Ecommerce giant Flipkart has reportedly secured non-bank finance company (NBFC) licence from the Reserve Bank of India to offer loans directly to consumers and sellers on its platform.
The licence permits Flipkart to provide loans without the capacity to accept deposits, Reuters reported, citing documents and sources close to the matter.
Usually, ecommerce companies partner with banks and NBFCs to offer loans to their customers. This is the first time that RBI has issued a lending licence to an ecommerce company.
The Walmart-backed company applied for the NBFC licence in 2022, the report added.
(The story will be updated soon)
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