After flagging risks and tightening guidelines for peer-to-peer (P2P) lending platforms in August, the Reserve Bank of India (RBI) has requested specific loan disbursement data from these firms for the periods of April to June 2024, July 1 to August 16, and August 16 to September 30.
The RBI released revised guidelines for P2P lending platforms on August 16. Most platforms have provided this data to the regulator.
This development is considered 'out of turn,' as companies are typically required to submit quarterly data, including information on assets under management (AUM), outstanding loans, gross non-performing assets, and loan disbursals, sources said.
Additionally, the central bank has sought data on loans outstanding categorised by tenor as on September 30, as well as by interest rates charged for loans disbursed during the same period, according to sources familiar with the matter.
This story is from the October 05, 2024 edition of Business Standard.
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This story is from the October 05, 2024 edition of Business Standard.
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