Mobikwik gets central bank nod for non-banking financial company licence

Fintech firm One MobiKwik Systems said on Monday that its group has received approval from the Reserve Bank of India for a non-banking ‌financial ⁠company (NBFC) ⁠licence.

The licence will allow MobiKwik to launch a lending arm, Mobikwik Financial Services, expanding its regulated credit offering.

Shares of the company rose 14% after the annoucement.


One ⁠MobiKwik Systems ‌operates a digital wallet and has expanded into the ⁠distribution of financial products, including credit and investments.

The NBFC licence will also enable MobiKwik to roll out lending products faster and improve margins by bringing credit operations in-house, the company ‌said.

The unit will offer secured and unsecured loans to consumers and small ⁠businesses, with a focus on underserved markets.

The company said non-bank lending operations will begin after it receives a certificate of registration from the central bank on fulfilment of certain conditions.