hello,
we ( registered financial pvt ltd only with MCA non NBFC) are interested developing a product ( via website and begining within my inner circle) peer (person)-to-peer (person) lending —which can be a popular alternative to traditional loans and investing options. We cut out the middleman to connect people who need money with those who have money to invest...so everyone prospers! Here's how it works: Borrowers choose a loan amount, purpose and post a loan listing. Investors review loan listings and invest in listings that meet their criteria.
Once the process is complete, borrowers make fixed monthly payments and investors receive a portion of those payments directly to their Prosper account. I was searching for this concept in india law, and i wass not able to find any information. Can you please let me know can we do this without having any permissions form RBI or any other govt permissions, or we sincerally appreciate your feedback on procedural implementation of this concept.
thanks
Sree
CAclubindia
