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The NBFC had reported Rs 232 crore in operating revenue in its 2023 financial statement, but its FY24 filings now show revenue of Rs 109 crore for the same period.
In August last year, the Reserve Bank of India (RBI) tightened regulations on the peer-to-peer (P2P) lending sector, leading most platforms to halt operations.
More than a month after the RBI’s crackdown on peer-to-peer (P2P) lending, the Lendbox-MobiKwik partnership is showing cracks, with investors facing a lack of transparency.
After observing some peer-to-peer lending platforms violating the RBI's guidelines, the central bank has announced modifications to the master directions of NBFC-P2P.
