23 Ashad, Kathmandu – Nepal Rastra Bank has decided to conduct a study on operating a platform for person-to-person (peer-to-peer) credit lending transactions. The central bank announced through the upcoming fiscal year’s monetary policy that it will explore the feasibility and regulatory process for such lending operations.
The study on operating peer-to-peer transactions based on an individual credit scoring system is included in the forthcoming monetary policy. This platform will connect both parties seeking funds and those willing to lend money in one place. Lenders interested in providing loans can join and determine the amount they are willing to lend.
Similarly, borrowers can also participate on this platform to obtain the required amount for a specified period and interest rate. Both lenders and borrowers affiliated with the platform will undergo an evaluation of their credit history and financial behavior. This ensures that only qualified lenders and borrowers can participate in the system. Interest rates on loans will be set according to risk levels, with higher rates applied to borrowers with greater risks and lower rates for those with lower risk profiles.
