Mobikwik Systems has received RBI approval to establish Mobikwik Financial Services Pvt Ltd as a Non-Banking Financial Company (NBFC). This move aims to broaden lending options and develop credit products, particularly focusing on under-served Tier 2 and 3 cities.

The Reserve Bank of India has granted a Non-Banking Financial Company (NBFC) license to MobiKwik's subsidiary, enabling them to engage in regulated lending activities. This move is intended to enhance MobiKwik's profit margins and foster credit innovation through a co-lending model.

MobiKwik has received approval from the Reserve Bank of India to operate as a Non-Banking Financial Company (NBFC), expanding its financial services offerings.