The peer-to-peer (P2P) lending industry has approached the Reserve Bank of India (RBI) seeking clarity on regulations concerning secondary market participation for investors. The Association for P2P Lending Platforms has formally requested an update on the sectoral guidelines from the regulator.
The P2P lending sector has faced challenges scaling up due to stringent regulatory guidelines. Over the past year, the RBI has intensified scrutiny, impacting partnership models of P2P startups and halting instant liquidity products. Industry insiders express that without clear regulations on secondary market participation and reinvestment of proceeds, the sector’s growth will remain constrained.
The association has highlighted several key issues in its request, including access to secondary market operations. Secondary market access is deemed crucial for retail lenders, and the existing regulations are expected to support this. However, the industry awaits definitive regulatory clarity.
The P2P industry, which needs to attract both investors and borrowers, has struggled with high costs and challenges. Despite being regulated for over seven years, the industry’s assets under management (AUM) stand at approximately INR 10,000 crore. Enhanced liquidity options and features could help position P2P lending as a viable wealth management tool for affluent Indians.
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