MobiKwik Gets RBI NBFC Licence for Lending Push

Digital payments company MobiKwik has received approval from the Reserve Bank of India (RBI) to become a Non-Banking Financial Company (NBFC). This is a big step for the company as it moves deeper into the lending space. The approval came on April 27, 2026, and was processed in less than four months, which is quite fast.

With this licence, MobiKwik will start its lending business through its wholly owned subsidiary, MobiKwik Financial Services Private Limited (MFSPL). The company had already invested ₹9.99 crore in this unit in October 2025. However, before starting operations, it still needs to get the final Certificate of Registration (CoR) from the RBI and meet other rules. The company plans to begin lending operations by the end of 2026.

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Big Shift Towards Lending Business

This approval marks a major change in MobiKwik’s business model. Until now, the company mainly offered loans by partnering with banks and NBFCs. It earned a share of the income through these partnerships.

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Now, with its own NBFC, MobiKwik can give loans directly. This means it can earn full interest income, which can improve its profits. It will also be able to partner with banks for co-lending, helping reduce the cost of funds. The company plans to offer loans to both individuals and small businesses (MSMEs), especially in Tier 2 and Tier 3 cities. Since MobiKwik already has a large user base, it can promote these loan products without spending too much on marketing.

Stock Jumps After Announcement

The news had a strong impact on the stock market. Shares of One MobiKwik Systems jumped up to 17.5% during the day and reached a 52-week high of ₹241.90. The company’s market value also increased to around ₹1,857 crore.

MobiKwik currently serves over 186 million users and around 4.8 million merchants across India. It offers services like payments, buy-now-pay-later (BNPL), personal loans, and investment options. The company has also improved its financial performance. It reported a profit of ₹14.08 crore in FY24 after a loss in the previous year. With better technology, stronger risk management, and its own lending arm, MobiKwik is now aiming for the next phase of growth in India’s fintech sector.