P2P Lending Talks with Nepal Rastra Bank
Dipesh Karki, the Nepal-born co-founder of Mumbai-based peer-to-peer lending platform LenDenClub, has confirmed ongoing discussions with Nepal Rastra Bank (NRB) to introduce a P2P lending model in Nepal. In an exclusive interview with ANI, Karki stated that the primary hurdle is not political will but regulatory confidence. "The blocker is definitely not the intent. NRB has already released a white paper on potential ways to achieve P2P lending. The biggest blocker is confidence, which is valid because P2P reaches a mass audience on both lender and borrower sides," he explained.
Regulatory Framework and Sandbox Approach
Karki elaborated that NRB is assessing risks and building a framework to encourage innovation. "Regulators are looking to build a framework wherein innovators would be encouraged to create a proof of concept. They may release sandboxes for controlled group trials to test viability, adding a Nepali flavour to the model rather than replicating the Indian playbook," he added.
Remittances as Productive Credit
With millions of Nepali workers in India sending remittances home, Karki stressed the potential to channel these flows into productive credit. "Remittance has been a steady source of income, but it can be used creatively—for borrowing, agricultural needs, or educational loans. The government proposed a diaspora bond, and remittances could fund such bonds if cross-border checks, regulatory evaluations, and borrower protection are stringent," he said.
Human Connectivity vs. Diplomacy
Karki highlighted that cultural and human exchanges between Nepali and Indians predate political borders. "Cultural exchange, trust, and value common people hold are not blended with diplomacy. That's why the open border is lenient and accessible. Bollywood shapes cultural evolution, and businesses have accessed cross-border markets for ages. Diplomacy and cultural value exchange work hand-in-hand," he noted.
From Sentiment to Substance
Asked whether cultural goodwill translates into concrete business outcomes, Karki said, "Cultural familiarity reduces distance and opens doors, but performance keeps you inside the room. Investors ask for numbers, regulators for compliance. Being Nepali in India gave me humanity and hunger, but LenDenClub had to stand on product, regulation, risk, and skill."
Call for an Innovation Corridor
Karki urged policymakers to create an open corridor for startups and innovation between India and Nepal. "Nepal has strong innovators but lacks scaling speed. India has a market of 1.5 billion people. An innovation corridor would allow Nepal to access the fourth-largest economy and foster collaborative growth," he said.
Advice for Nepali Founders and Indian Institutions
Karki advised Nepali founders to build from Nepal for larger markets, emphasizing world-class execution and regulatory understanding. To Indian institutions, he said, "Make it easier for serious Nepali students, founders, and entrepreneurs to access networks, internships, and long-term pathways. Talent from Nepal should come to build companies, not just jobs. The LenDenClub story should become a repeatable path, not an exception."
