Some platforms have scaled back on their partnerships with large consumer-facing companies and witnessed a slowdown in growth.
The RBI has increased scrutiny of P2P lending platforms after they were said to have flouted guidelines by underplaying risks through promises of high or assured returns. The central bank has sought information about financials, onboarding process, customer profiles, agreements with lenders and IT systems.
"In my view, the growth has slowed down. The business itself has not de-grown. It is mostly about the market sentiment - there is some negativity, people are just skeptical about how things will move forward," co-founder of a P2P lending platform said.
The official said the industry is just adopting a 'wait and watch policy, instead of aggressively scaling up, as new partnerships require significant amount of time, technology bandwidth and legal bandwidth to get integrated.
Among leading P2P lenders, LenDen Club has partnerships with Karza, BharatPe, and Phone Pe, while Liquiloans has collaborations with BharatPe, Cred, Avail Finance, and Uni, among others.
Diese Geschichte stammt aus der March 12, 2024-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der March 12, 2024-Ausgabe von Financial Express Mumbai.
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