Flipkart has received a lending licence from the Reserve Bank of India (RBI), the Walmart-backed ecommerce company confirmed on Thursday. The nod came in March this year, according to sources.

The NBFC Edge Flipkart’s NBFC plans have been in the works for several years now. The company approached the central bank for a licence in 2022, and it took nearly three years for approval.

Flipkart, where U.S. retail giant Walmart holds more than an 80% stake, applied for the license in 2022, according to the central bank’s approval letter. 3rd party Ad.

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 ...

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.

It would be interesting to see how Flipkart’s fintech play blooms as it becomes India’s first ecommerce platform with an NBFC licence.

However, this lending license will enable Flipkart, India’s largest e-commerce firm, to lend directly. This is expected to be a more profitable model for the company. The RBI issued its certificate of ...