Fund Transfer Mechanism under NBFC- P2P

Fund Transfer Mechanism under NBFC- P2P

Store exchange between the members on the Peer to Peer Lending Platform should be through escrow account components which will be worked by a trustee. No less than two escrow accounts, one for stores got from moneylenders and pending disbursal, and the other for accumulations from borrowers, should be kept up. The trustee should required be advanced by the bank keeping up the escrow accounts. All reserve exchanges might be through and from ledgers and money exchange is entirely disallowed. The instrument as depicted in the Annex-I might be 

 


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