MobiKwik Group has received approval from the Reserve Bank of India (RBI) for its Non-Banking Financial Company (NBFC) licence, marking a step in its plan to expand financial services offerings. The licence has been granted to MobiKwik Financial Services Private Limited (MFSL), a wholly owned subsidiary.
The NBFC licence will enable the company to launch a new lending division, allowing it to offer regulated lending capabilities, design innovative credit products, and serve a broader base of consumers and merchants. This development aligns with the Group’s focus on building a full-stack fintech platform delivering accessible and technology-driven financial solutions.
The company stated that the approval supports its long-term vision of scaling financial services while maintaining governance and risk discipline. The NBFC structure is expected to improve margins through co-lending models and enable access to sustainable capital for growth.
MobiKwik highlighted that the new lending arm will focus on underserved segments, including consumers and MSMEs in Tier 2 and Tier 3 cities. The company plans to leverage AI and machine learning models along with its digital distribution network to cater to diverse credit needs.
Commenting on the development, Upasana Taku, Executive Director, Co-founder & CFO, MobiKwik, said, “The NBFC application approval is a pivotal step in MobiKwik Group’s evolution to a scaled financial services platform. We are especially happy that the application has been approved in under four months, which is an endorsement of the credibility of the Group, and are grateful to the RBI for reposing its faith in us. This gives us the regulatory framework to deepen our credit offerings while maintaining strong governance and risk discipline. We will continue to responsibly serve the credit needs of Bharat and build products that genuinely improve financial inclusion.”
The company added that operations will commence upon receipt of the Certificate of Registration from the RBI, following the fulfilment of certain conditions.
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