Peer to Peer (P2P) lending, also known as social lending/cloud lending is a method to finance debt which enables individuals to lend and borrow money without the involvement of an official financial institution as an intermediary. Basically, it eliminates the need of middlemen involved in the process but is time-consuming. In P2P lending, lenders are free to choose whom to lend and can diversify their options among different borrowers.

 

Eligibility Criteria for Peer to Peer Lending Registration

  • Should be incorporated in India
  • Has necessary technological,entrepreneurial and managerial resources
  • Has adequate capital structure to carry the business
  • Directors are fit and proper
  • Has a plan submitted/implemented for efficient Information Technology System
  • Submitted viable business plan
  • Serve Public Interest by the grant of CoR