Zomato Financial withdraws NBFC licence application

Zomato said on Tuesday that it has decided to withdraw its application for a non-banking financial company (NBFC) licence, as it does not want to pursue the lending business anymore. The decision to withdraw the application was taken by the board of Zomato Financial Services, a wholly-owned subsidiary, the company said in an exchange filing on Tuesday.

“There is no material impact on the revenue/operations of the company and this disclosure is being made voluntarily,” Zomato said.