Additionally, we also expect the government should think of new ways to boost sectors like P2P lending. Eg.- Enable tax exemption for the lenders on P2P lending platforms, under section 80C. This will result in raising the trust bar and credibility, leading to more and more people investing in such platforms. It will also bring in a good enough capital infusion in the P2P lending space.
Lastly, the legal structure can be more stringent towards defaulted borrowers in the entire financial system, so as to reduce this number in the long run.
Bhavin Patel, Founder & CEO, LenDenClub