The Master Directions – Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 bearing No. DNBR (PD) 090/03.10.124/2017-18 dated October 4, 2017 as updated on February 23, 2018 (““Master Directions”), issued by the Reserve Bank of India (“RBI”) requires every Non-Banking Financial Company – Peer to Peer Lending Platform (“NBFC – P2P”) to implement a pricing structure policy approved by its Board of Directors.
Rang De P2P Financial Services Private Limited (“Company”), being a peer to peer lending platform registered with the RBI as a NBFC-P2P, is required to implement such a policy in adherence with the Master Directions of the RBI.
Accordingly, the Board of Directors have, in their meeting held on 7th March, 2021, approved this revised pricing structure policy (“Policy”). The Policy has been created in line with the Master Directions and shall be reviewed by the Board of Directors periodically to ensure continued adherence with all directions issued by the RBI, from time to time.
Scope and Application:
The Policy shall apply to the pricing structure of the products and services of the Company.
The Policy shall be applicable with effect from the date of its approval by the Board. (“Effective Date”).
Objectives of the Policy:
The main objective of this Policy is to lay down criteria for charging fees, and any other additional charges from the Participants on the Platform.
“Company” shall refer to “Rang De P2P Financial Services Private Limited”;
“Effective Date” shall mean the date stated in Clause 2.2.
“Participant” shall refer to a lender or a borrower on the Platform, as the context may require;
Pricing Mechanism For Services Offered On The Platform payable by the Participants:
Subscription and Optional Fees by Lender
A fee as given below is applicable to lenders that have registered on the Platform which would not be mandatory.
Optional Annual subscription Plan: INR 999/- per year
Optional Platform Fee : Upto 2% of amount invested
Interest by Borrower
The interest paid by the borrower would be dependent upon the loan product viz a viz purpose , tenure and comparative prevalant rates and comprise of the Lender’s share, the Impact Partner’s share (where applicable) & Rang De’s share(where applicable)
The interest rate split between the Lender,Impact Partner & Rang De shall normally be in the ratio of 4:4:2, that essentially converts the lender's share and impact partner's share each to 40% and Rang De's share to 20% of the total interest earned. For certain loan products the Partner and or Rang De may not charge any share and 100% of the interest shall be paid to the Social Investor only.