MobiKwik has received Reserve Bank of India approval for an NBFC licence, setting up the launch of its own lending business. The fintech plans to operate this through a wholly owned subsidiary and roll out new credit products for both consumers and merchants. The RBI nod marks a major step as MobiKwik moves beyond payments into direct credit offerings.
Mobikwik Group has received approval from the Reserve Bank of India to operate as a non-banking financial company, according to One MobiKwik Systems. The NBFC licence is a major regulatory milestone that can enable Mobikwik to broaden financial services, including credit-linked products, under RBI oversight and rules.
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