Flipkart gets NBFC License from RBI; Now Customers will Get Loan Directly from this Platform
Flipkart has received a Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI), which will allow Flipkart to offer loans directly on its e-commerce platform. Getting the NBFC license is a big achievement for Flipkart, as it will increase customer trust in the company.
Big Opportunity for Flipkart
Flipkart already offers facilities like ‘Buy Now, Pay Later (BNPL)’ and EMI through third-party financial institutions on its platform. Now, with an NBFC license, the company can start providing loans independently without relying on any external financial institution. This move will further strengthen Flipkart against competitors like Amazon, which already has a foothold in financial services in India.
Small Businesses will Benefits
Through this license, Flipkart will provide its customers with affordable and easy loans, which will further improve the convenience of purchasing. In addition, the businesses of millions of small and medium sellers on Flipkart will be strengthened, they will be able to get loans to expand their businesses. This initiative will be especially beneficial for small businesses in rural and urban areas.
Flipkart’s move reflects the growing convergence between e-commerce and financial services in India. In recent years, many e-commerce companies have entered the financial services sector, allowing them to offer their customers everything on a single platform. Not only this, NBFC license could establish Flipkart as a strong player in the digital lending sector.
Flipkart will Also Provide Digital Loans
Flipkart has not yet clarified how it will implement its lending business, but it is said that the company will focus on digital loans, personal loans and special financial products for sellers. Additionally, Flipkart can leverage its data and technical capabilities to make loan distribution even more efficient. This move could give Flipkart a significant foothold in India’s rapidly growing digital lending market, which is also in line with the government’s Digital India and Financial Convergence initiative.
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