03/03/2020
The Indian P2P lending industry witnessed a sudden boom in 2017, facilitated by the fintech revolution. Expected to hit the $4 Bn-$5 Bn mark by 2023, the Indian P2P lending space currently has more than 35 serious players. In October 2017, the RBI released a list of directives pertaining to the registration and operation of NBFC-P2Ps in a draft entitled Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017. JSK has received its non-banking financial companies (NBFC)-Peer-to-Peer (P2P) certification from the RBI (Reserve Bank of India). The accreditation makes Faircent the first P2P lending platform in the country to receive the certificate of registration as an NBFC-P2P by the national regulator.
