P2P GLOSSARY

P2P GLOSSARY

 

An all-inclusive list of abbreviations, terminologies and technical jargons frequently used in Peer to Peer (P2P) lending are catalogued here.

 

A

  1. Agreement

It is a contractual agreement between borrower and lender on a time draft, to communicate the ‘loan offer’ details including, principal amount borrowed, interest rate, repayment option, fee and other guiding principle and requirements pertaining to loan. 

  1. Amortization

Amortization is gradual liquidation of debt in the form of periodic payments (usually monthly) of interest rate and principal, over a certain time period.

  1. Annual Report

It is a ‘comprehensive disclosure’ issued yearly which shows accounting information for the preceding year.

  1. Annuity

An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees. [1]

  1. APR (Annual Percentage Rate)

The annual Percentage rate is the total cost of credit on an annual basis. It includes the rate of interest and any other fees. It is useful for comparing different types of debts.

  1. Assets

An asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset. [2]

  1. Auto Invest

It is a tech-enabled, fully-automated system to match the pre-defined criteria set by the lender with borrowers' requirements as soon as they are listed and even send proposals on the lender's behalf. It helps lenders to build a diversified portfolio across risk buckets more seamlessly and swiftly than was possible earlier. [3]                    

 

B

  1. Bad Credit

Bad credit describes an individual's credit history when it indicates that the borrower has a high credit risk. A low credit score signals bad credit, while a high credit score is an indicator of good credit. [4]

  1. Balance Transfer

A balance transfer is moving a debt balance from one account to another account. [5]

  1. Bank Account

A bank account is a financial account maintained by a bank for a customer. A bank account can be a deposit account, a credit card account, a current account, or any other type of account offered by a financial institution. [6]

  1. Bank fixed deposit

Deposits that are collected from investors by banks for a specific time period are known as bank fixed deposits or bank term deposits. These form the main area of raising funds for banks. [7]

  1. Bankruptcy

Bankruptcy, also known as insolvency, is the legal status of people, businesses, and governments that have more debt than they are able to pay. [8]

  1. Bank

A bank is a financial institution that accepts deposits from the public and creates credit. [9]

  1. Borrower

A person or an entity that takes money from someone else for various purposes. The borrower uses the money for the specified time duration and at the end of the period returns the money to the lender. For the usage of these funds, there will be a payment called interest. [10]

  1. Borrower risk category

The borrowers are classified into different risk categories ranging from minimum to very high risk. Loan amount, tenure and interest rate are decided on the basis of the borrower’s risk profile. [11]

  1. Business day

If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or holiday in the state in which the Company’s chief executive office is located, the time period shall be automatically extended to the business day immediately following such Saturday, Sunday or holiday. [12]

  1. Business loan

A business loan is a loan specifically intended for business purposes. [13]

 

C

  1. Canceled cheque

A canceled cheque is one which is crossed and the word "Cancelled" is written on it. By crossing the cheque and writing the word canceled on it, no one can use misuse this cheque. However, the cheque can provide the account number, cheque number and MICR code to whosoever concerned. [14]

  1. Capital gain

A capital gain refers to profit that you make when you buy something and then sell it again at a higher price.

  1. Capital loss

A capital loss is the loss incurred when a capital asset, such as an investment, decreases in value.

  1. Certificate of Registration (Cor)

A document giving information about a person or organization that appears on an official list. [15]

  1. Cheque

A Cheque, or check, is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the drawer, has a transaction banking account (often called a current, cheque, chequing or checking account) where their money is held. [16]

  1. CIBIL Score

CIBIL Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIBIL Report (also known as CIR i.e. Credit Information Report). [17]

  1. Collateral

Collateral is when an asset is pledged to secure repayment. [18]

  1. Compound Interest

Compound interest represents the amount you earn from your initial investment in addition to the interest you earn – on top of the interest that has already accrued. [19]

  1. Compounding

Compounding is the process in which an asset's earnings, from either capital gains or interest, are reinvested to generate additional earnings over time. [20]

