Peer-to-peer (P2P) lending is a debt financing method between a lender and a borrower, without an intermediary such as a financial institution.
The lending method, however, involves more risk and effort than borrowing from a bank.
P2P lending mostly offers loans from individual investors, who are willing to offer their money on an agreed interest rate. Individuals who like to avail loans, where they are not charged with higher interest rates or will face hurdles in availing loans from banks due to poor credit history, go for peer-to-peer lending.
Here's what P2P lenders expect from the interim Budget on February 1:
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