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  • Sat Mar 17 2018 13:47:29 GMT+0100 (CET)
  • BigWin Infotech forays into P2P lending business

    2017-12-28 08:22:53.0
    Sandeep Kumar

    Mumbai : BigWin Infotech, a Govt. recognized startup foraying into P2P lending and amongst the few ...

    BigWin Infotech forays into P2P lending business

    Mumbai : BigWin Infotech, a Govt. recognized startup foraying into P2P lending and amongst the few who have applied for an NBFC-P2P license after RBI's revised guidelines. BigWin Infotech expects to start its operations through their solely owned market place called PaisaDukan.com from Jan 2018 and aiming to capture a significant market share.
    Mr. Rajiv M Ranjan founder of Bigwin Infotech, a top-notch IT professional who has held premier positions in several reputed organizations like Bank of America, Infosys and Welspun Group. Rajiv has collaborated with Ambar Kasliwal, a reputed CA in Mumbai to enter into the NBFC-P2P lending business.
    P2P lending was introduced in India about two years ago, and it has since emerged as a credible financing option for people who are looking for alternate way to financial loans other than banking institutions. As per the latest RBI regulations which were released on 4th October 2017, RBI gave P2P lending platform operators a NBFC (non-banking financial company) status and released a list of guidelines and directions for P2P firms, thus bringing them under the domain of legitimacy with a clear set of regulations such as a process of registration, disclosure requirements and grievance redressal mechanism.
    This is a techno grad – CA Association. Rajiv is a leading technological professional having a track record of more than 18 years of leveraging technology based solutions to drive business value. He has executed multi-million dollar projects for companies like Bank of America N.A., Infosys, Blue Star and Welspun. Ambar Kasliwal is a practicing CA having an industry experience of more than 15 years, having advised over 60 top companies and has also worked closely with Govt. organizations in Mumbai whilst advising several firms on setting up their off shore business.
    Rajiv M Ranjan, Founder and Managing Director, PaisaDukan.com, explained that many people find it difficult to borrow a loan from banking institutions for various reasons like income criteria or risk profile. "Our mission is to provide our clients with the finest financial platform to create a smart way of lending & borrowing money. This means setting the highest standards for transparency and behaviors, which constitute our business principles." he said.
    "We are not limited to basic lending operations, we will also explore expanding our services into certain areas which financing institutions don't foray into. For example, we will provide loans for functions like coaching classes for a student, which costs them lakhs of rupees. Our services are mainly accessed by consumers who find it difficult to secure a loan from a bank or other financial institutions", added Mr. Ranjan.
    Ambar Kasliwal, Founder & Director of PaisaDukan.com said "The P2P lending space has been gaining traction, even small and micro enterprises have also been reaching out to P2P lenders to access credit. This might be because of a slump in the economic activity or because banks have reduced lending to the SME space" said Kasliwal. "To excel in providing every Indian a robust and transparent technology platform to meet their life goal and achieve financial freedom" added Mr. Kasliwal.

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