In April 2026, the Reserve Bank of India (RBI) approved the Non-Banking Financial Company (NBFC) application of One MobiKwik Systems Limited, allowing it to set up its subsidiary MobiKwik Financial Services Private Limited as a lending arm, subject to receiving the Certificate of Registration (CoR).
- This move enables MobiKwik to expand into direct lending and become a full-stack financial services platform in India.
About MobiKwik NBFC Expansion:
Purpose: The NBFC arm enables regulated lending with secured and unsecured products, faster rollout, and stronger underwriting and risk control.
Strategy: The company focuses on consumers and Micro, Small and Medium Enterprises (MSMEs) in Tier 2 and Tier 3 cities to expand formal credit access and financial inclusion.
Products: Offerings include personal loans, merchant loans, Buy Now Pay Later (BNPL) credit, and MSME working capital loans.
NBFC Criteria: An NBFC licence requires incorporation as a Public or Private Limited Company under the Companies Act, 2013, maintaining a minimum Net Owned Fund (NOF) of Rs.10 crore (as of October 2022, to be met by March 31, 2027), and registration with the Reserve Bank of India (RBI).
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