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One MobiKwik Systems has received approval from the Reserve Bank of India for a non-banking financial company (NBFC) licence, allowing the firm to expand into regulated lending. The licence will facilitate the launch of a wholly owned subsidiary, MobiKwik Financial Services Private Limited, aimed at offering credit products to consumers and merchants. The approval, granted within a relatively short timeframe, supports the company’s transition towards a broader financial services platform. Leveraging its existing customer base of over 18.6 crore users and digital infrastructure, the company plans to strengthen its lending capabilities, including underwriting, product design, and collections.
One MobiKwik Systems has secured approval from the Reserve Bank of India for a non-banking financial company licence, enabling the fintech firm to enter the regulated lending segment through a dedicated subsidiary. Advertisement
The approval was granted recently, allowing the company to establish MobiKwik Financial Services Private Limited as a wholly owned subsidiary focused on lending operations. The new entity is expected to design and offer credit products to both consumers and merchants, expanding the company’s financial services portfolio beyond payments.
The company indicated that the NBFC licence represents a key step in its transition towards becoming an integrated financial services platform. The approval process was completed within a relatively short duration, reflecting regulatory clearance for the firm’s proposed lending framework and operational readiness.
According to Upasana Taku, the development marks a significant stage in the company’s evolution, with the licence expected to support scaling of lending operations under a regulated structure. She noted that the approval enables the company to formalise and expand its credit offerings while operating within the regulatory framework defined for NBFCs.
The lending business will build on the company’s existing ecosystem, which includes a customer base exceeding 18.6 crore users. The firm also plans to leverage its technology infrastructure, data analytics capabilities, and experience in risk underwriting and collections to support the new vertical.
With the NBFC licence, the company will be able to offer a wider range of financial products, including structured credit solutions tailored to different user segments. This is expected to enhance its ability to serve both retail customers and small merchants seeking access to formal credit channels.
The move comes amid increasing regulatory oversight in the fintech sector, where companies are aligning their business models with formal financial frameworks. By operating through a licensed NBFC, the company will be subject to prudential norms and compliance requirements applicable to lending institutions in India.
The expansion into lending reflects a broader trend among fintech firms seeking to diversify revenue streams and deepen customer engagement through integrated financial services. The company’s entry into the NBFC segment is expected to position it alongside other digital platforms that have adopted regulated structures to scale their lending operations.
Source - PTI
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