  1. Consumer Durables

Consumer durables have an extended product life and are not worn out or consumed quickly when you use them. Since they're made to last, durable goods are typically more expensive. [21]

  1. Counterpart

Something that relates to something else with a common characteristic or function. [22]

  1. Credit history

A credit history is a record of how a person has managed his or her credit in the past, including total debt load, number of credit lines, and timeliness of payment. Lenders look at a potential customer’s credit history to decide whether or not to offer a new line of credit, and to help set the terms of the loan. [23]

  1. Credit marketplace

Credit marketplace refers to the market through which companies and governments issue debt to investors. [24]

  1. Credit report

A credit report is a statement that has information about your credit activity and current credit situation such as loan paying history and the status of your credit accounts. [25]

  1. Credit risk

Credit risk is defined as the possibility of losses associated with diminution in the credit quality of borrowers or counterparties. [26]

  1. Creditworthiness

Creditworthiness is a valuation performed by lenders that determines the possibility a borrower may default on his debt obligations. [27]

  1. CRIF

CRIF is a global company specializing in credit bureau and business information, outsourcing and processing services, and credit solutions. Established in 1988 in Bologna (Italy), CRIF has an international presence, operating over four continents (Europe, America, Africa and Asia). [28]

  1. Crowdfunding

Crowd Funding' generally refers to a method of funding a project or venture through small amounts of money raised from a large number of people, typically through a portal acting as an intermediary. There are numerous forms of crowdfunding: some are charitable donations that provide intangible benefits but no financial returns; others, such as equity crowdfunding would fall within the domain of financial markets. [29]

 

D

  1. Dashboard

Dashboards often provide at-a-glance views of KPIs (key performance indicators) relevant to a particular objective or business process. [30]

  1. Debt

Anyone having borrowed money or goods from another owes a debt and is under obligation to return the goods or repay the money, usually with interest. [31]

  1. Debt Consolidation

Debt consolidation means combining more than one debt obligation into a new loan with a favorable term structure such as lower interest rate structure, tenure, etc. [32]

  1. Debt-to-income ratio

Debt-to-income ratio refers to how much of a borrower’s monthly income is eaten up by debt. The ratio is calculated by dividing monthly debt payments by gross monthly income. It’s a key barometer for lending someone money. [33]

  1. Debtor

A person who owes money; a borrower. [34]

  1. Default

Default is a failure to meet the legal obligations (or conditions) of a loan. [35]

  1. Default Rate

The default rate is most commonly referred to as the percentage of loans that have been charged off after a prolonged period of missed payments.  At Faircent, any loan that has EMIs past due by 180 days is considered to have defaulted. [36]

  1. Direct Lending

Direct lending is a form of corporate debt provision in which lenders other than banks make loans to companies without intermediaries such as an investment bank, a broker or a private equity firm. [37]

  1. Disbursement

A disbursement is the paying out of funds, whether to make a purchase or other transaction. A disbursement can be made using cash or other methods of payment. [38]

  1. Diversification of Risk

A strategy used by investors to manage risk. By spreading your money across different assets and sectors, the thinking is that if one area experiences turbulence, the others should balance it out. It's the opposite of placing all your eggs in one basket. [39]

  1. Down payment

Down payment, is a payment used in the context of the purchase of expensive items such as a car and a house, whereby the payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction. A loan or the amount in cash is then required to make the full payment. [40] Down payments decrease the amount of interest paid over the lifetime of the loan, lower the monthly payments and provide lenders with a degree of security. [41]

  1. Draft or Bank Draft

A bank draft is a payment on behalf of the payer, which is guaranteed by the issuing bank. A draft is used when the payee wants a highly secure form of payment. [42]

 

E

  1. Economy

An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. This is also known as an economic system. [43]

  1. Eligibility

A criterion that has been standardized by lenders to evaluate the willingness and ability of a customer to qualify for a loan scheme. [44]

  1. Equity

Put simply, equity is ownership. In the trading world, equity refers to stock. In the accounting and the corporate lending world, equity (or more commonly, shareholders’ equity) refers to the amount of capital contributed by the owners or the difference between a company’s total assets and its total liabilities. In the real estate world, equity refers to the difference between an asset’s market value and the debt owed on the asset. [45]

