.......Kiva has been trying to evolve an India-specific business model for quite some time. The main challenge came from the Reserve Bank of India (RBI), which does not allow foreign nationals to lend directly to Indians. Thus, Kiva had to tweak its peer-to-peer lending model. The money raised from lenders in Kiva had to come in as external commercial borrowings (ECB) to Indians. These individual loans, pooled as ECBs, had to be transferred to a microfinance agency or NGO (called field partners), who, in turn, could lend to actual micro-borrowers. Another, RBI regulation requires that loans made to non-government microfinance institutions have a minimum term of three years. .......
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