Online Lending Platforms: Disrupting Traditional NBFCs

In the recent past, a host of online lending platforms have been launched. These platforms are providing even greater access to financing for people who do not fulfill the eligibility criteria to raise debt from traditional banking channels. In this article, we provide a brief overview of what these platforms are and how they are disrupting the traditional non-banking financial sector, especially with the recent RBI notification by which online lending platforms will be considered NBFCs.