  1. Escrow

Escrow is a legal concept in which a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction. Money, securities, funds, and other assets can all be held in escrow. [46]

  1. Escrow Account

A separate bank account for keeping money that is the property of others. [47]

  1. Event of Default

Event of Default is the occurrence of an event or circumstance against which a party to a contract seeks protection. Payment default, i.e. the failure to pay principal or interest when it falls due for payment. [48]

  1. Expected returns

Expected returns are profits or losses that investors expect to earn based on anticipated rates of return. [49]

 

F

  1. Fair credit reporting act

The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records). [50]

  1. FICO Score

A FICO score is a type of credit score created by the Fair Isaac Corporation. Lenders use borrowers' FICO scores along with other details on borrowers' credit reports to assess credit risk and determine whether to extend credit. [51]

  1. Fintech

FinTech is a new industry that uses technology to improve activities in finance. The use of smartphones for mobile banking, investing services and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public. [52]

  1. Fiscal Year

A fiscal year (FY) is a period that a company or government uses for accounting purposes and preparing financial statements. [53]

  1. Fixed Rate

A fixed rate is an interest rate that stays the same for the life of a loan, or for a portion of the loan term, depending on the loan agreement. [54]

 

G

  1. Good Credit

Good credit is a classification for an individual's credit history, indicating that the borrower has a relatively high credit score and is a safe credit risk. [55]

  1. Gross

Aggregate amount prior to any deduction or discount. [56]

  1. GST

GST is one indirect tax for the whole nation, which will make India one unified common market. [57]

 

H

  1. Home Improvement Loan

Home improvement loan is meant for renovating a house. Maximum tenure is typically 3 years and interest rates are in 12-36% per year range, depending on the lender, loan amount and eligibility.

 

I

ID Proof

A document or documents used to verify someone's identity. [58]

  1. IFSC Code

IFSC Code refers to Indian Financial System Code, which is an eleven-character code assigned by RBI to identify every bank branch uniquely, that are participating in the NEFT system in India. This code is used by electronic payment system applications such as RTGS, NEFT, and CFMS. [59]

  1. Income Statements

The Income Statement is one of a company’s core financial statements that shows their profit and loss over a period of time.  The profit or loss is determined by taking all revenues and subtracting all expenses from both operating and non-operating activities. [60]

  1. Infringement

A violation of a law, regulation, contract, or right. [61]

  1. Installment

A sum of money paid in small parts in a fixed period of time. [62]

  1. Interest

Interest, the price paid for the use of credit or money. It may be expressed either in money terms or as a rate of payment. [63]

  1. Interest rate

An interest rate is the percent of principal charged by the lender for the use of its money. [64]

  1. Intermediary

Firm or person (such as a broker or consultant) who acts as a mediator on a link between parties to a business deal, investment decision, negotiation, etc. In money markets, for example, banks act as intermediaries between depositors seeking interest income and borrowers seeking debt capital. Intermediaries usually specialize in specific areas and serve as a conduit for market and other types of information. Also called a middleman. [65]

  1. Investment

An investment is an asset or item acquired with the goal of generating income or appreciation. [66]

  1. Investment income

Income generated by the investment of assets. [67]

  1. Investment Portfolio

An investment portfolio is a collection of assets owned by an individual or by an institution. [68]

  1. Investor

An individual who commits money to investment products with the expectation of financial return. [69]

  1. IPO

Initial public offering is a company's first sale of stock to the public. Securities offered in an IPO are often, but not always, those of young, small companies seeking outside equity capital and a public market for their stock. Investors purchasing stock in IPOs generally must be prepared to accept considerable risks for the possibility of large gains. IPOs by investment companies (closed-end funds) usually include underwriting fees that represent a load to buyers. [70]

  1. ITR

An income tax (IT) return is the tax form or forms used to file income tax with the Income Tax Department. The tax return is usually in a predefined worksheet format where the income figures used to calculate the tax liability are written into the documents themselves. [71]

 

