Consider the following statements about Peer to Peer lending P2P 1 P2P lending platforms are treated...........

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Consider the following statements about Peer to Peer lending (P2P)

1.P2P lending platforms are treated as Non-Banking Financial Companies.

2.It is regulated by Securities and Exchange Board of India.

3.It is a form of crowd-funding used to raise loans which are paid back with interest.

Which of the statements given above are correct?

1 and 2 only

2 and 3 only

1 and 3 only

All of the above

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Explanation:

1 and 3 only

The statement "P2P lending platforms are treated as Non-Banking Financial Companies" is correct. P2P lending platforms are categorized as Non-Banking Financial Companies-Peer to Peer Lending Platforms (NBFC-P2P) in India. They are regulated by the Reserve Bank of India (RBI).

The statement "It is regulated by Securities and Exchange Board of India" is incorrect. P2P lending platforms are regulated by the Reserve Bank of India (RBI), not the Securities and Exchange Board of India (SEBI).

The statement "It is a form of crowd-funding used to raise loans which are paid back with interest" is correct. P2P lending is a form of online lending that connects individual borrowers with individual lenders, allowing individuals to borrow and lend money directly without the need for traditional financial institutions.

Therefore, the correct answer is 3 - 1 and 3 only.