Warm Regards,
Hemen Parekh
(M)=91 – 98,67,55,08,08
From: MAHESH GUPTA
[mailto:chanakyagupt@gmail.com]
Sent: Saturday, April 30, 2016 9:42 AM
To: Hemen Parekh
Subject: Re: P2P LENDING REGULATIONS
Sent: Saturday, April 30, 2016 9:42 AM
To: Hemen Parekh
Subject: Re: P2P LENDING REGULATIONS
Pl DND me, delete my mail id
Thx
Zee News
Sent from my iPhone
Sent from my iPhone
PS
:
#
Globally , loan default rate for P2P platforms is under 1 %
#
My suggestion ( to enable FDII ) has the potential to bring back those
$ 501 billion that Indians have secretly stashed abroad ! No rocket
science here !
#
FDII will raise that number of Self Employed , enormously
#
FDII will turn India into a " Low Cost Economy " , thereby boosting
exports and taking GDP beyond 10 %
Warm Regards,
Hemen Parekh
(M)=91 – 98,67,55,08,08
From: Hemen Parekh
[mailto:hcp@recruitguru.com]
Sent: Saturday, April 30, 2016 8:23 AM
To: Hemen Parekh; shaktikanta.das@nic.in; narendramodi1234@gmail.com
Cc: Hasmukh Adhia; ajaitley@del5.vsnl.net.in; jayant.sinha19@sansad.nic.in; piyush.goyal@gov.in; nitin.gadkari@nic.in; spprabhu1@rediffmail.com; kalraj@kalrajmishra.com; bandaru@sansad.nic.in; amitabh.kant@nic.in; smritizirani@nic.in; nsitharaman@nic.in; nandan@nandannilekani.in; viral@juliacomputing.com; Editors; L T Story; Loksabha1; Loksabha2; Rajyasabha; TV Anchors; ceo-niti@gov.in; secy-ipp@nic.in; mcitoffice@gov.in; ravis@sansad.nic.in; sureshprabhu@irctc.co.in; prakash.j@sansad.nic.in; Business Leader
Subject: P2P LENDING REGULATIONS
Sent: Saturday, April 30, 2016 8:23 AM
To: Hemen Parekh; shaktikanta.das@nic.in; narendramodi1234@gmail.com
Cc: Hasmukh Adhia; ajaitley@del5.vsnl.net.in; jayant.sinha19@sansad.nic.in; piyush.goyal@gov.in; nitin.gadkari@nic.in; spprabhu1@rediffmail.com; kalraj@kalrajmishra.com; bandaru@sansad.nic.in; amitabh.kant@nic.in; smritizirani@nic.in; nsitharaman@nic.in; nandan@nandannilekani.in; viral@juliacomputing.com; Editors; L T Story; Loksabha1; Loksabha2; Rajyasabha; TV Anchors; ceo-niti@gov.in; secy-ipp@nic.in; mcitoffice@gov.in; ravis@sansad.nic.in; sureshprabhu@irctc.co.in; prakash.j@sansad.nic.in; Business Leader
Subject: P2P LENDING REGULATIONS
P2P Lending Regulations
Reserve
Bank Of India ( RBI ) just released a " Consultation Paper " on P2P
lending . Suggestions have to be submitted by 31 May
This
paper suggests some guidelines for regulation of this brand new industry ,
which boasts of some 30 online lending platforms , 20 of which , got launched
in 2015
Total
lending on these platform in last 2 years, approximates Rs 27 Crores
I
have no idea as to the number of lenders and number of borrowers
As
against this , the cumulative total loans taken by some 630,000 borrowers from
some 900,000 lenders in China , add up to Rs 11,000 Crore from 2600 , P2P
platforms !
I
had only a cursory glance at the RBI guidelines but could not find answers to
following questions :
*
Can " Companies " register on P2P
platforms as either Lenders or as Borrowers ?
I
suppose , RBI's answer would be " NO " - even if it is a
Peer-to-Peer transaction between two entities ( bypassing the regular middlemen
ie: Banks )
Would
that proscribe tiny " Start Up Companies
" to join P2P platforms ?
Somehow
, that does not sound right !
*
Can American / European / Japanese citizens
become lenders on Indian P2P platforms and lend money to Indian borrowers ?
Once
again , I am afraid , RBI will say , " Sorry , No ! "
Of
course , it is safe to say, " No " since RBI does not want P2P
phenomenon to " disrupt the existing banking channels "
Reason ?
Countries
of the world making up almost 56 % of World GDP , have 0 % - 1 % interest rates
! That covers America / Europe / Japan
In
some cases , there are NEGATIVE interest rates , meaning :
Instead
of earning an interest when you put your money in Fixed Deposit in those
Foreign banks , in these countries , banks will charge you a small fee to
" safe-keep " your money !
And
banks will pay YOU some small amount for taking out loans !
Given
this scenario , it is to be expected that rich citizens of these foreign
countries would just LOVE to become lenders ( to Indian borrowers ) and earn ,
even as low as 5 % interest , on Indian P2P platforms !
And
Indian borrowers would LOVE to take loans only from such FOREIGN lenders who
have very LOW expectations by way of interest !
Remember
that today , an Indian borrower would pay around 15 % by way of interest to an
Indian Bank for short term loans
As
against this , the " Average interest rates " on P2P platforms hover around
8.6 % globally
So
allowing Foreign individual citizens to register as lenders on Indian P2P
platforms , would result in a win-win situation for both !
Who
knows , the amount of foreign funds arriving into India through this route (
call it FDII - Foreign Direct Investments to Individuals ) , could even exceed
FDI !
Remember
that , in the past 15 months , total loans disbursed by Indian banks under
MUDRA yojana , add up to mere Rs 1.5 lakh*crore to some 5.75 crore "
Self Employed " who provide jobs to 12 cr persons !
FDII (through P2P platforms) can bring in 10 times
that amount in 1 year !
And
then , do our banks deserve any sympathy , with their Rs 7 lakh*crore of NPA , which
they want the tax-paying Indians to make good through re-capitalization ?
Is
it not about time when , if the Indian banks , could not / would not make
themselves obsolete , then someone else did ?
Hiding
their heads in the sand is not going to save them from the coming storm !
-------------------------------------------------------------------------------------
www.hemenparekh.in / blogs
30
April 2016
-----------------------------------------------------------------------------
hemen parekh
Marol , Mumbai , India
( M ) +91 - 98,67,55,08,08
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