MobiKwik Gets RBI Licence: Is Cheap Credit Coming?

MobiKwik's lending subsidiary has received an RBI licence to operate as an NBFC. It plans to start co-lending with banks within 6 months. This could mean easier small-ticket loans for millions of digital wallet users.

Here's what happened: MobiKwik's subsidiary MobiKwik Financial Services received an RBI Certificate of Registration on November 5, 2026, authorising it to operate as a fully licensed NBFC.. The company plans to begin lending operations within 3–6 months using an asset-light co-lending model, partnering with banks and other NBFCs to disburse loans.. MobiKwik joins a growing list of fintech-turned-NBFC players targeting underserved, thin-file borrowers who struggle to get credit from traditional banks..

What you should do: Check your CIBIL or Experian score now on GoCredit — entering the market as a fresh loan applicant with a score above 700 gives you the best shot at low-rate co-lending offers.. Verify any MobiKwik loan offer by looking up 'MobiKwik Financial Services' on the RBI's official NBFC public list at rbi.org.in before submitting documents or paying fees.. Compare co-lending rates against existing personal loan offers — co-lending APRs typically sit between pure-bank rates and standalone NBFC rates, so benchmark before you accept..

In a co-lending deal, two lenders share your loan — the bank funds ~80% at lower cost, the NBFC funds ~20%. Always ask for the blended interest rate in writing, not separate rates, to compare fairly.