One MobiKwik Systems received approval from the Reserve Bank of India (RBI) on 27 April 2026 for a non-banking financial company (NBFC) licence. The approval allows the company to create MobiKwik Financial Services Private Limited (MFSPL) as a wholly-owned subsidiary for lending operations.
Non-Banking Financial Company
An NBFC is a company registered under the Companies Act, 2013, and regulated by the RBI under the Reserve Bank of India Act, 1934. NBFCs can provide loans and advances, asset finance, and investment services, but they cannot accept demand deposits like savings accounts or current accounts.
Lending Operations
MobiKwik Financial Services is planned to offer secured and unsecured loans to consumers and small businesses. The lending business is intended for underserved markets and will operate after the RBI issues a Certificate of Registration (CoR) and the company fulfils the required conditions.
Fintech And Digital Credit
Fintech companies in India use digital platforms, data analytics, and technology-based underwriting for financial services. MobiKwik has stated that its lending business will use its user base of more than 186 million and its AI and ML systems for credit operations.
Corporate Structure
A wholly-owned subsidiary is a company in which the parent company holds 100% of the equity shares. MFSPL will function as the lending arm of One MobiKwik Systems after regulatory completion.
Market Context
After the announcement on 27 April 2026, shares of One MobiKwik Systems rose by about 14% in intraday trade and crossed the 17% mark at one stage. Upasana Taku is the Executive Director, Co-founder, and Chief Financial Officer of MobiKwik.
Last Modified: April 27, 2026