India's MobiKwik Receives NBFC Licence from Reserve Bank of India
India's MobiKwik has received approval from the Reserve Bank of India for a non-banking financial company (NBFC) licence, allowing it to expand into lending services. The company's shares rose 14% following the announcement, signaling positive market sentiment. The NBFC licence will enable MobiKwik to offer secured and unsecured loans to consumers and small businesses, focusing on underserved markets.
Topics: fintech lending arm NBFC licence regulatory approval stock movement