Thursday, October 01, 2015

Is Peer-to-Peer lending too futuristic in India? - Moneylife

Is Peer-to-Peer lending too futuristic in India? - Moneylife: "In India, the traditional sources of funding are well established. Banks and financial institutions in India have been largely responsible for making available credit in the economy. This apart, where conventional sources of funding have not been available the needs of the financially excluded have been catered to through community-based financing, chit funds, co-operative societies advancing loans to its members and so on. The sourcing of funds at the granular level to bring about financial inclusion has been sporadic and disorganized and hence at small scale. All these sources of funding, conventional or otherwise, over the years have had a limitation of physical interface. "

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