Walmart-owned Flipkart's subsidiary has received a license to operate as a non-bank financial company from the Reserve Bank of India. The license has been granted to Flipkart Finance Pvt., a ...

However, the company's specific plans on this, now with the NBFC licence, could not be immediately ascertained. Walmart currently holds over 80 per cent stake in Flipkart.

The new NBFC licence allows Flipkart to bypass traditional banking partners and engage in direct lending—a shift from its existing arrangements with Axis Bank, IDFC Bank, and Credit Saison.

Flipkart's NBFC licence from the Reserve Bank of India will allow it to offer direct loans to customers and sellers through its platform and fintech app, super.money, marking a significant shift ...

In a groundbreaking development for India’s digital commerce sector, Walmart-owned Flipkart has been granted a non-banking finance company (NBFC) licence by the Reserve Bank of India (RBI), enabling ...

Flipkart has secured a crucial NBFC licence from the Reserve Bank of India, potentially enabling the e-commerce giant to offer direct financing options like EMIs to its customers. While ...

Walmart's Flipkart has obtained a lending licence from the Reserve Bank of India (RBI), allowing the e-commerce platform to provide loans directly to its customers and sellers. This development ...

With this, Flipkart has also become India’s first ecommerce company to fetch an NBFC licence. Notably, the Walmart-backed company applied for the NBFC licence in 2022, the report added.