The business of the P2P Lending Platform is primarily IT-driven.
Sufficient safeguards must be in place in the IT systems to ensure the security of data.
Audit of the internal information systems to be carried at least once every 2-years by CISA certified external auditors.
This Audit report to be submitted to the Department of Non-Banking Supervision (DNBS) of RBI, within 1-month of submitting the report by the external auditor.
Reasonable arrangements must be employed to ensure that the loan agreements between the parties will continue to be managed by a 3rd party, if the P2P ceases to carry on the business.