P2P Lending Flashcards
1
Q
What is p2p lending
A
It is a type of lending operations b/w borrowers and lenders in absence of a Financial intermediary or Banks.
2
Q
WHo can borrow
A
Individuals or companies.
3
Q
what is the working principal
A
Crowd Funding
4
Q
What is the task of p2p firm
A
Basically it will be a online platform for borrowing and lending. It will perform task to check worthiness of borrower and loan collections
5
Q
Who will set intrest rae
A
p2p firms or buyers and sellers
6
Q
WHat is the take by RBI
A
RBI want to try it by allowing existing offline players to start the p2p firms and will be registered under companies act.Later it will extend to society and all.
