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MobiKwik To Begin NBFC Operations Within 6 Months Post RBI Clearance

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MobiKwik To Begin NBFC Operations Within 6 Months Post RBI Clearance

MobiKwik’s wholly owned subsidiary, MobiKwik Financial Services Pvt Ltd (MFSPL), has received a Certificate of Registration (CoR) from the RBI to operate as a non-banking financial company (NBFC).

The certificate was issued on November 5, following the RBI’s in-principle approval in April 2026. The dedicated NBFC was officially incorporated on March 13, 2025. 

With the regulatory clearance in place, MFSPL intends to commence operations over the next three to six months. It intends to operate on an asset-light co-lending model, partnering with banks and other NBFCs. 

In a statement, the company said that it plans to complement its existing lending service provider (LSP) business with the ability to originate credit directly through its NBFC. 

“This will provide greater flexibility in product development, faster go-to-market execution and opportunities to improve lending economics, while allowing the group to continue leveraging its partnerships with established lenders,” the company said.

MobiKwik aims to disburse loans worth ₹5,000 Cr over the next three to four years, covering secured and unsecured credit for consumers and MSMEs.

Cofounder and CFO Upasana Taku said that the NBFC extension would allow MobiKwik to build on its existing lender partnerships and technology infrastructure while participating more actively in the lending value chain. The company plans to focus on responsible lending, prudent underwriting and sustainable growth.

During its Q2 earnings call, the CFO noted that MobiKwik could initially route around 10% of its digital lending disbursals through the NBFC. If the company disburses ₹6,000 Cr through its digital lending business next year, it would aim to route ₹600 Cr through MFSPL.


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