MobiKwik arm gets RBI registration to operate as NBFC
In short
MobiKwik’s financial services arm has got RBI registration to operate as an NBFC.
The company says it wants to disburse Rs 5,000 crore in loans over the next three to four years, which could expand its lending business.
What the reporting says
MobiKwik Financial Services, a subsidiary of MobiKwik, has received RBI registration to operate as an NBFC. CNBC TV18’s summary says the company plans to disburse Rs 5,000 crore in loans over the next three to four years. The licence opens the way for lending expansion, with launch plans set over the coming months.
Why it matters
MobiKwik Financial Services has received RBI registration to operate as an NBFC, according to the summary. The company plans to disburse Rs 5,000 crore in loans over the next three to four years, which points to a larger lending push. The significance is for MobiKwik’s financial services business and the broader digital lending market.