Pricing Structure Policy

Background:

  1. The Master Directions – Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 bearing No. DNBR (PD) 090/03.10.124/2017-18 dated October 4, 2017 as updated on February 23, 2018 (“Master Directions”), issued by the Reserve Bank of India (“RBI”) requires every Non-Banking Financial Company – Peer to Peer Lending Platform (“NBFC – P2P”) to implement a pricing structure policy approved by its Board of Directors.
  2. Rang De P2P Financial Services Private Limited (“Company”), being a peer to peer lending platform in the process of applying for a registration with the RBI for NBFC-P2P, is also required to implement such a policy in adherence with the Master Directions of the RBI.
  3. Accordingly, the Board of Directors have, on their meeting held on 9th April, 2019, approved this pricing structure policy (“Policy”). The Policy has been created in line with the Master Directions and shall be reviewed by the Board of Directors periodically to ensure continued adherence with all directions issued by the RBI, from time to time.

Scope and Application:

  1. The Policy shall apply to the pricing structure of the products and services of the Company.
  2. The Policy shall be applicable with effect from the date of the Certificate of Registration issued by RBI. (“Effective Date”).

Objectives of the Policy:

  1. The main objective of this Policy is to lay down criteria for charging fees, and any other additional charges from the Participants on the Platform.

Definitions:

  1. “Company” shall refer to “Rang De P2P Financial Services Private Limited”;
  2. “Effective Date” shall mean the date stated in Clause 2.2.
  3. “Participant” shall refer to a lender or a borrower on the Platform, as the context may require;
  4. “Partner” shall refer to an outsourced agent to source borrowers
  5. “Platform” shall refer to the website www.rangde.in.

Pricing Mechanism For Services Offered On The Platform:

  1. Subscription Fees
    1. A subscription fee as given below is applicable to lenders that have registered on the Platform which is not mandatory.
      • Annual Plan: INR 999/- per year
    2. The interest paid by the borrower would comprise of the Lender’s share, the Impact Partner’s share & Rang De’s share
    3. The interest split between the Lender,Impact Partner & Rang De shall be in the following manner,
      • For subscribers: The ratio of split is 1:1 which essentially converts the Lender’s share to 50% and the Impact Partner’s share to 50% of the total interest earned on a loan
      • For non subscribers: The ratio of split is 2:5:3 which essentially converts the Lender’s share to 20%,the Impact Partner’s share to 50% & Rang De’s share to 30% of the total interest earned on a loan
  2. Transaction charge
    1. The transaction charge shall be absorbed by the partner. The fee shall be a percentage of the loan amount invested by a lender.
    2. Any taxes, including GST, shall be charged additionally at applicable rates
    3. The fee structure for transaction charges per investment is as follows:
      Mode of transaction Payment Gateway charges NACH charges per installment
      Debit Card (0.1% to 0.95%) of the Invested Amount As charged by the bank
      Net Banking 8/- to 12/- per transaction As charged by the bank
      UPI 09/- per transaction As charged by the bank
      Wallets 1.85% of the Invested Amount As charged by the bank