Are the P2P lending platforms for you?
Peer-to-peer format is not regulated in India. This is its biggest drawback, and the biggest risk
Are you facing trouble in getting loans from formal financial institutions, be it from banks or non-banking financial companies (NBFCs)? The reasons could vary from lack of credit information to delay in the process of getting a loan. According to a report by international philanthropic investment firm Omidyar Network, Big Data, Small Credit—The Digital Revolution and Its Impact on Emerging Market Consumers, in India, more than 400 million people borrowed money in 2014, but fewer than one in seven were approved for a formal loan.