Reported 2 days ago
Walmart's Flipkart has received approval from the Reserve Bank of India for a non-bank finance company license, enabling it to lend directly to customers and sellers on its platform. This marks a significant change for the e-commerce giant, allowing it to operate more profitably without relying on partnerships with banks for loan offerings. Flipkart plans to launch its lending operations within a few months, pending the completion of necessary internal processes.
Source: YAHOO