Flipkart gets RBI nod for direct lending: Can offer loans directly to customers

Flipkart has secured a lending licence from the Reserve Bank of India (RBI), As per a report on Reuters. This will allow the e-commerce platform to lend money directly to customers and sellers on its platform.

With this, Flipkart becomes the first-ever Indian e-commerce platform to have a non-bank finance company (NBFC) licence, allowing it to lend but not take deposits. Currently, platforms rely on partnerships with banks and non-bank lenders to offer loans.