K

  1. KYC

Know your customer (alternatively, know your client or 'KYC') is the process of a business verifying the identity of its clients and assessing the potential risks of illegal intentions for the business relationship. [72]

 

L

  1. Lend

To allow someone to use something for a period. [73]

  1. Lenders

A lender is an individual, a public or private group, or a financial institution that makes funds available to another with the expectation that the funds will be repaid. [74]

  1. Loan

A loan is money, property or other material goods that is given to another party in exchange for future repayment of the loan value amount along with interest or other finance charges. [75]

  1. Loan Agreement

A loan agreement is a contract between a borrower and a lender which regulates the mutual promises made by each party. [76]

  1. Loan Amortization Calculator

The Loan amortization calculator is used to determine the periodic payment amount due on a loan. It can be used to estimate monthly payment on the loan.

  1. Loan Application

A document that provides the essential financial and other information about the borrower on which the lender bases the decision to lend. For a business loan, it normally requires a detailed business plan that includes current and projected (usually for 3 years, or for the period of the loan) income statement (profit and loss account), balance sheet, and cash flow statement. [77]

  1. Loan ID

It is a unique loan identification number of a particular credit transaction.

  1. Loan listing

The Loan listing page is where lenders find various borrower loan request.

  1. Loan Loss Rate

The total principal on loans written off as uncollectible during a particular reporting period, as a percentage of the average unpaid balance on outstanding loans over the same reporting period. In the context of this guidance, all loans past due 180 days or more are considered as the total loss. [78]

  1. Loan Period / Loan Tenure

Period from the date of disbursement of loan to the date of the last EMI payment or the date of closure of loan. [79]

 

M

  1. Marriage loan

A loan specifically to meet wedding expenses. [80]

  1. Mortgage

A loan where some property or real-estate is the collateral is Mortgage Loan. [81]

  1. Money market

Money market, a set of institutions, conventions, and practices, the aim of which is to facilitate the lending and borrowing of money on a short-term basis. [82]

 

N

  1. NACH Mandate: National Automated Clearing House

The National Payments Corporation of India (NPCI) offers to banks, financial institutions, Corporates and Government/s a service termed as, “National Automated Clearing House (NACH)” which includes both Debit and Credit. It shall be referred to as NACH hereafter. Proposed NACH (Debit) & NACH (Credit) aims at facilitating interbank high volume, low-value debit/credit transactions, which are repetitive in nature, electronically using the NPCI service. [83]

  1. NASDAQ

The Nasdaq Stock Market is an American stock exchange. It is the second-largest exchange in the world by market capitalization, behind only the New York Stock Exchange located in the same city. [84]

  1. NBFC

A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property.

A non-banking institution which is a company and has a principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner is also a non-banking financial company (Residuary non-banking company). [85]

  1. NBFC-P2P

Non-banking financial company – Peer to Peer Lending Platform (NBFC-P2P) means a non-banking institution which carries on the business of a Peer to Peer Lending Platform. [86]

  1. NBFC-P2P Certification

Every existing and prospective NBFC-P2P shall make an application for registration to the Department of Non-Banking Regulation, Mumbai of the Bank, in the form which will be specified by the Bank for the purpose. [87]

  1. Net profit

It is the actual profit and includes the operating expenses that are excluded from gross profit. [88]

  1. Net profit margin

Net profit margin is the ratio of net profits or net income to revenues for a company, business segment or product. [89]

  1. Net Return

Net return from an investment after deducting all expenses from the gross income generated by the investment. [90]

  1. Non-Refundable

Not permitted, under the terms of an indenture, to be refundable. [91]

 

O

  1. Opening Balance

The amount of money in a bank account when it is opened.

  1. Outstanding debt

Unpaid portion of a debt that may include interest accrued on the balance. [92]

 

P

  1. P.a.

It stands for per annum.

