RBI
The RBI has updated the Non-Banking Finance Company (NBFC) – Peer to Peer Lending Platform Directions, 2017; to clarify and modify certain provisions. Under the revised norms, NBFC-P2Ps are restricted from cross-selling any products except loan-specific insurance. They are also prohibited from offering insurance products that serve as credit enhancement or credit guarantees.
[ RBI Circular RBI/2024-25/63 dated 16th August 2024]
