Lendbox gets NBFC-P2P licence from RBI (Reserve Bank Of India)
RBI Registered NBFC - P2P Lending Platform
Lendbox(corporate name:- Transactree Technologies Private Limited) is a RBI Registered NBFC(with COR number N.14-03462) P2P Lending Company that operates in compliance with guidelines issued by the RBI. In a recent landmark decision, RBI has increased the aggregate P2P exposure of a lender from ₹10 lakhs to ₹50 lakhs. Read more
We are excited to announce that Lendbox is now an RBI registered NBFC-P2P making us a fully authorized and regulated entity which can legally operate a P2P Lending Platform.
Started in 2015, Lendbox is one of the India's leading peer to peer lending platform with over 190,000 registered users. Getting the Certificate of Registration (CoR) from RBI further reinforces the trust that brand Lendbox carries amongst its borrowers and lenders.
What does NBFC-P2P mean?
NBFC-P2P is a new class of NBFC, for non-banking institutions which carry on the business of Peer to Peer Lending. In October 2017, Reserve Bank of India (RBI) released a set of guidelines to regulate the expanding peer to peer lending space in India.
P2P Lending, is the practice of borrowing and lending money through an online marketplace like Lendbox. We use technology to assess borrowers on more than 200 different data points and enable both borrowers and lenders to transact on mutually acceptable terms. At your discretion, you select the people you want to invest in or get a loan from.
At Lendbox, you have the power to choose your terms and enjoy complete transparency.
With NBFC-P2P licence, Lendbox, just like any other NBFC, comes under RBIs purview with regards to regulatory oversight. Lendbox will be now reporting all the delays and defaults by the borrowers on the platform to CIBIL and all other credit bureaus which will be a significant help in cutting down delays and defaults by the borrowers.RBI's guidelines for Peer to peer lending platforms
Interested in P2P Lending? Start with Lendbox