MobiKwik Arm MFSPL Secures RBI Certificate of Registration as NBFC
MobiKwik Financial Services Private Limited (MFSPL), a wholly owned subsidiary of One MobiKwik Systems Limited, has received the Certificate of Registration from the Reserve Bank of India to operate as a Non-Banking Financial Company. This license enables the MobiKwik Group to originate loans directly on its own balance sheet.
What happened
MobiKwik Financial Services Private Limited (MFSPL), a Gurugram-based company and a 100% wholly owned subsidiary of One MobiKwik Systems Limited, has successfully secured the Certificate of Registration from the Reserve Bank of India (RBI). The formal regulatory filing disclosing this approval was made by the parent company on November 6, 2026.
The Certificate of Registration was issued under Section 45-IA of the Reserve Bank of India Act, 1934, following in-principle clearance granted by the central bank in April 2026. MFSPL functions as a perpetual license subject to continuing regulatory compliance and plans to commence its non-banking financial company operations within the next three to six months.
With this authorization, MFSPL intends to start operations using an asset-light co-lending framework in partnership with banks and other NBFCs. The company plans to offer both secured and unsecured credit products tailored for retail consumers and micro, small, and medium enterprises (MSMEs) across India, while targeting loan disbursements totaling ₹5,000 crore over the next three to four years.
Important dates
| RBI In-Principle Clearance | April 2026 |
|---|---|
| Certificate of Registration Issued | November 5, 2026 |
| Regulatory Filing Date | November 6, 2026 |
📌 Static GK links
- Parent Company: One MobiKwik Systems Limited
- Regulator: Reserve Bank of India (RBI)
- Section of RBI Act for NBFC Registration: Section 45-IA of the RBI Act, 1934
What candidates should do
- Aspirants preparing for banking exams should note the statutory section (Section 45-IA of the RBI Act, 1934) under which NBFC licenses are issued.
- Understand the distinction between an NBFC that originates loans on its own balance sheet and a Lending Service Provider (LSP) that acts as a digital distributor for partner institutions.
- Memorize key corporate entities, parent-subsidiary relationships, and regulatory bodies relevant to current affairs in Indian banking.
PrepZen analysis
The RBI's issuance of the Certificate of Registration to MFSPL marks an important milestone for fintech firms transitioning into regulated lending entities. By securing an NBFC license, the MobiKwik Group can diversify its revenue streams by shifting from a pure distributor or Lending Service Provider model to direct balance-sheet lending. This regulatory update is highly relevant for banking awareness sections in exams like IBPS, SBI, and RBI, where questions frequently test knowledge concerning non-banking financial companies, statutory sections under the RBI Act, and recent fintech developments.
Practice questions
Q1. Under which section of the Reserve Bank of India Act, 1934, did MFSPL secure its Certificate of Registration to operate as an NBFC?
Q2. MobiKwik Financial Services Private Limited (MFSPL) is a wholly owned subsidiary of which entity?
The authorization permits MFSPL to conduct non-banking financial company operations.
MFSPL functions as a fully owned subsidiary of One MobiKwik Systems.
🎯 Key Point: MobiKwik arm MFSPL received RBI registration to operate as NBFC.
FAQs
What is the role of MFSPL after receiving the RBI registration?
With the Certificate of Registration, MFSPL is authorized to conduct non-banking financial company operations, allowing the MobiKwik Group to originate loans directly on its own balance sheet.
Who is the parent company of MFSPL?
MFSPL is a 100% wholly owned subsidiary of One MobiKwik Systems Limited.
Under which legal provision is the NBFC Certificate of Registration granted by the RBI?
The Certificate of Registration is issued under Section 45-IA of the Reserve Bank of India Act, 1934.
What business model and disbursement target has MFSPL planned?
MFSPL plans to initiate operations using an asset-light co-lending framework with banks and other NBFCs, offering secured and unsecured credit products while targeting loan disbursements of ₹5,000 crore over the next three to four years.
Sources and references
- eletsonline.com (bfsi.eletsonline.com)
- kalkinemedia.com (kalkinemedia.com)
- kotakneo.com (www.kotakneo.com)
- indiatimes.com (bfsi.economictimes.indiatimes.com)
Prepared by PrepZen for exam preparation. Consult the linked sources for original announcements and current details. Corrections policy. Spotted an error? Write to prepzen.app@gmail.com.
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