  1. P2P

It stands for Peer-to-Peer / Person to Person

  1. Peer-To-Peer Lending

P2P lending is a form of crowd-funding used to raise loans which are paid back with interest. It can be defined as the use of an online platform that matches lenders with borrowers in order to provide unsecured loans. The borrower can either be an individual or a legal person requiring a loan. The interest rate may be set by the platform or by mutual agreement between the borrower and the lender. Fees are paid to the platform by both the lender as well as the borrower. The borrowers pay an origination fee (either a flat rate fee or as a percentage of the loan amount raised) according to their risk category. The lenders, depending on the terms of the platform, have to pay an administration fee and an additional fee if they choose to use any additional service (e.g. legal advice etc.), which the platform may provide. The platform provides the service of collecting loan repayments and doing a preliminary assessment on the borrower’s creditworthiness. The fees go towards the cost of these services as well as the general business costs. The platforms do the credit scoring and make a profit from arrangement fees and not from the spread between lending and deposit rates as is the case with normal financial intermediation. [93]

  1. Peer-To-Peer Lending Platform

As per RBI - Peer to Peer Lending Platform means an intermediary providing the services of loan facilitation via an online medium or otherwise, to the participants. [94]

  1. PAN Card

Permanent Account Number (PAN) is a code that acts as an identification for individuals, families and corporates (Indian and Foreign as well), especially those who pay Income Tax. It is a unique, 10-character alpha-numeric identifier, issued to all judicial entities identifiable under the Indian Income Tax Act, 1961. [95]

  1. Payable

Sum of money that ought to be paid, as agreed or required. [96]

  1. Personal Loan

It is also known as uncollateralized debt. In finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor or collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment. [97]

  1. Portfolio What-If Analysis

Portfolio What-If Analysis is a free tool for investors to analyze and manage their portfolio. It offers impressive functionality to help you assess the performance of your loan portfolio and overall impact on returns.    

  1. Prepayment / Pre-Pay Loan

Prepayment is the early repayment of a loan by a borrower, in part or in full, often as a result of optional refinancing to take advantage of lower interest rates. [98]

  1. Principal Amount

The amount borrowed (such as the face value of a debt security), or the part of the amount borrowed which remains unpaid (excluding interest), here also called the principal. [99]

  1. Privacy Policy

A privacy policy is a statement or a legal document (in privacy law) that discloses some or all of the ways a party gathers, uses, discloses, and manages a customer or client's data. It informs the client what specific information is collected, and whether it is kept confidential, shared with partners, or sold to other firms or enterprises. [100]

  1. Processing Fee / Loan Application Fee

A loan application fee is a fee charged to a potential borrower for processing an application for a loan. Loan application fees can be required for all types of loans. [101]

  1. Profit Margin

Ratio of profit after taxes to cost-of-sales often expressed as a percentage. It is one of the measures of the profitability of a firm, and an indicator of its cost structure. [102]

  1. Promissory note

A promissory note is simply a "promise to pay." It contains a maker (the payor) and a lender (the payee). An unsecured promissory note is not attached to anything, the loan is made based on the maker's ability to repay. [103]

  1. Proof of Income

Lenders demand proof of income to evaluate a borrower’s repayment capability. Faircent request last 3 months of salary slip for salaried professional, last year’s business/personal ITR & take-home salary for the business professional. [104]

 

R

  1. Rate of Interest

Interest rate is the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Interest rates are typically noted on an annual basis, known as the annual percentage rate (APR). [105]

  1. Refund

Payment or retirement of a loan by arranging a new loan. [106]

  1. Registration

The act of recording a name or information on an official list. [107]

  1. Repayment 

Repayment is the act of paying back money previously borrowed from a lender. Repayment is typically executed through periodic payments that include part principal plus interest. [108]

  1. Risk

Risk involves the chance an investment's actual return will differ from the expected return. [109]

  1. Risk Category

There are multiple borrowers listed under different risk categories, with varying interest rates. The low-risk borrower will get (an interest rate of) 12-13% while the rate for a high-risk borrower can go up to 25-30%. [110]

  1. ROI

Return on investment represents the financial benefit received from an investment. Basically, it's a measure of what you get back compared to what you put in. [111]

 

S

  1. Salary Employee

A salaried employee (also known as a salaried employee) is a worker who is paid a fixed amount of money or compensation (also known as a salary) by an employer. [112]

  1. Service Fee

Servicing fee is the percentage of each loan payment made by a borrower to the P2P lending platform as compensation for maintaining the record of payments, making escrow payments, passing principal and interest payments along to the note holder, etc.

