In a major development for India’s fintech sector, One MobiKwik Systems has received approval from the Reserve Bank of India for a Non-Banking Financial Company (NBFC) license.
The approval will allow the company to launch its lending arm, Mobikwik Financial Services, and expand its regulated credit offerings.
Following the announcement, shares of One MobiKwik Systems surged 14%, reflecting strong investor confidence.
What the NBFC License Means for MobiKwik
The NBFC license will help MobiKwik:
- Launch lending products faster
- Offer regulated credit services
- Improve profit margins
- Bring credit operations in-house
- Expand beyond digital wallet services
This marks a major strategic expansion for the company.
About Mobikwik Financial Services
Mobikwik Financial Services will focus on offering:
- Secured loans
- Unsecured loans
- Loans to consumers
- Loans to small businesses
The company has said it will particularly target underserved markets, improving financial inclusion.
About MobiKwik
- MobiKwik is one of India’s leading fintech companies
- Name: One MobiKwik Systems Limited
- Founded: 2009 by Bipin Preet Singh and Upasana Taku
- Headquarters: Gurugram, Haryana, India
- Industry: Financial Technology (Fintech)
Existing Business of MobiKwik
One MobiKwik Systems is widely known for its:
- Digital wallet services
- Credit product distribution
- Investment product distribution
- Other financial services
With this new approval, the company is moving deeper into the fintech lending ecosystem.
Next Step Before Lending Begins
Although RBI has approved the NBFC license, lending operations will begin only after:
- Receiving the Certificate of Registration (CoR) from the Reserve Bank of India
- Fulfilling certain regulatory conditions
Only then can the company start full-scale non-bank lending operations.
Conclusion
The RBI’s NBFC approval for One MobiKwik Systems marks a major milestone in the company’s evolution from a digital wallet provider to a full-fledged financial services player. With the launch of Mobikwik Financial Services, the company is set to expand access to credit and strengthen its position in India’s rapidly growing fintech market.