finpeel Answers · India · updated 2026-08-14
Yes, if the marketplace falls within RBI’s peer-to-peer lending platform definition and carries on that business. A platform cannot avoid NBFC-P2P regulation simply by describing itself as a marketplace.
The model should be checked for who the lenders are, who the borrowers are, whether the platform intermediates loans and whether it takes balance-sheet credit risk.
A lead-generation site or LSP for a regulated lender can be a different model, but the substance of the lending marketplace decides the classification.
Regulator: Reserve Bank of India (RBI)
Primary sources: RBI — NBFC Peer to Peer Lending Platform Directions
Directional — not legal advice. Verify with the regulator before committing.
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