  1. Short-term Investment

Short-term investment, with regard to investing, generally refers to a period of less than 3 years. [113]

  1. Sign Up

To agree to become involved in an organized activity. [114]

  1. Signature Proof

Signature verification is a technique used by banks, intelligence agencies and high-profile institutions to validate the identity of an individual. [115]

  1. Stake Holders

A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers. [116]

  1. Subsidized

A government guaranteed loan or financing with lower interest rates than traditional forms of financing. Subsidized financing is generally offered to lower-income people. [117]

 

T

  1. Total initial payment

Total initial payment made by the customer when the asset is purchased also includes service charges and advance EMIs if any. [118]

  1. Transaction

A transaction is an agreement between a buyer and a seller to exchange goods, services or financial instruments. [119]

 

U

  1. Underwriting fees

Underwriting fees are monies collected by underwriters for performing underwriting services. Underwriters work in a variety of markets including investments, mortgages, and insurance. In each situation, the underwriter's jobs vary slightly yet each collects underwriting fees in exchange for his or her underwriting services. [120]

  1. Unsecured loan

An unsecured loan isn’t attached to any collateral. The only assurance the lender has that you will repay the debt is your creditworthiness and your word. Common types of unsecured loans include personal loans and student loans. Credit cards are another type of unsecured credit, also known as revolving credit, where you essentially borrow and repay monthly. [121]

 

V

  1. Virtual Marketplace

Virtual marketplaces are where third-party sellers can do business. Amazon and eBay are popular examples of virtual marketplaces. [122]

 

W

  1. Working Capital

Working capital, also known as net working capital, is the difference between a company’s current assets, like cash, accounts receivable (customers’ unpaid bills) and inventories of raw materials and finished goods, and its current liabilities, like accounts payable. [123]

  1. Working days

Any day other than Sunday or gazetted or statutory holiday. [124]

 

Y

  1. Yield

In financial terms, the yield is used to describe a certain amount earned on a security, over a particular period of time. [125]

 

Z

  1. Zero Balance Account

In finance, a Zero Balance Account (ZBA) is a system of cash pooling (to consolidate the cash balances of several subsidiaries of a single company). This system is designed to leave in the current accounts of the subsidiaries that minimum amounts to be able to deal with their debts contracted. [126]

 

