Current Affairs - Business - Discussion

Reserve Bank of India (RBI) granted NBFC - P2P (Non-Banking Financial Company - Peer to Peer) Certificate to IndiaMoneyMart and this certification will enable IndiaMoneyMart to expand operations and target loan disbursals worth INR 100 Crore by the end of financial year 2018-19. The step will validates IndiaMoneyMart's strong framework to make lending and borrowing transparent, digital and convenient in confrontation to the regulatory requirement. IndiaMoneyMart is offering loans starting from Rs. 10 thousand to Rs 10 Lakhs for a tenure ranging between 3 months to 36 months.