Fintech Entry Cleared: Flipkart Gets RBI Nod for Lending Licence; Plans for NBFC Rollout Still Under Wraps

Fintech entry cleared: Flipkart gets RBI nod for lending licence; plans for NBFC rollout still under wraps

Flipkart has secured a crucial NBFC licence from the Reserve Bank of India, potentially enabling the e-commerce giant to offer direct financing options like EMIs to its customers. While operational details remain undisclosed, sources suggest the approval came in March.

In A First, Flipkart Secures Approval For Direct Lending In India: Report

Walmart's Flipkart has secured a lending licence from the Indian central bank and banking regulator, enabling it to offer loans directly to customers and sellers on its platform, according to documents reviewed by Reuters and a source.