Flipkart secures NBFC licence
It is the first e-commerce company that the RBI has given permission to directly give loans. E-commerce giant Flipkart has secured an NBFC (non-banking financial company) licence from the Reserve Bank of India (RBI). Its group entity, Flipkart Finance Private Limited, was granted the approval and registered as an NBFC on March 13. This allows Flipkart to directly disburse loans, a higher margin play than just distributing loans for other lenders. Flipkart is also in the process of shifting its holding company from Singapore to India as a precursor to an IPO.
