The Reserve Bank of India has made it mandatory that the aggregate exposure by an investor across all Peer to Peer Lending Platforms should be less than or equal to Rs. 10,00,000 and
the total exposure of a lender to a single borrower should be less than or equal to Rs. 50,000.
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Success Story of Mutthammal
Muttamal lost her husband a few years ago. Daily life dramatically changed for her after that. In her village Nadupatty, Tamil Nadu widows are not allowed out to be seen by others in the morning. It is a sign of bad luck for the day. Her social status changed overnight. She was ostracized by the people and her voice unheard. Supporting her children and managing her day to day needs became a nightmare. Her income dwindled to almost nothing. She managed to make ends meet by working as a laborer.
At this time, she decided that her daughter should get a good education and is not subject to these primitive customs. Her loan from MicroGraam helped this to become a reality. Muttamal is now a proud mother of a hospital nurse. She is overjoyed and hopes for a bright and progressive future for her daughter.