Fintech company One MobiKwik Systems has received approval from the RBI for a NBFC licence

Fintech company One MobiKwik Systems has received approval from the RBI for a NBFC licence

¨    Fintech company One MobiKwik Systems has received approval from the Reserve Bank of India (RBI) for a Non-Banking Financial Company (NBFC) licence.

¨  This approval marks a significant milestone, allowing the company to enter the regulated lending sector.

With this licence, the company will be able to

¨     Directly provide loans

¨     Expand its credit product portfolio

¨     Operate under the RBI-regulated financial framework

¨  The approval reflects regulatory confidence in the company and enables its expansion in financial services.

¨     MobiKwik has also launched a new lending subsidiary called MobiKwik Financial Services Pvt. Ltd. (MFSPL).

The focus of MFSPL will be

¨     Designing new credit products

¨     Serving both customers and merchants

¨     Expanding digital lending capabilitie

This move represents a strategic shift for MobiKwik from being a payments platform to a full-fledged financial services provider.