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13/09/2017 02:57pm

RBI waiting for govt notification to come out with P2P lending guidelines: RBI ED

image RBI waiting for govt notification to come out with P2P lending guidelines: RBI ED

Mumbai, Sept 13 (KNN) The Reserve Bank of India (RBI) will soon come up with guidelines on peer to peer lending for which the apex bank is waiting for a gazette notification from the government on getting the peer-to-peer lenders under its regulatory ambit, a Senior RBI Official reportedly said.

"Following up on the consultation paper we did last year, we are shortly going to come up with guidelines on peer to peer lending," RBI's executive director Sudarshan Sen said at an industry event here, according to a media report.

The consultation paper on p-2-p lending was released by RBI in April last year, but the final guidelines are yet to come.

Sen said a notification from the government is the missing part which is preventing the RBI from releasing the final guidelines.

"First, we need the government to notify p-2-p platforms as an entity to be regulated by RBI. That requires a gazette notification. Once that happens, we come out with regulation," he said.

Sen added that the legislative change for the same has already come in and it is only a gazette notification that is required.

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