Flipkart becomes 1st Indian e-comm firm to offer direct lending
E-commerce giant Flipkart received a Non-Banking Financial Company (NBFC) licence from the Reserve Bank of India (RBI), allowing it to offer loans directly to customers and sellers on its platform. This marks first time a major e-commerce player has secured such authorisation in India. Currently, most e-commerce companies, including Flipkart, provide personal loans through partnerships with banks.