With the Reserve Bank of India (RBI) expected to come out with final guidelines on peer-to-peer (P2P) lending soon, the market for online lending and borrowing for thrift credit is gradually expanding.
India is now acknowledged as a country of global importance beyond its history and sheer size of population, as an economic power, says Onno Ruhl, who completes his four-year term as the World Bank’s country director in India. In an interview to ET’s Deepshikha Sikarwar and Vinay Pandey, he says climbing into top 50 will take some time but can be done.
IDFC Bank, the newest lender in the country, is looking at an aggressive campaign to get individual depositors and lenders.
The Reserve Bank of India (RBI) is expected to issue the final guidelines for peer to peer (P2P) lending in the next few days. It is expected to concede to lending firms’ suggestion for a nodal agency.