Flipkart secures NBFC license from RBI—becomes first Indian e-comm player to offer direct lending
Flipkart has received a lending licence from the Reserve Bank of India (RBI), the Walmart-backed ecommerce company confirmed on Thursday. The nod came in March this year. The move could pave the way for Flipkart to offer loans directly to customers, sources said noting the specific instances in which the customers at times choose the EMI model or instalment mode to pay for products they choose.
This is the first time the RBI has granted a large e-commerce player in India a non-bank finance company (NBFC) licence, allowing it to lend but not take deposits.
