Bad loans of peer-to-peer lenders more than double to Rs 1,163 crore in FY24

Non-performing assets (NPAs) of peer-to-peer (P2P) lending entities more than doubled to ₹1,163 crore in FY24, rising from ₹472.1 crore in FY23. This surge, representing 17% of total P2P lending, comes as stricter regulations, including limits on borrowing and lending, aim to stabilize the sector but also pose challenges to its growth.