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Peer-to-peer Options For Investing In Your India

By Author: Malini Srikrishna
Total Articles: 2
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Over the past decade, different digital platforms have emerged for making easy and informed investments in India. These forums facilitate peer-to-peer payments for those who otherwise do not have sustainable sources of income to support their families or feasible credit options. Milaap and Rang De are key examples that reflect the diversity of methods to tackle the same issue of bridging gaps in accessibility.

Milaap was founded in 2010 as a crowdfunding website with the original goal of funding rural undertakings and microfinance ventures. It expanded into a platform that raises money for personal causes surrounding areas such as healthcare, disaster relief, and education. It has especially been used for emergencies treatments such as cancer and transplant procedures. The platform intended to let people tell their stories and break through barriers of mistrust and apathy. The donor has the autonomy to decide which cause is worth funding from a multiplicity of options.

If you are interested in investing in India’s future, rather than donating, Rang De is a digital platform that connects investors with rural entrepreneurs for social lending. It provides an alternative to people who generally end up with high debt burden if they go through money lenders or banks. It is the first social peer to peer lending platform in India where underprivileged people looking to innovate their businesses or startup can borrow money online at low interest rates. The company has expanded since 2008 to address the critical issues of awareness, access and affordability.

The fundamental difference between these two platforms is that Milaap is centered around crowdfunding while Rang De is centered around crowd-lending. Milaap facilitates short-term donations for those facing destitute circumstances so they may get through the situation inflicting them. On the other hand, Rang De focuses on having a long-term effect on its users who grow the wealth they are lent and return the original amount with minimal interest to the investor. These two models depict the difference between 'charitability' and accountability. While both are effective in their own ways, Milaap reinforces class differences while Rang De empowers its entrepreneur by allowing them to rise with dignity through their own efforts.

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