EconomyWednesday, 29 April 2026·https://testbook.com/current-affairs/29-april-2026-daily-current-affairs
RBI clears MobiKwik’s NBFC plan; new lending arm to serve Tier 2 and Tier 3 cities
On 27 April 2026, RBI approved One MobiKwik Systems Ltd’s NBFC application and the company announced MobiKwik Financial Services Private Ltd.
Key highlights
Direct fact
On 27 April 2026, the Reserve Bank of India approved One MobiKwik Systems Ltd’s application to set up an NBFC, enabling the launch of MobiKwik Financial Services Private Ltd as a wholly-owned lending subsidiary.
Key specifics
- The RBI approval was granted on 27 April 2026.
- The new entity is MobiKwik Financial Services Private Ltd (MFSPL).
- MobiKwik said the NBFC will focus on Tier 2 and Tier 3 cities.
- The company cited an existing customer base of over 186 million users.
- RBI was established on 1 April 1935 under the RBI Act, 1934, and nationalised on 1 January 1949.
Exam lens
Question type: Banking and financial regulation. TNPSC one-liner: RBI’s 2026 approval for MobiKwik is relevant for NBFC licensing, fintech expansion and credit access in Tier 2 and Tier 3 markets.