Flipkart, in which U.S. retail behemoth Walmart holds a more than 80% stake, applied for the licence in 2022, according to the central bank’s approval letter.

Exclusive: Walmart’s Flipkart secures approval for direct lending in India Walmart's Flipkart has secured a lending licence from the Indian central bank and banking regulator, enabling it to ...

Flipkart has received a lending licence from the Reserve Bank of India (RBI), the Walmart-backed ecommerce company confirmed on Thursday. The nod came in March this year, according to sources.

With this, Flipkart has also become India’s first ecommerce company to fetch an NBFC licence. Notably, the Walmart-backed company applied for the NBFC licence in 2022, the report added.

More than a year ago, when we unpacked Flipkart’s fintech ambitions, we never expected this new vertical to become the focal point for Flipkart. But now, with an NBFC licence, the ecommerce ...

Flipkart had set up Super.money as a separate entity in 2023, funding it with around $15-20 million, and is among the big focus areas for the e-tailer for its financial services and lending ...