MobiKwik subsidiary MFSPL receives RBI registration to operate NBFC
Business
Big update for MobiKwik: its wholly owned subsidiary, MobiKwik Financial Services Private Limited (MFSPL), has just received a Certificate of Registration from the RBI to operate as an NBFC.
This means they can soon lend money directly.
The official announcement dropped on Friday.
NBFC launch to target ₹5000cr loans
MobiKwik plans to kick off its NBFC operations in the next three to six months, teaming up with banks and other lenders at first.
Their goal? Offer both secured and unsecured loans to regular users and small businesses, aiming to hand out ₹5,000 crore in loans over the next few years.
They'll use their existing tech and data smarts to make lending smoother, and hopefully hit those big targets without missing a beat.