What is the primary function of peer-to-peer (P2P) lending platforms?

"Connecting borrowers and lenders directly, bypassing traditional financial institutions" "Providing financial advice and investment recommendations to users" "Facilitating cryptocurrency transactions and investments" "Offering insurance products and services to individuals and businesses"

What is one potential advantage of P2P lending for borrowers with poor credit scores?

"Guaranteed loan approval regardless of credit history" "Lower interest rates compared to traditional loans" "Access to funding that may be difficult to obtain through conventional channels" "Exemption from providing personal financial information"

What is a potential drawback of P2P lending for lenders?

"Limited investment options and low returns" "Guaranteed returns with no risk of loss" "Higher risk of default compared to traditional lending" "Strict regulatory oversight and limited investment flexibility"

Which regulatory body in India oversees P2P lending platforms?

"Securities and Exchange Board of India (SEBI)" "Insurance Regulatory and Development Authority of India (IRDAI)" "Reserve Bank of India (RBI)" "Pension Fund Regulatory and Development Authority (PFRDA)"

According to Indian Income Tax provisions, what aspect of P2P lending is subject to taxation?

"The principal loan amount" "The interest earned on the loan" "The processing fees charged by the platform" "The registration fees paid by users"