taking roots in India. The discussion paper is to be followed by formal guidelines for  the sector, which currently is self-governed. The borrowing-lending channel Faircent.com, which is run by Gurugram-based Fairassets Technologies India Pvt. Ltd, said the sector will grow over a period of time as more and more people become aware of this vertical. “The guidelines are expected by June or July, however, it was supposed to come out in October last year but delayed initially due to demonetization, followed by early budget and then elections in few states,”Fairassets Technologies India founder and chief operating officer Vinay Mathews said in an interview.
Mint, New Delhi, 29th May, 2017

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