Fintech start-up, BigWin Infotech (PaisaDukan.com) has received its Certificate of Registration (CoR) from the Reserve Bank of India (RBI), paving the way for the launch of its Financial Platform - PaisaDukan.com, a release from the company said today. Though the company received an in-principle approval from RBI to set up an NBFC Peer-to-Peer lending platform in May, the operations could only commence after the firm received a CoR from the central bank. The RBI issued those guidelines last October, to register and accredit P2P lending firms that resell loans from individuals who have money to invest. The platform facilitates loans for the duration of minimum 6 months, and in subsequent multiples of months of 12,18, 24 and 36 months, with 36 months being the maximum tenure. In terms of interest rates, APR (Annual Percentage Rate) ranges from 12%(min) to 24%(max). The company writes on its website that it will handle the servicing of loans on behalf of matched borrowers with investors and provide legal and recovery support, principal protection, as also evaluation of credit risk by a dedicated risk assessment team consisting of qualified CAs (Charted Accountants). In May, the Mumbai-based company announced that their platform is ready and that it is going to launch its marketplace PaisaDukan.com along with mobile app shortly. The company also announced that it has raised Rs 1.5 crore from a group of undisclosed angel investors to expand its workforce. BigWin now becomes the third lender to operate in the NFC-P2P space. In June, OMLP2P became the second P2P…
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