MobiKwik Group receives RBI nod for NBFC license

One MobiKwik Systems (MobiKwik) announced that the Group's application for a Non-Banking Financial Company (NBFC) license has been approved by the Reserve Bank of India (RBI), marking a significant milestone in the Group's journey to deepen its financial services offerings.

The NBFC license will enable the launch of a new lending division - MobiKwik Financial Services (MFSPL, a wholly owned subsidiary), which will help expand its regulated lending capabilities, design innovative credit products, and serve a broader base of consumers and merchants with greater efficiency and control. This development aligns with the Group's long-term vision of building a full-stack fintech platform that delivers accessible, responsible, and tech-led financial products.

The NBFC will build on the Group's inherent strengths of having a 186 Mn+ customer base, a trusted brand name, as well as strong tech infrastructure, risk underwriting and collection capabilities. MFSPL, the group's in-house NBFC is envisaged to enable launch of new credit products with faster go-t0-market (GTM) offering both secured and unsecured to consumers and MSMEs in underserved geographies. The NBFC's operations will commence upon receipt of Certificate of Registration (COR) from RBI on the fulfilment of certain conditions.