Peer-to-peer (P2P) banking has emerged as a transformative financial model, allowing people and businesses to receive and give money directly through online. This new way removes normal financial agents, such as banks, cutting costs for both customers and loans. To work properly in India, companies must receive a P2P loan license from the Reserve Bank of India (RBI), which serves as proof of registration for Non-Banking Financial Companies (NBFCs) interested in P2P banking activities.

Peer-to-peer (P2P) banking has emerged as a transformative financial model, allowing people and businesses to receive and give money directly through online. This new way removes normal financial agents, such as banks, cutting costs for both customers and loans. To work properly in India, companies must receive a P2P loan license from the Reserve Bank of India (RBI), which serves as proof of registration for Non-Banking Financial Companies (NBFCs) interested in P2P banking activities.