The Reserve Bank of India (RBI) on Thursday proposed registering peer-to-peer (P2P) lending platforms as non-banking finance companies (NBFCs) so as to bring them under the purview of its regulations.

An RBI consultation paper suggested a minimum capital of Rs 2 crore as part of the prudential requirements. It barred such entities from promising extraordinary returns, besides suggesting that it could cap the maximum contribution by a lender to a borrower or a segment of activity.

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