The e-commerce giant Flipkart has received a Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI).
This means Flipkart can now provide loans directly to its customers and sellers without partnering with banks or other NBFCs.
First E-commerce Company to Get NBFC License
This is the first time RBI has given such a license to a major e-commerce player. The NBFC license lets Flipkart offer loans, but it cannot accept deposits from customers. This is what sets NBFCs apart from regular banks.
Flipkart’s Previous Loan Model
Until now, Flipkart and similar companies provided loans through partnerships with banks and NBFCs. With this new license, Flipkart will lend money in its own name, which is more profitable.
License Issued to Flipkart Finance Private Limited
RBI issued the NBFC registration certificate to Flipkart’s finance arm — Flipkart Finance Private Limited — on March 13, 2025.
Reuters confirmed the news after seeing the official documents, which had not been publicly shared before.
Loan Services to Start Soon
A source close to the company said Flipkart could launch its loan services in the coming months after completing internal processes like appointing top management and finalizing its business plan.
Loans for Both Customers and Sellers
Flipkart plans to offer loans via its main e-commerce website and its fintech app, super.money. It also intends to provide loans to sellers operating on its platform.
Currently, Flipkart partners with Axis Bank, IDFC Bank, and Credit Saison to offer personal loans, but this new license will let it operate independently.
Flipkart’s Growth and IPO Plans
In 2024, Flipkart was valued at $37 billion after Walmart invested $1 billion and now holds over 80% ownership. The company is preparing for an IPO in the near future.
Walmart also owns PhonePe, which is now a separate company and is also planning an IPO.
What About Amazon?
Amazon, Flipkart’s biggest rival, is also moving into the loan space. Earlier this year, Amazon acquired Axio, a Bangalore-based NBFC, but RBI approval is still pending.
Significance for India’s E-commerce and Fintech
Flipkart getting an NBFC license is a major milestone in India’s fintech and e-commerce sectors.
It will give Flipkart more control and profit in lending and strengthen its IPO prospects. This move also opens the door for Amazon and other e-commerce firms to seek similar licenses.
