Startups
MobiKwik gets an RBI lending licence, eyes ₹5,000 crore in loans
The fintech's subsidiary can now lend directly as an NBFC, starting within three to six months.
In short
₹5,000 Crloans planned over 3–4 years
- RBI NBFC registration
- Lending to start in 3–6 months
- Target: ₹5,000 crore
What happened
MobiKwik Financial Services, a subsidiary of the listed payments company, has received an NBFC (non-banking finance company) registration from the RBI. MobiKwik plans to start lending within three to six months and aims to disburse ₹5,000 crore over the next three to four years.
Why it matters
Until now, fintech apps mostly earned a cut by connecting users to other lenders' loans. Having its own licence lets MobiKwik lend from its own books and keep more of the interest — but also carry more of the risk.
