Mumbai: Bad loans in the peer-to-peer lending industry have more than doubled in financial year 2024 to Rs 1,163 crore from Rs 472.1 crore in FY23, a 146 per cent rise. According to an RTI response to Capitalmind Financial Services by the Reserve Bank of India, bad loans in P2P lending touched Rs 1,163 crore at the end of the …
Vishal Goenka, Co-Founder of IndiaBonds.com believes that the Fed will be in a long pause mode now and the long-end interest rates will be in a 4.50-5 per cent range. In an interview with Mint, Goenka said with the advent of regulated Online Bond Platform Providers, investors now have a wide choice of fixed-income investments. With the advent of regulated …
Earlier this month, Fi, a neobank announced that it would offer P2P lending to its customers with returns of up to 9%. P2P, or peer-to-peer, lending involves a digital platform aggregating borrowers and lenders, essentially performing the role of a bank. View Full Image Mint How it works P2P loans are personal loans and they generally fetch an interest rate …
In last year’s Budget, the finance minister announced pillars on which the proposals would be based – creating financial capital, improving human capital, kickstarting innovation and R&D, etc., to name a few. Since the Reserve Bank of India has created a new department to regulate and oversee fintech companies, there’s a good possibility that the government will emphasize the sector …
The higher the risk, the higher the return. That’s what the new-age Indian fintech startups liek Cred and BharatPe are aiming to do with their recently launched P2P lending products. The unsecured nature of the loan is the reason for high interest rates Cred mitigates the possibility of a default by lending only to customers who have been using its …
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