Peer-to-Peer Lending in India is a shift from traditional loaning process that happen with banks and financial institute. It is a modern-set money transacting procedure between lenders (individuals, entities) and borrowers. The P2P models aims at flourishing monetary returns for lenders, as well as meet economic requirements for the borrowers, in an easier and quicker way, funding within no-time.
A person who needs unsecured personal loan can get so from individuals or entities, instead of banks. This transaction system follows certain guidelines, and is done between people. The service model is known as peer-to-peer lending (in case of lending an amount) or borrowing (in case of taking a loan). Peers can directly contact each other online on p2p.loanbaba.com for lending or borrowing money.