Flipkart gets RBI approval for direct lending

Ecommerce firm Flipkart has secured non-bank financial company (NBFC) licence from the Reserve Bank of India. This will enable the company to offer loans directly to consumers and sellers on its platform.

The licence has been granted to Flipkart Finance Private Limited. Also, it is said that this is the first time a major ecommerce company has received NBFC status. Walmart-owned Flipkart had applied for the licence in 2022 and it is said that the company might start its lending operation soon.