MobiKwik tightens risk controls, says break-even now within reach

Bipin Preet Singh, Managing Director and CEO of Gurugram-based digital payments firm One MobiKwik Systems, said the company has strengthened its internal risk management and audit processes to prevent a repeat of the recent fraud incident, which had been limited to a small region in Haryana and initially led to an exposure of about ₹40 crore.

Singh said about 70% of that amount has already been recovered, and the remaining ₹11.8 crore is fully provided for “as an abundant precaution.” He added that an independent audit has been completed and…