Shares of One MobiKwik Systems jumped over 17% intraday on April 27, 2026, after the company announced that the Reserve Bank of India (RBI) approved its application for a Non-Banking Financial Company (NBFC) licence. As of 1:47 PM on NSE, the stock was trading at ₹236.44, marking a significant gain from the previous close. The stock had already been gaining momentum before this announcement, rising around 13% in a week and nearly 34% in the prior month, reflecting strong investor confidence ahead of the RBI decision. The sharp surge comes after the company announced that the Reserve Bank of India (RBI) approved its application for a Non-Banking Financial Company (NBFC) licence, marking a key milestone in its efforts to strengthen its financial services business.
The licence will allow the launch of a new lending arm, MobiKwik Financial Services Private Limited (MFSPL), a wholly-owned subsidiary of the group. As reported by The Economic Times, through this entity, the company plans to expand its regulated lending capabilities, introduce innovative credit products, and serve a wider base of consumers and merchants with greater efficiency and control. The development is in line with the group's long-term strategy of building a full-stack fintech platform focused on accessible, responsible and technology-driven financial products. The RBI approval positions MobiKwik to transform from a payments player into a full-stack financial services platform with direct lending capabilities, enabling the company to move from being only a distributor of financial products to becoming a fuller, more integrated financial services player.
The NBFC will build on the group's existing strengths, including a customer base of more than 186 million users, a trusted brand, and strong technology infrastructure with risk underwriting and collections capabilities. According to The Economic Times, MFSPL is expected to help launch new credit products with faster go-to-market execution, offering both secured and unsecured lending solutions to consumers and MSMEs in underserved geographies. The licence will enable MobiKwik to expand regulated lending through its own NBFC arm, design innovative credit products for consumers and merchants, improve lending margins via co-lending models, scale financial services beyond payments and wallets, and drive financial inclusion in Tier 2/3 cities. Operations will begin after receipt of the Certificate of Registration (CoR) from the RBI upon fulfilment of certain conditions.
Commenting on the development, Upasana Taku, Executive Director, Co-founder and CFO of MobiKwik, expressed satisfaction with the swift approval process, which took less than 4 months. As reported by The Economic Times, she highlighted the regulatory framework's role in deepening credit offerings while maintaining strong governance and risk discipline. She emphasized that this gives the regulatory framework to deepen credit offerings while maintaining strong governance and risk discipline, with the company now able to originate loans directly, accelerating its transition from a distribution-led model to a lending-led business. The approval provides a regulatory framework to deepen credit offerings while maintaining governance and risk discipline, with the company now able to originate loans directly, accelerating its transition from a distribution-led model to a lending-led business.
The NBFC structure will allow MobiKwik to use its technology capabilities, AI-ML models and large user base to deliver personalised financial products suited to diverse customer needs. According to The Economic Times, while the primary focus will remain on Tier 2 and Tier 3 cities, services will be offered across the country, tapping India's broad geographic potential. The strategy is aimed at improving financial inclusion in underpenetrated regions by expanding access to credit and driving wider adoption of financial services. The company said the NBFC arm will focus on building technology-led, accessible financial products aimed at improving financial inclusion, particularly in underpenetrated markets. With regulatory approval now in place, execution and asset quality will be key factors to watch as MobiKwik scales its lending ambitions.