References

  1. https://www.investopedia.com/terms/a/annuity.asp
  2. https://en.wikipedia.org/wiki/Asset
  3. https://www.business-standard.com/article/news-ani/faircent-com-launches-fully-automated-auto-invest-feature-117072600748_1.html
  4. https://www.investopedia.com/terms/b/bad-credit.asp
  5. https://www.bankrate.com/glossary/b/balance-transfer/
  6. https://en.wikipedia.org/wiki/Bank_account
  7. http://www.moneycontrol.com/glossary/bank-deposits/bank-fixed-deposits_4105.html
  8. https://www.bankrate.com/glossary/b/bankruptcy/
  9. https://en.wikipedia.org/wiki/Bank
  10. http://www.moneycontrol.com/glossary/bank-deposits/borrower_4107.html
  11. https://www.businesstoday.in/magazine/money-today/investment/bigger-gains/story/276128.html
  12. https://www.lawinsider.com/clause/business-days
  13. https://en.wikipedia.org/wiki/Business_loan#cite_note-3
  14. https://www.ndtv.com/business/what-are-the-uses-of-cancelled-cheques-379901
  15. http://lexicon.ft.com/Term?term=certificate-of-registration
  16. https://en.wikipedia.org/wiki/Cheque
  17. https://www.cibil.com/faq/understand-your-credit-score-and-report
  18. https://study.com/academy/lesson/collateral-definition-types-examples.html
  19. https://smartasset.com/investing/difference-between-simple-and-compound-interest
  20. https://www.investopedia.com/terms/c/compounding.asp
  21. http://www.investinganswers.com/financial-dictionary/economics/consumer-durables-2322
  22. http://www.businessdictionary.com/definition/counterpart.html
  23. https://www.bankrate.com/glossary/c/credit-history/
  24. https://www.investopedia.com/terms/c/credit_market.asp
  25. https://www.consumerfinance.gov/ask-cfpb/what-is-a-credit-report-en-309/
  26. https://www.rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=906
  27. https://www.investopedia.com/terms/c/credit-worthiness.asp#ixzz5L2Hyx2Tp
  28. https://www.crif.com/about-us/
  29. https://www.rbi.org.in/scripts/bs_viewcontent.aspx?Id=3164
  30. https://en.wikipedia.org/wiki/Dashboard_(business)
  31. https://www.britannica.com/topic/debt
  32. https://economictimes.indiatimes.com/definition/debt-consolidation
  33. https://www.bankrate.com/glossary/d/debt-to-income-ratio/                   
  34. http://www.moneycontrol.com/glossary/taxes/debtor_2890.html
  35. https://en.wikipedia.org/wiki/Default_(finance)
  36. https://www.investopedia.com/terms/d/defaultrate.asp
  37. https://en.wikipedia.org/wiki/Direct_lending
  38. https://www.bankrate.com/glossary/d/disbursement/
  39. https://capital.com/risk-diversification-definition
  40. https://en.wikipedia.org/wiki/Down_payment
  41. https://www.investopedia.com/terms/d/down_payment.asp#ixzz5L6m6alFJ
  42. https://www.accountingtools.com/articles/2017/5/9/bank-draft
  43. https://www.investopedia.com/terms/e/economy.asp#ixzz5L2Sup3iY
  44. http://www.moneycontrol.com/glossary/loans/eligibility_436.html
  45. http://www.investinganswers.com/financial-dictionary/stock-market/equity-5038
  46. https://www.investopedia.com/terms/e/escrow.asp
  47. https://financial-dictionary.thefreedictionary.com/escrow+account
  48. https://en.wikipedia.org/wiki/Event_of_default
  49. https://www.myaccountingcourse.com/accounting-dictionary/expected-return
  50. https://www.experian.com/blogs/ask-experian/credit-education/report-basics/fair-credit-reporting-act-fcra/
  51. https://www.investopedia.com/terms/f/ficoscore.asp
  52. https://en.wikipedia.org/wiki/Financial_technology
  53. https://www.investopedia.com/terms/f/fiscalyear.asp#ixzz5L7YRDZJ0
  54. https://www.bankrate.com/glossary/f/fixed-rate/
  55. https://www.investopedia.com/terms/g/good-credit.asp
  56. http://www.businessdictionary.com/definition/gross.html
  57. https://www.gstindia.com/about/
  58. https://www.collinsdictionary.com/dictionary/english/proof-of-identity
  59. https://banksifsccode.com/blog/what-is-ifsc-code/
  60. https://corporatefinanceinstitute.com/resources/knowledge/accounting/income-statement/
  61. https://thelawdictionary.org/infringement/
  62. https://en.wikipedia.org/wiki/Instalment
  63. https://www.britannica.com/topic/interest-economics
  64. https://www.thebalance.com/what-are-interest-rates-and-how-do-they-work-3305855
  65. http://www.businessdictionary.com/definition/intermediary.html
