Mobikwik gets central bank nod for non-banking financial company licence

Fintech firm One MobiKwik Systems said on Monday that its group has received approval from the Reserve Bank of India for a non-banking ‌financial ⁠company (NBFC) ⁠licence.

The licence will allow MobiKwik to launch a lending arm, Mobikwik Financial Services, expanding its regulated credit offering.

Shares of the company rose 14% after the annoucement.