P2Ps see rising customer interest ahead of T+1 deadline on November 14

Despite continuity in business operations, companies are proceeding with caution citing investor re-education about new norms

User interest in peer-to-peer (P2P) lending platforms may be picking up pace, even as players initially feared major business disruption following the Reserve Bank of India’s (RBI’s) revised guidelines for such companies in August. 

 

P2P non-banking financial company (NBFC) lending platforms provide an online marketplace for participants in P2P lending, which includes individual lenders and borrowers. Individuals can view details about borrowers before lending them capital.

 

Companies noted that they are conducting pilots or have completed the implementation of the T+1 guideline ahead of the November 14 deadline, which mandates firms to clear funds in escrow accounts within one day.