The Finance Industry Development Council (FIDC) says it is “very much possible” that DSA who have been providing loan facilitation (offline) services to retail and corporate borrowers, from banks and NBFCs (with whom they have signed a written contract) for the past many years, may also fall under the radar of RBI’s P2P regulatory framework as NBFCs.

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 P2P Lending Law in India: DSA may come under RBI regulatory Radar as NBFC

The apprehension is that DSA (only if they are corporates) may also be defined as NBFC and subjected to regulation by RBI. This would then require such DSA to have a minimum capital of ₹2 crore, adhere to KYC norms, anti-money laundering norms etc.


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