Tech
Flipkart secures NBFC licence from RBI, to begin lending from own books
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Ecommerce giant Flipkart has received a non-banking finance company (NBFC) licence from the Reserve Bank of India. Armed with this licence, the Walmart-owned firm can now extend credit from its own books.
Responding to ET’s queries, a Flipkart spokesperson confirmed the development.
After Flipkart entered UPI payments, this is the second major fintech foray from the ecommerce major. In May, Flipkart UPI processed 3.47 million transactions, settling Rs 195 crore.
This comes at a time when Flipkart has firmed up its plans to list on Indian stock…
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