MobiKwik sets up wholly-owned NBFC subsidiary

MobiKwik, a digital payments and financial services platform, is establishing a wholly-owned Non-Banking Financial Company (NBFC) subsidiary. This strategic move will allow MobiKwik to expand its financial service offerings, potentially including lending, insurance, and other credit-related products, under a separate regulatory framework governed by the Reserve Bank of India (RBI). Setting up an NBFC subsidiary will provide MobiKwik with greater flexibility and regulatory compliance for its lending operations and enable it to tap into a wider range of financial services, enhancing its position in the competitive fintech landscape.