RBI caps aggregate exposure limit for lending on P2P platforms at Rs 50 lakh

The lender investing more than Rs 10 lakh across P2P platforms has to produce a certificate to P2P platforms from a practising Chartered Accountant certifying minimum net-worth of Rs 50 lakh.
The central bank also stated that the "Escrow accounts" to be operated by bank promoted trustee for transfer of funds need not be mandatorily maintained with the bank which has promoted the trustee. It also mandates that all the transactions through bank accounts, and cash transaction are strictly prohibited.
An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties. This is a temporary account as it operates until the completion of a transaction process, which is implemented after all the conditions between the buyer and the seller are settled.
The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
Shaktikanta Das is the 25th Governor of RBI.