MobiKwik Group secures RBI approval for NBFC license

One MobiKwik Systems Ltd. announced that its Group's application for a Non-Banking Financial Company (NBFC) license has been approved by the Reserve Bank of India (RBI). This approval marks a significant milestone, enabling the launch of MobiKwik Financial Services Private Limited (MFSPL), a wholly-owned subsidiary. MFSPL will expand MobiKwik's regulated lending capabilities, allowing it to design innovative credit products and serve a broader base of consumers and merchants more efficiently. The in-house NBFC is expected to improve lending margins for the Group and provide access to sustainable capital through a co-lending model. This development aligns with MobiKwik's vision of building a full-stack fintech platform, leveraging its 186 Mn+ customer base and strong tech infrastructure. Operations will commence upon receipt of the Certificate of Registration from RBI after fulfilling certain conditions.