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Walmart’s Flipkart Secures RBI Approval for Direct Lending in India

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Walmart-owned Flipkart has obtained a non-bank finance company (NBFC) licence from India’s central bank, the Reserve Bank of India (RBI), enabling the e-commerce giant to directly lend to customers and sellers on its platform. This marks the first time RBI has granted such a licence to a major Indian e-commerce player, allowing Flipkart to offer loans without relying on third-party lenders.

The certificate of registration, officially recognizing Flipkart Finance Private Limited as an NBFC, was issued on March 13, 2025. Flipkart applied for the licence in 2022, and the approval, previously unreported, was confirmed by company spokespersons after Reuters reviewed the official documents.

Currently, Flipkart offers personal loans through partnerships with banks and NBFCs like Axis Bank, IDFC Bank, and Credit Saison. With the new licence, it can launch a more profitable direct lending operation on its e-commerce platform and its fintech app, super.money. The company is also considering offering financing options to sellers on its platform.

The start of lending operations depends on internal steps such as appointing key management and finalizing business strategies. A source familiar with the matter expects Flipkart to commence lending “in a few months.”

Flipkart, valued at $37 billion following a $1 billion funding round led by Walmart in 2024, is in the process of shifting its holding company from Singapore to India. Walmart acquired a controlling stake in Flipkart in 2018, which also included ownership of PhonePe, a fintech firm planning its own IPO.

Flipkart’s competitor Amazon recently acquired Indian NBFC Axio, but that deal awaits RBI approval.

Samsung Galaxy S24 Ultra Drops in Price on Amazon and Flipkart with Discounts and Bank Deals

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The Samsung Galaxy S24 Ultra is currently being offered at a discounted price across major e-commerce platforms in India, making it more accessible to customers looking for a premium flagship phone. Powered by the Snapdragon 8 Gen 3 Mobile Platform for Galaxy, the device boasts a range of advanced AI features including Live Translate, Interpreter, Chat Assist, Note Assist, Transcript Assist, and Circle to Search with Google. These intelligent tools enhance the user experience, positioning the S24 Ultra as one of Samsung’s most capable smartphones. The price cuts on Amazon and Flipkart are available for a limited time, encouraging buyers to take advantage of these deals soon.

In addition to the direct discounts, buyers can benefit from various bank offers to further reduce the effective cost of the phone. These offers include cashback and card-specific discounts, making it easier for customers to own Samsung’s flagship without paying the full retail price upfront. Both Amazon and Flipkart have introduced special schemes, including no-cost EMI options, that provide flexible payment plans catering to different buyer preferences.

On Amazon, the Galaxy S24 Ultra, originally launched at Rs. 1,29,999 for the 12GB RAM and 256GB storage variant, is now available at a steep 36% discount, bringing the price down to Rs. 85,899. Additionally, Amazon Pay ICICI Bank credit card users can get up to Rs. 2,579 cashback in their Amazon Pay balance. Flipkart is offering a similar discount of 36% on the same variant, priced at Rs. 87,770 in the Titanium Black color. On top of that, Axis Bank credit card users can enjoy an extra 10% off up to Rs. 1,250, along with a 5% unlimited cashback via the Flipkart Axis Bank Credit Card.

As for the device itself, the Galaxy S24 Ultra runs on Android 15 with Samsung’s One UI 7, featuring a stunning 6.8-inch Edge QHD+ Dynamic AMOLED 2X display. The screen supports an adaptive refresh rate ranging from 1Hz to 120Hz and reaches peak brightness of 2,600 nits, delivering vivid visuals and smooth performance. The phone is equipped with up to 12GB of RAM and 1TB of storage, powered by the custom Snapdragon 8 Gen 3 Mobile Platform designed specifically for Galaxy devices, ensuring top-tier performance for demanding tasks and gaming.

India’s Quick Commerce Sector Dominates E-Grocery Orders in 2024

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India’s quick commerce sector has seen explosive growth, accounting for over two-thirds of all e-grocery orders in 2024, according to a new report by consultancy Bain and e-commerce giant Flipkart. This rapid rise highlights the sector’s expansion and its significant impact on India’s e-retail market.

Market Growth and Projections

The quick commerce industry’s market share surged nearly five-fold, reaching an estimated $6-7 billion in 2024, up from the previous year. The sector, which includes companies like Zomato-owned Blinkit, now accounts for about 10% of India’s overall e-retail spending. These platforms, which offer delivery of groceries and other items within minutes, are poised for further expansion, with an annual growth rate of over 40% expected until 2030.

Key Drivers and Challenges

Quick commerce has emerged as one of the most notable trends in India’s e-retail sector over the past two years, serving over 20 million online shoppers and employing more than 400,000 people. The industry’s rapid rise is attributed to its ability to cater to the growing demand for fast deliveries in urban areas, capitalizing on consumer convenience.

However, the sector faces challenges, particularly in terms of expanding profitability. Companies may struggle to extend their reach beyond major metropolitan areas and contend with fierce competition from larger players like Flipkart. To sustain growth, experts suggest that quick commerce companies will need to adapt their business models, optimize supply chains, and manage increasing competition.

The Future of Quick Commerce

While the growth prospects of the sector are promising, some industry experts warn that the quick commerce boom may be short-lived. A recent report from Blume Ventures cautioned that maintaining such rapid growth may prove difficult. TVS Capital Funds Chairman Gopal Srinivasan also expressed concerns, calling the quick-commerce trend a “passing fad” that could prove unsustainable in the long run.