One MobiKwik Systems, a financial technology company, has received approval from the Reserve Bank of India (RBI) for a non-banking financial company (NBFC) license, allowing it to launch its lending subsidiary, MobiKwik Financial Services Private Limited. This development is a significant step in MobiKwik's evolution into a comprehensive financial services platform. The NBFC license will enable the company to enhance its lending margins and accelerate the introduction of new credit products for consumers and merchants. Following the announcement, MobiKwik's share price surged 14.02% to ₹230.26. Upasana Taku, co-founder and executive director at MobiKwik, stated that the approval provides a regulatory framework to deepen its credit offerings, facilitating faster market entry for both secured and unsecured lending products. The company, which boasts over 186 million users, plans to utilize advanced technology, including artificial intelligence and machine learning, to offer personalized financial products, particularly targeting tier-2 and tier-3 cities. Operations will commence once the company obtains a certificate of registration from the RBI and fulfills specific conditions.