Flipkart, in which U.S. retail behemoth Walmart holds a more than 80% stake, applied for the licence in 2022, according to the central bank’s approval letter.

Flipkart, in which U.S. retail behemoth Walmart holds a more than 80% stake, applied for the licence in 2022, according to the central bank’s approval letter.

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Flipkart has received a lending licence from the Reserve Bank of India (RBI), the Walmart-backed ecommerce company confirmed on Thursday. The nod came in March this year, according to sources.

According to the RBI's approval letter, Flipkart submitted its application for the licence in 2022. The RBI has not yet responded to requests for comments regarding this matter.

Flipkart’s eternal rival Amazon India is likely to get an NBFC licence as well as its acquisition bid for digital lending startup axio (formerly known as Capital Float) is currently in the ...