RBI seeks loan data from P2P firms
Business Standard|October 05, 2024
Norms tightened after flagging regulatory violations by some lending platforms
AJINKYA KAWALE & SUBRATA PANDA
RBI seeks loan data from P2P firms

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.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the October 05, 2024 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS STANDARDView All
The Maverick Who Founded HBO
Business Standard

The Maverick Who Founded HBO

Charles Dolan, the pay-television pioneer who won the first cable-TV franchise in Manhattan, founded Home Box Office Inc. and later built Cablevision Systems Corp into the fifth-largest US cable company, has died. He was 98.

time-read
2 mins  |
December 30, 2024
Antarctica, North Pole: India's elderly take to extreme travels
Business Standard

Antarctica, North Pole: India's elderly take to extreme travels

Travel among India's senior citizens has evolved over the years with tour agencies observing a rise in demand, especially post-pandemic for adventure and non-traditional international destinations.

time-read
2 mins  |
December 30, 2024
Business Standard

Auction of 11 critical mineral blocks called off

The central government has annulled the auction of over half of the 21 critical mineral blocks offered in the fourth round of bidding, citing a poor response, according to a notification from the Ministry of Mines on the MSTC e-commerce portal.

time-read
1 min  |
December 30, 2024
Navi Mumbai Airport Set To Begin Commercial Ops In May 2025: AAHL
Business Standard

Navi Mumbai Airport Set To Begin Commercial Ops In May 2025: AAHL

International operations to start by July next year; project expected to cost around ₹18,000 crore

time-read
2 mins  |
December 30, 2024
Manmohan Singh's economic reforms of the 1990s
Business Standard

Manmohan Singh's economic reforms of the 1990s

The acclaimed \"architect of India's economic reforms\" has gone, mourned by people across political parties and professions, not just economists, civil servants, and journalists.

time-read
3 mins  |
December 30, 2024
First Mover Mantra
Business Standard

First Mover Mantra

Why EV leader Tata Motors is thirsting for more competition despite losing market share

time-read
4 mins  |
December 30, 2024
Build debt fund portfolio diversified across duration
Business Standard

Build debt fund portfolio diversified across duration

Take limited exposure to longer-duration funds in coming year

time-read
3 mins  |
December 30, 2024
Rely on rolling returns, not point-to-point data
Business Standard

Rely on rolling returns, not point-to-point data

\"Financial planning experts often argue that equity markets outperform fixed deposits over the long term. However, I can demonstrate that a 10-year investment in fixed deposits has delivered higher returns than equity markets,\" declared my friend Mitesh.

time-read
2 mins  |
December 30, 2024
Markets Will Likely Take Cue From the Budget
Business Standard

Markets Will Likely Take Cue From the Budget

The 2024-25 (FY25) October-December (Q3) quarter earnings are expected to mirror those of the second quarter (Q2), with key sectors grappling with a demand slowdown. The government's approach to the economic downturn and its priorities will become evident in the upcoming Budget, says JIMEET MODI, founder and chief executive officer of Samco Group. In an interview with Sundar Sethuraman, Modi suggests domestic markets will likely stay volatile in calendar year (CY) 2025, influenced by developments in the US markets, inflation concerns, recession risks, and interest rate decisions. Edited excerpts:

time-read
2 mins  |
December 30, 2024
Gold, silver ETFs: Alchemists spinning wealth in 2024
Business Standard

Gold, silver ETFs: Alchemists spinning wealth in 2024

Where investors find philosopher's stone, with ₹19,000 crore inflow in first 11 months of 2024

time-read
2 mins  |
December 30, 2024