i2ifunding applies for Certificate of Registration of P2P-NBFC with RBI

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Set to initiate massive expansion post registration

New Delhi, January 11, 2018: Under the Master Directions issued by RBI for Non-Banking Financial Company – Peer to Peer Lending Platform, 2017, i2ifunding (RNVP Technology Pvt Ltd.)The company has applied for the Certificate of Registration (CoR) to operate as non-banking financial company (NBFC) – Peer to Peer Lending. The NBFC-P2P registration will strengthen the credibility of i2ifunding.com as a serious player.

In its recent guidelines, RBI has made it mandatory for all the P2P lending companies to apply for CoR of NBFC-P2P to bring in transparency in the sector and safeguard investor’s interest. New guidelines will boost the trustworthiness of P2P industry by retaining only the serious players. The sector will thus attract many more borrowers and lenders going forward.

Speaking on the application, Mr. Raghavendra Pratap Singh, Co-Founder, i2ifunding said, “We are delighted and excited to be part of formal financial sector under RBI Guidelines. Filing of CoR for NBFC-P2P is the first step towards achieving the same.  Till now, P2P Lending been an unregulated sector; credibility was thus an issue with stakeholders. Despite all the challenges, the industry was growing at a healthy rate, even without major investments. Registering as NBFC-P2P will give credibility to the P2P companies and in still trust and confidence in the investors, leading to enormous growth of trusted players. NBFC-P2P will eliminate fly-by night operators and make way for only committed players. We have been successfully running P2P lending business in India for past 2 years and we are poised to grow our business at fast pace.”

“i2ifunding meets most of the guidelines issued by RBI and will be complying with all the norms within next 2-3 months. Post getting NBFC-P2P license, we are planning to expand our reach across the country instead of focusing only in metro cities. The license will also allow us to offer more disruptive financial products to our clients helping them diversify their portfolios. We also plan to introduce innovative products for our borrowers,” he added.

“We have always valued and protected the interest of our lenders and borrowers and with NBFC-P2P certification, our trust and credibility will be strengthened. We also expect that unscrupulous players, denting P2P confidence will be weeded out and the industry will become an important option for debt across individuals and organizations,” he added further.

i2iFunding.com currently has more than 50,000 registrations from borrowers and lenders. The company has around 3000 active investors, and have disbursed more than Rs. 8 Cr still date. In the next couple of years, the company aims to disburse at least INR 15-20 Cr rupees every month with overall loan book of more than INR 200 Cr.

Corporate Comm India(CCI Newswire)

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