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P2P Platforms to Put Downward Pressure on Interest Rates: Faircent CEO Rajat Gandhi
October 24, 2017
The guidelines released by the Reserve Bank of India for the Peer to Peer (P2P) lending companies will help both consumers and the lenders, Rajat Gandhi, CEO of P2P platform Faircent said.
Gandhi, who recently gave an interview to a leading news portal, said that the RBI guidelines bring clarity to the lenders as to what to expect. This is because their investments are not entirely protected but they falsely think there are assured returns.
Gandhi also said that P2P model has the potential to open the credit market. As the people have started lending to each other, the interest rates are also likely to come down.
