MobiKwik receives RBI nod for NBFC licence, to set up lending arm

One MobiKwik Systems Ltd said it has received approval from the Reserve Bank of India (RBI) to operate as a non-banking financial company (NBFC). The move enables the firm to expand its lending operations within a regulated framework. The company will set up a wholly owned subsidiary, MobiKwik Financial Services Private Limited (MFSPL), to house its lending business.