  66. https://www.investopedia.com/terms/i/investment.asp#ixzz5L7gMS5pb
  67. http://www.moneycontrol.com/glossary/insurance/investment-income_1298.html
  68. http://www.moneycontrol.com/glossary/retirement-planning/investment-portfolio-definition_3806.html
  69. http://www.investorwords.com/2630/investor.html#ixzz5L7i0t2TY
  70. https://www.smartdefine.org/ipo_(initial_public_offering)/definitions
  71. https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/what-is-income-tax-return
  72. https://en.wikipedia.org/wiki/Know_your_customer
  73. http://www.investorguide.com/definition/lend.html
  74. https://www.investopedia.com/terms/l/lender.asp#ixzz5L7mWsClz
  75. https://www.investopedia.com/terms/l/loan.asp#ixzz5L7roOf7A
  76. https://en.wikipedia.org/wiki/Loan_agreement
  77. http://www.businessdictionary.com/definition/loan-application.html
  78. https://definedterm.com/loan_loss_rate
  79. http://www.moneycontrol.com/glossary/loans/tenure_402.html
  80. https://www.faircent.com/personal-loan/personal-loan-for-marriage
  81. https://www.faircent.com/a-definitive-guide-to-loans-personal-loan-business-loan
  82. https://www.britannica.com/topic/money-market#ref394212
  83. https://www.npci.org.in/sites/default/files/circular/Circular-No-146A.pdf
  84. https://en.wikipedia.org/wiki/NASDAQ
  85. https://www.rbi.org.in/Scripts/FAQView.aspx?Id=92
  86. https://www.indianeconomy.net/splclassroom/what-is-peer-to-peer-lending-nbfc-nbfc-p2p/
  87. https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11137
  88. https://en.wikipedia.org/wiki/Net_profit
  89. https://www.investopedia.com/terms/n/net_margin.asp#ixzz5L8HGOtp1
  90. http://www.businessdictionary.com/definition/net-return.html
  91. https://financial-dictionary.thefreedictionary.com/Non-Refundable
  92. http://www.businessdictionary.com/definition/outstanding-debt.html
  93. https://www.rbi.org.in/scripts/bs_viewcontent.aspx?Id=3164
  94. https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11137
  95. https://en.wikipedia.org/wiki/Permanent_account_number
  96. http://www.businessdictionary.com/definition/payable.html
  97. https://en.wikipedia.org/wiki/Unsecured_debt
  98. https://en.wikipedia.org/wiki/Prepayment_of_loan
  99. http://www.investorwords.com/3841/principal_amount.html#ixzz5LaKLG6YD
  100. https://www.investopedia.com/terms/l/loan-application-fee.asp
  101. https://www.investopedia.com/terms/l/loan-application-fee.asp
  102. http://www.businessdictionary.com/definition/profit-margin.html
  103. https://www.thebalance.com/promissory-note-1798611
  104. https://www.thebalance.com/promissory-note-1798611
  105. https://www.investopedia.com/terms/i/interestrate.asp#ixzz5LaQa9xxd
  106. http://www.businessdictionary.com/definition/refund.html
  107. https://dictionary.cambridge.org/dictionary/english/registration
  108. https://www.investopedia.com/terms/r/repayment.asp
  109. https://www.investopedia.com/terms/r/risk.asp
  110. https://www.livemint.com/Money/Sn7HbekscjQ3i010YGZ54K/Wait-for-P2P-lending-to-evolve-before-investing.html
  111. https://www.thebalancesmb.com/roi-return-on-investment-1794432
  112. https://www.thebalancecareers.com/what-is-a-salary-employee-2062093
  113. https://www.thebalance.com/short-term-investing-and-performance-2466577
  114. https://dictionary.cambridge.org/dictionary/english/sign-up
  115. https://www.techopedia.com/definition/30499/signature-verification
  116. https://www.investopedia.com/terms/s/stakeholder.asp#ixzz5LarZq7dh
  117. http://www.businessdictionary.com/definition/subsidized-financing.html
  118. http://www.moneycontrol.com/glossary/loans/total-initial-payment_404.html
  119. https://www.investopedia.com/terms/t/transaction.asp#ixzz5Lav6hh5P
  120. https://www.investopedia.com/terms/u/underwriting-fees.asp#ixzz5LavlC4OI
  121. https://www.experian.com/blogs/ask-experian/secured-vs-unsecured-loans-what-you-should-know/
  122. https://www.thebalancesmb.com/virtual-marketplace-model-successful-1141741
  123. https://www.investopedia.com/terms/w/workingcapital.asp#ixzz5LayCaKkd
  124. http://www.businessdictionary.com/definition/working-day.html
  125. https://economictimes.indiatimes.com/definition/yield
  126. https://en.wikipedia.org/wiki/Zero_balance_account