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Here’s how we found P2P lending is broken in India and needs fixing

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If you want a loan without having to deal with the hassle of a bank, your best bet is to use a P2P (peer-to-peer) lending startup. There, you can connect with individuals who want to lend you money so they can earn off the interest you pay.

It’s a business model that’s been gaining interest in India. According to the Reserve Bank of India (RBI), twenty P2P lenders entered the scene last year, bringing the country’s grand total to thirty.

The excitement is with reason: this is the first time that millions of Indians without financial histories have the opportunity to take out loans.

For more on this story visit the following link: Here’s how we found P2P lending is broken in India and needs fixing

Source: TechinAsia

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