Faircent.com, a P2P lender, said it has received NBFC-P2P certification from the Reserve Bank of India. It will be the first P2P lending platform in the country to receive the certificate of registration as an NBFC-P2P from the regulator. It hopes the certification will help it gain more traction in both the mainstream financial market and strengthen confidence among borrowers and investors. The firm’s CEO Rajat Gandhi said as the largest P2P lending platform in the country and a pioneering presence in the domain, the company has played a pivotal role in helping the Indian online P2P lending sector gain regulatory recognition. Faircent.com claims it has more than 40,000 registered lenders, 3.5 lakh registered borrowers and has facilitated over 6,000 loans cumulatively.
