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RBI's ban on DLG for P2P platforms reshapes industry operations, impacting prominent startups. Regulator's actions aim to bolster governance but may raise customer acquisition costs and deter investors due to increased risks.
Happy Wednesday! After the central bank's action on IIFL Finance, concerns have been raised over gold loan evaluation by fintechs and their partner banks. This and more in todays ETtech Morning Dispatch.
The central bank has said peer-to-peer lending platforms cannot offer any default loss guarantee (DLG) to investors, as it furthers scrutiny on the digital lending sector.
Razorpay will seek clearance from the National Company Law Tribunal (NCLT) in the next two months to merge its American holding company with its India unit. It would then also officially appoint an auditor for the valuation discussions.