MobiKwik gets RBI licence to operate as NBFC
In short
MobiKwik has got an RBI licence to operate as an NBFC. It plans to start lending through its subsidiary within six months and aims to build a ₹5,000 crore loan book.
The move could help MobiKwik expand its credit business by working with banks and other NBFCs. That may widen its reach to consumers and small businesses.
What the reporting says
MobiKwik has received an RBI licence to operate as a non-banking financial company, with plans to start lending through its subsidiary within six months. According to a CNBC TV18 Market summary, the fintech firm aims to begin by partnering with banks and other NBFCs to offer credit to consumers and small businesses. The company is targeting ₹5,000 crore in loans.
Why it matters
MobiKwik has received RBI approval to operate as an NBFC and plans to launch lending through its subsidiary within six months. The company intends to work with banks and other NBFCs at first, targeting consumer and small-business credit. The reported ₹5,000 crore loan target signals a larger move into formal lending, which could affect MobiKwik’s growth in financial services.