RBI’s crackdown on P2P lending casts a cloud over MobiKwik’s IPO plans

/ Compliance, digital payments, Financial Services, Fintech, Gurugram, investor protection, IPO, Lendbox, lending regulations, MobiKwik, MobiKwik Xtra, P2P Lending, peer to peer, RBI, Reserve Bank of India, withdrawal restrictions

As investors in MobiKwik’s P2P lending scheme cry foul over the handling of an RBI rule change, uncertainty looms over the fintech company’s lending business—its strongest growth driver. Many users of a lending scheme offered by MobiKwik are rattled. The Gurugram-headquartered digital payments company, which earlier allowed “anytime withdrawals”, seems to have locked in their investments after the central bank changed a key rule.

Published by: The Morning Context
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