{"id":158534,"date":"2017-09-21T16:34:39","date_gmt":"2017-09-21T11:04:39","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=158534"},"modified":"2017-09-21T16:34:39","modified_gmt":"2017-09-21T11:04:39","slug":"rbi-classifies-p2p-lending-firms-as-nbfcs","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/09\/21\/rbi-classifies-p2p-lending-firms-as-nbfcs\/","title":{"rendered":"RBI classifies P2P lending firms as NBFCs"},"content":{"rendered":"<p style=\"text-align: center;\"><strong>NOTIFICATION<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>No. DNBR. 045\/CGM (CDS)-2017.\u2014<\/strong>The Reserve Bank of India, on being satisfied that it is necessary to do so, in exercise of the powers conferred on it by sub-clause (iii) of clause (f) of Section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934) with the prior approval of the Central Government, hereby, specifies a non-banking institution that carries on \u2018the business of a peer to peer lending platform\u2019 to be a Non-Banking Financial Company.<\/p>\n<p style=\"text-align: justify;\">For the purpose of this notification, the term \u201cthe business of a peer to peer lending platform\u201d shall mean the business of providing under a contract, the service of loan facilitation, via online medium or otherwise, to the participants who have entered into an arrangement with that platform to lend on it or to avail of loan facilitation services provided by it.<\/p>\n<p style=\"text-align: right;\">Reserve Bank of India<\/p>\n<p style=\"text-align: right;\">(Department of Non-Banking Regulation)<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>NOTIFICATION No. DNBR. 045\/CGM (CDS)-2017.\u2014The Reserve Bank of India, on being satisfied that it is necessary to do so, in exercise of <\/p>\n","protected":false},"author":91,"featured_media":108541,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[],"class_list":["post-158534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>RBI classifies P2P lending firms as NBFCs | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2017\/09\/21\/rbi-classifies-p2p-lending-firms-as-nbfcs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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