Walmart's Flipkart gets RBI’s NBFC licence to lend directly to customers
Mumbai: Walmart-owned Flipkart has received a lending licence from the Reserve Bank of India (RBI), becoming the first major e-commerce platform in the country to be granted a non-banking finance company (NBFC) status, according to a Reuters report.
The RBI issued the certificate of registration to Flipkart Finance Private Limited on March 13, permitting the entity to lend directly to customers and sellers on its platform, though it cannot accept deposits, according to Reuters.
Unlike most e-commerce firms in India, which extend credit in partnership with banks or NBFCs, Flipkart will now be able to issue loans independently—a model that offers better margins and operational control.
Flipkart may begin lending within a few months, though a formal launch will hinge on internal preparations, including appointing board members and key executives, and finalising business plans.
The company intends to offer loans both on its flagship e-commerce platform and via its fintech app super.money, the person added.
Flipkart is also exploring credit solutions for sellers on its marketplace.
Currently, Flipkart facilitates personal loans through tie-ups with lenders such as Axis Bank, IDFC Bank, and Credit Saison.
The company, last valued at $37 billion in 2024 after a $1 billion fundraising round led by Walmart, is also in the process of shifting its holding structure from Singapore to India as part of its broader IPO roadmap.
Walmart, which acquired a majority stake in Flipkart in 2018, also owns digital payments firm PhonePe, another IPO-bound entity.
Earlier this year, Amazon—Flipkart’s biggest rival—announced its acquisition of Bengaluru-based non-bank lender Axio, though the deal is still awaiting regulatory clearance from the RBI.
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