Flipkart has received a lending license from the reserve bank of India (RBI), The Walmart-backed Ecommerce Company Confirmed on Consday on.
The nod came in March this year, according to sources.
When contacted about the grant of the NBFC License, Flipkart Confirmed The Development but did not divulge any details.
The move could Pave the way for flipkart to offer loans directly to customers, sources said noting Choose.
However, the company’s specific plans on this, now with the NBFC License, Could not be immediatily ascertied.
Walmart currently holds over 80 per cent stake in Flipkart. It has bought a Majority stake in the ecommerce platform back in 2018.
In April this year, iPO-Bound Flipkart Had Shared Its Internation to Relocate Its Holding Company from Singapore to India, A Strategic Decision That The HomegrowN E-Commerce Firm Said Reflects “Deeep and UNWAVERING Commitment to India and its remarkable growth “.
“We are inspired by the Government of India’s Strong Vision and Proactive Initiatives in Fostering a Thriving Business Environment and Ease of Doing of Doing Business, which have significly shaped out REPRESENTS A Natural Evolution, Aligning Our Holding Structure with Our Core Operations, The Vast Potential of the Indian Economy and Our Technology and Driven Capability to Foster Digital Tran India, “A Flipkart spokesperson had said in April.