The peer-to-peer (P2P) lending industry association has requested that the Reserve Bank of India (RBI) reconsider its mandate requiring funds in escrow accounts to be cleared within one day (T+1). In the absence of regulatory relief, industry players have indicated they will absorb the additional costs associated with the T+1 timeline for now. However, there are concerns that platforms with limited capital may struggle to survive under these conditions, potentially jeopardising the already fragile industry.
“We have fairly high hopes that the T+1 reversal will happen. We are simply asking not to have to do micro-transactions. If
