The initial public offer of One MobiKwik Systems Ltd received a staggering 119.38 times subscription on Friday, amid overwhelming participation from investors.
The central bank said it observed that the two entities had not complied with the directions issued by the RBI on networth requirement for Bharat Bill Payment Operating Units (BBPOUs).
The Reserve Bank has asked troubled digital wallet firm Mobikwik, which is facing data breach allegations, to get a forensic audit done without any delay.
Fintech major MobiKwik on Sunday said it expects to get back to growth trajectory around August-September as digital transactions pick up at offline retailers, and demand in categories like travel returns.
MobiKwik is a digital wallet that was introduced way back in 2009. Read on to know more
Digital payments company MobiKwik has witnessed strong growth in its lending business and aims to disburse loans worth Rs 1,500 crore in FY2020 through its platform.
The company, which competes with the likes of BillDesk and PayU in this space, is also confident of registering Rs 500 crore in revenue from its payments gateway (PG) business (operated as a MobiKwik subsidiary - Zaakpay) over the next 12 months.
Mobile wallet interoperability will allow a Paytm user to transfer and receive funds from a FreeCharge or MobiKwik user.
MobiKwik will invest Rs 300 crore for expansion, aimed at growing its user base from current 5 crore to 15 crore in 2017.
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