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Get licensed to start a P2P Lending Platform

P2P lending or Peer-to-Peer Lending is a unique approach to lending where the borrower and the lender are in direct contact of each other without a middlemen being involved. Borrowers can finance small (or large) projects and lenders can earn passive income through this form of Crowd funding. However, establishing the platform entails getting the permission from Reserve Bank of India. That’s where Registrationwala comes in to make the process easy, affordable and streamlined for you.

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P2P Lending License

Step 1
Incorporation of the company
Step 2
Drafting of documents
Step 3
Application filing
Step 4
Submission of application to RBI
Step 5
Analysis of applicant by RBI
Step 6
Grant of P2P Lending license

P2P Lending License in India

P2P Lending license in India is the Certificate of Registration (CoR) given to NBFCs to start a P2P Landing platform. The CoR is part of the directions issued in NBFC- Peer to Peer Landing Platform Rules, 2017. As per the directions, once the applicant NBFC has obtained the certificate, it starts to be known as an NBFC-P2P Lending platform

P2P Lending is a modern form of crowd-funding in which lenders and buyers are in direct contact with each other, with no middleman involved. It’s a tech-driven money lending and money borrowing platform that brings enthusiastic lenders and needful borrowers in a single place.

Borrowers can get interest rates tailored as per their creditworthiness which is analyzed at the time borrower registration. Lenders can earn interest rates that are reasonable to the borrowers but higher than what the banks provide.  

However, setting up the platform is not an easy ordeal. If you wish to start such a platform, you need approval from the Reserve bank of India in the form of P2P Lending registration.

That’s where Registrationwala comes in to make the process easy, affordable and streamlined for you.

Eligibility criteria to obtain P2P Lending License in India

  • The applicant should be registered as a company under Companies Act 1956
  • The applicant company should be incorporated as an NBFC.
  • Minimum net owned funds of the applicant should be at least INR 2 Crores
  • The applicant company must have the necessary entreprenuerial, technological and managerial resources necessary to provide p2p lending services. 
  • The promoters and directors of the company must meet the Fit and Proper criteria
  • The applicant should possess a website to act as a P2P platform.
  • The general character of the company's management should not be discriminate against the public interest. 
  • The applicant company must have implemented a robust information technology system

 

Documents Required to obtain P2P Lending License in India

  • Certificate of incorporation
  • Memorandum of Association
  • Articles of Association
  • Audited Balance Sheet of the company
  • Net Worth Certificate of the Company
  • Feasible business plan
  • Declaration that directors adhere to the “Fit and Proper” Criteria
  • Website source code

Process to obtain P2P Lending License in India

·         Incorporation of the company

·         Drafting of documents

·         Application filing

·         Submission of application to RBI

·         Analysis of applicant by RBI

·         Grant of P2P Lending license

Registrationwala's assistance to help you get P2P Lending License in India

·         Documentation

·         Application filing

·         Department follow up

If you’re looking for precise services pertaining to P2P license in India, be sure to reach out to us.

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