Flipkart secures NBFC licence from RBI, to begin lending from own books

Share via:


Ecommerce giant Flipkart has received a non-banking finance company (NBFC) licence from the Reserve Bank of India. Armed with this licence, the Walmart-owned firm can now extend credit from its own books.

Responding to ET’s queries, a Flipkart spokesperson confirmed the development.

After Flipkart entered UPI payments, this is the second major fintech foray from the ecommerce major. In May, Flipkart UPI processed 3.47 million transactions, settling Rs 195 crore.

This comes at a time when Flipkart has firmed up its plans to list on Indian stock…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Flipkart secures NBFC licence from RBI, to begin lending from own books


Ecommerce giant Flipkart has received a non-banking finance company (NBFC) licence from the Reserve Bank of India. Armed with this licence, the Walmart-owned firm can now extend credit from its own books.

Responding to ET’s queries, a Flipkart spokesperson confirmed the development.

After Flipkart entered UPI payments, this is the second major fintech foray from the ecommerce major. In May, Flipkart UPI processed 3.47 million transactions, settling Rs 195 crore.

This comes at a time when Flipkart has firmed up its plans to list on Indian stock…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Trump signs orders intended to jolt US drone manufacturing

President Donald Trump signed executive orders on Friday...

Jamf expands AI assistant and launches new tools for...

Yesterday, Jamf announced a series of new product updates...

NASA and the defence department rely on SpaceX in...

In 2006, a small, little-known company named Space...

Popular

Upcoming Events

asdasdas asdasdas asdasdas asdasdas asdasdas asdasdas asdasdas asdasdas