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Informative

While P2P lending firms panic over RBI's crackdown, this NBFC-P2P sees a silver lining

Update / Judgement Date

25 Sept 2024

Source

YourStory

Author

Team — WCP Legal Desk

Reading Time

1 min read

Corporate ComplianceFinancial ManagementRBI

The RBI has taken action against NBFC LendenClub for non-compliance with regulatory norms in the P2P lending sector. The crackdown highlights the importance of adhering to regulatory standards to ensure the integrity and stability of the financial system. LendenClub has been directed to address the identified issues and align its operations with the prescribed guidelines. This move underscores the RBI's commitment to maintaining a robust regulatory framework for the P2P lending industry.