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Economy

RBI caps lending on P2P platforms at Rs 50 lakh

Updated : December 24, 2019 06:14 AM IST

The lender investing more than Rs 10 lakh across P2P platforms will produce a certificate to P2P platforms from a practicing CA
The transfer of funds under P2P lending happens through an escrow account mechanism, which is operated by a bank promoted trustee
RBI caps lending on P2P platforms at Rs 50 lakh
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